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All Forum Posts by: Hersh Shah

Hersh Shah has started 3 posts and replied 96 times.

Post: Real Estate vs Stock Market

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

As many have said in this thread already, it doesn't have to be binary. You can do both! You seem to good at trading, so take that active income and invest it to diversify. Some have mentioned how REI has 4 distinct ways of generating a return in comparison to only in stocks or specifically trading like you are doing. The most important reason to invest in real estate is because it is far more passive than 'trading'.

My family will be taken care of for generations to come without having to learn anything. Property managers will handle the properties while my dependents collect the cash while doing what they love and not having to 'learn' real estate.

Post: What if my property manager does not have a license?

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71
Quote from @Pouya Banki:

Hi, my property manager does not have a license (but is in the process of getting it). What risks do I have as a landlord for both my long term and short term rentals? 

Would you hire an attorney to represent you before they passed the BAR? Or a Doctor to perform surgery on you before graduating from Medical School? In both scenarios, getting your credentials doesn't make you qualified to handle the job unless you have previous on the job experience.

Post: Fence necessary in a rental?

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

@Joanne Tsai,

In my humble opinion, a chainlink fence just doesn't do justice to most properties. A great wooden fence, while more expensive, will last a really long time and actually make the property look better. Most tenants appreciate the privacy and how it can make it more kid/pet friendly.

Post: Listing with only 1 or just exterior pictures.

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

@Mercedes Williams,

This is typically because there are tenants in place and most investors don't want to share with the tenants that they are selling the property. Getting pictures and such will tip off the tenants.

Post: What is the best way to find somebody to keep an eye on my rental, but not a PM?

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71
Quote from @Vincent Donato:

I have a rental duplex in Ohio which I was doing very well managing myself. Work brought me back to New York so I was forced to hire a property manager.

That didn't go very well. For reasons I will not get into, I fired him. I'm capable of managing the property myself from New York, filling vacancies, calling for maintenance, etc. 

I want to continue to manage the property myself, but I want to hire somebody to do simple things such as viewings, respond to small issues from tenants and address the problem, etc. How do I go about finding somebody like this, and what would you pay them?

 Hi @Vincent Donato,

Look into Hemlane. I haven't personally used the service, but have looked into it in the past. The idea is that their team does all of the not so fun stuff with management for a cost that is usually much cheaper than hiring a property manager. PM is usually the best way to go, but this is an alternate resource for those that need it.

Post: Buyer wants to back out of contract right before closing.

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

@Sol Silverstein that is unfortunate.

All states are different when it comes to real estate licensing law. I suggest reaching out to the broker in charge and letting them know what happened. He may be liable either way but if he didn't get it to you now, it's gonna be a tough path forward. Broker may be able to help through E&O insurance.

Post: Buyer wants to back out of contract right before closing.

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

@Sol Silverstein that is unfortunate.

All states are different when it comes to real estate licensing law. I suggest reaching out to the broker in charge and letting them know what happened. He may be liable either way but if he didn't get it to you now, it's gonna be a tough path forward. Broker may be able to help through E&O insurance.

Post: Adding Utilities into the rent mid Lease

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

An amendment should work fine. Double check local regulations though.

Post: Cost Segregation Study

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

@Nathan Gesner thank you.

I did get a couple intros that I will go through and connect with to set up a working relationship. The other tips are also helpful!

Post: Cost Segregation Study

Hersh Shah
Agent
Posted
  • Realtor
  • Atlanta, GA
  • Posts 104
  • Votes 71

Atlanta investors! Who do you trust to do your cost segregation studies for residential investment properties?