All Forum Posts by: John Santero

well welcome to BP. Join your local REIA. read some free stuff BP offers. Get with a local investor for guideness - make sure you make him/her some money along the way.

Go knock on doors around your neighborhood. Ask around. Let everyone know you are looking to buy. establish you team. and have fun!

you have to invest in tools in order to do the work. When a plumber or electrician come to provide you a service- I hope that they dont borrow your tools- If all your information came free- than you get what you pay for...It takes time- money- knowledge and determination to grow your business- treat is as a business and you will reap the rewards- good luck.

what did she think a deposit was for? Its usually to HOLD something. Its a verbal -but that is a contract although its your word against theirs. I dont think this will go to court- although you did not specify the amount. I would split it or prorate it and tell her that you are a good guy for doing it and not keeping the whole amount. that she caused you harm by you taking her by her word.  next time say that the deposit is non refundable once they are notified that they passed the back round check. 

I work with out of town and even out of country investors for over 5 years. Each partnership arrangement varies a bit but basically it starts out with a letter if intent that spells out each persons duties and monetary contributions which than converts to ownership percentages.

The underlying point is what I call the "privates code" An example is - lets say we want to split a pie. One person cuts it in half - and the other person has first pick. 

If one person says they will PM the property (or GC it . or finance it) for 10% - the other can choose if they want to ( either personally or hire another PM service ) so it more of less keeps everyone honest and places the eyes on the final prize.

I hope to attend- thanks!

I was the past president of the greater chattanooga REIA and suggest you look them up. They have an upcoming meeting this Thursday- I wont be able to attend but I can arrange a coffee visit with you sometime- good luck

my suggestion is Buddy Presley look him up at presleylawfirm.com he works with all of my out of state clients. good luck

Its tough to do a long distance PM and these are the "face to face" issues that come up that boots on the ground can handle more effectively.

I would suggest that you tell your tenant that because you are not able to see the problem, and that your maintenance person 'Said" it was working correctly- if they would mind if you send another person to review their concerns and see if the repair was done correctly.

Sometimes the maintenance person wants to stand behind their work to the point that you may get slighted info. A third party person will confirm if the door is OK or that other work or placement is necessary. That will only cost you a few bucks- make the tenant feel you care and possibly get another maintenance guy as a fall back if you need them. good luck

If you are interested in a triplex closer to home with GA taxs in rossville, drop me a line.

look up the knonville REIA site and talk to victor. as an investor, pres of the REIA and a real estate agent- he may be a person you want to talk too-