All Forum Posts by: Jason Mergl

I am still pretty new to the area but I am ready to jump in and start investing in multi-families in the Albany and surrounding areas.  Since this is something that is best done with a team of experts that know a lot more than I do I am putting this request with help from the bigger pockets community to get me started on my road to success.  What I am looking for is:

1. A Mentor – I am new to the area and hoping to find someone to learn from and help that knows the area well and can guide me in the right direction.

2. Realtor – Someone that understands what an investor is looking for, knows the investing landscape, areas to invest, and is willing/able to show lots of houses before the right purchase is made.

3. Mortgage Broker/ Bank/ Hard Money Lender – Someone that has experience working with other investors. Sometimes needs to be creative to get the deals.

4. Real Estate Attorney 

5. Escrow Officer or Title Rep

6. Accountant – Preferably a CPA.  Well aware of the ins and outs of real estate and different entities.  Knows real estate tax write-offs and how I can best apply them!

7. Insurance Agent

8. Contractor – This is one I really need help from the bigger pockets community in the local area.  Your input and experience with a good contractor would be greatly appreciated.  

9. Property Manager – This is another one I really need help from the bigger pockets community in the local area. Your input and experience with a great Property Manager would be greatly appreciated.

10. Great Handyman – Someone to take care of the little things that come up on a daily basis.

That's the team I am looking for to start.  If you work in any of these fields or you are a landlord and you can recommend some to me, your help would be greatly appreciated.

Thanks,

Jason

I am in the rare position to have an awesome property manager.  I am an out of state, sometime out of the country landlord and I needed some updates and repairs done on one of my properties.  Before she made any money from me at all, she went out of her way to find a great contractor, she oversaw all the major repairs, and helped fix up my property to its fullest potential.  Once the work was complete, she got a long term renter in there right away.  For all of her hard work/time before receiving a penny from me, I would like to give her some compensation.  What would be appropriate and about how much?  I was thinking a gift card or just cash?  Any thoughts, or is this a bad idea because she is just doing her job?

@Brandon Schlichter great story! Can I ask how you found these great deals?

Does anyone have any suggestions for a good property manager for renting my 3 bedroom SFH in Abilene, TX?

@Amit Kal, how would you go about finding estate sale condos in Manhattan that haven't been updated in 20 - 30 years?  listsource.com (postcards), brokers...?

Has anyone had any recent experience flipping an apartment in Manhattan?  

If yes:

1) How did you find an apartment that was distressed and needed rehab work? Realtor, postcards, wholesaler, Streeteasy, Auctions...

2) What were some of the challenges that you ran into?  Permits, contractors, parking...

3) ROI? Can you give me numbers please?

4) Would you flip in Manhattan again or go elsewhere?

5) Anything else you could add

Bill and Jason, thanks for the advice. I am in the military and I live in a small city with a population of fewer than 150K, there are no REI clubs and I am having a hard time finding a realtor that deals with investors. Looks like I’m on my own for a while. I'll be relying on BP and long distance mentors for my RE Investor insight!

I know this has been talked about before but I cant find it. How to you find the ideal properties to buy/sell in your local area? i.e SFH, 3/2, 1400sf. I don't have access to MLS.

Bill, I have never done that. All of my properties were purchased from the MLS with a realtor. I just started writing a business plan, and that idea came to me. I am glad I looked it up before I started doing it. Thanks for the advice!