All Forum Posts by: Jeff Exline

Was interested in targeting locations for long-term rentals within the military community.  Has anyone had much success with this? 

Without much research, it sounds promising - stable source of income, leasing to promising, young americans launching a military career - but I am interested in someone's perspective that has been afforded the opportunity to rent in these types of areas.

Hey guys - 

Need to organize my life - aka bring an experienced real estate CPA into the picture. 

Few thoughts ... I am open to a remote relationship with a CPA (doesn’t have to be local).  

I am pro-remote work for so many reasons other than just purely opening the talent Pool up.  

Teach me!  Looking forward to responses

Ray - To your point - there is a lot of transparency between the investor and PM which, if we are being honest, they don't feel as bad taking some extra off the top to come through with what the investor is comfortable with. I really enjoy the input, it's good to see from different standpoints. Again, I know managing abroad/distant areas is much more difficult. I am interested in hearing some feedback from people in a similar situation. I understand I am a little early in my real estate career and would love to grow much more, I suppose this is part of the growing phase, right?

Shawn I appreciate the insight. That certainly helps, I think I have a solid game plan to build a little organization, keep costs the same and feed the team. I think right now I am just feeding the wrong people and it's hurting me - will shift that when their contract expires.

Thank you for all of the feedback In attempt to reply to all of the excellent feedback: The properties are in Stevens Point, WI. From my understanding there are two property management companies in the area and this one came as a recommendation. I guess ultimately I am displeased with the service of my current PM, I only have two other options: (1) the other PM (2) start my own PM. I think I can develop a team in the area and I know enough real estate investors to make it lucrative but may be adding more to my plate instead of taking some off. My objective is to take some work off my plate with keeping the costs either fixed or better. My initial thought was to hire someone to do all my petty tasks and give them an opportunity to learn about the PM side of things and get their feet wet in the real estate market (resume builder) - someone fresh out of college that is hungry to learn. Although managing in different geos is less than ideal in most situations, I have enjoyed learning about the different types of markets in those respective geos - big learning process for me which has its pro's and con's. I REALLY like the market in stevens point because it has very good margins and it's relatively low barrier to entry. I would like to do more in the area but unfortunately I am bound to my bread and butter Job on the railroad which has me moving on average once a year Again, I appreciate the feedback. The more the better - it has really been a great experience and I want to keep going.

I was lured into using a property management company for two properties I purchased for rent. I was initially worried about moving further away from the real estate and managing from afar so I felt obligated to hire a property management company. I thought I was getting a good deal when they offered 6% of income and I negotiated down to 5%. Now I am being nickeled and dimed to death, dealing with a very disorganized company, terrible marketing strategy which result in 5 months (cumulatively between teo properties) and poor decisions being made from the property management company to solve tenants problems costing more money than it should. Needless to say, very poor experience and I am less than pleased. Before hiring this company I was managing them myself from in the area and didn't have many issues other than dealing with an older home with the occasional call to the handyman when my time was spread thin and honestly felt like it was possible to do from afar but didn't want to risk issues down the road and wanted a TRULY passive experience. Here is my current situation: I live in chicago Two single family rentals in Wisconsin One condo rental in chicago One single family rental in Louisville KY Working on another rental in chicago currently Is it worth it to hire someone near me to manage from afar and develop contacts such as a handy man in the respective areas to manage?

I will finance the property purchase with HML. Partner will finance contract work at cost, throughout flip will take draws for work completed. Past experiences - what is fair way to split profit?

Who finances the rehab upfront costs:  material, labor, etc. 

Projecting for 80 to 100k on first flip. Will make my mistakes, get my feet under me. Have resources available for multiple homes, would eventually like to tap all resources available then keep growing

Unleveraged assets begging for opportunity! I would prefer to leverage assets for HML to start flipping vs using cash but all lenders want is 75% LTV + rehab A lot of opportunity, resources in place to make good $$$, just need a kick start.