All Forum Posts by: Jenny Zhang

 Subject to deals can be found anywhere and everywhere! Some people target comercial deals for subject to or seller finance. Some small or large multi family. Some just doing fix and flips. You can structure literally any property with a subject to deal if you know how to structure profitably for you. :)

 Got it, so the basis limitation meaning the basis went to zero? That would make sense.

When your CPA says that because you didn't invest any additional basis or money into the LLC's, hence you cannot claim the accelerated depreciation, she is not taking into consideration that your RE status will allow you to deduct passive losses from your properties against your husband's ordinary income. If you didn't have RE professional status, then she would be right. You'd have to carryforward any losses that went beyond your LLC's basis. But I find it hard to believe that any CPA would not understand this.

I have invested in many syndications however not this particular one. What were the return projections for this particular fund and what types of properties were they targeting?  I will tell you that many people who invested in Class B or C apartments during that time got a variable rate loans which was based on SOFR ( secured overnight financing rate) + set number.  The rates in July 2022 were around 1.5% and now 4.8%.  That will kill the cash flow.  You need to reach out and get update on status.  

No, people generally don't ask the right questions because they don't know enough. 

States with fair laws and courts are important. What's really important? Knowing the law, treating tenants honesty and fairly, documenting everything thoroughly, and establishing strong policies and procedures to stop problems quickly. That will keep you out of court, which is far more important than winning in court.

I have 400 units under management and have only performed two court evictions in the last ten years, but I've kicked out dozens of Tenants for non-performance through other means.

No personal recommendations, but maybe this will help.

Start by going to www.narpm.org to search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start. You can also search Google and read reviews. Regardless of how you find them, try to interview at least three managers.

1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their staff qualifications.

2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.

3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees. Fees should be clearly stated in writing, easy to understand, and justifiable. Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate, particularly if you have a lot of rentals.

4. Review their lease agreement and addenda. Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.

5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.

6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. The fact that a tenant is complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.

7. Look at their marketing strategy. Are they doing everything they can to expose properties to the widest possible market? Are their listings detailed with good quality photos? Can they prove how long it takes to rent a vacant property?

This isn't inclusive but should give you a good start. If you have specific questions about property management, I'll be happy to help!

Hi Team, 

I am currently seeking a good property management team in Philly metro:  a small apartment and two townhouses in Parkesburg PA. The current property management team is not working out.  I do have tenants that are in Sec 8 and other housing assistance program such as ERAP, such knowledge is needed. 

Really appreciated your recommendation. 

Jenny