All Forum Posts by: Manco Snead

No idea how to find a good PM. The problem as I see it is there are too many variables to quantify in an interview. Even if they answer your questions correctly there are still a million things they can do wrong. How are you going to quantify things like: how long for you to respond to my emails/questions?, how many mistakes are you going to make?, how do you I know you're using quality/honest contractors?, how do I know you're going to pay attention to detail?, how do I know you're going to put time into finding a quality tenant?

My experience is that you don't know the answers to these questions until you've been with them for awhile. My view of PMs is that owners don't pay them much, so why would they put alot of time and effort into your property? I've hired 3 PM companies to date; the first two were horrible and I fired them, the 3rd is newer and still in the "we'll see" phase. If this one doesn't work out I'm done with PM and will just start burying jars of $ in the desert or something.

Friendly advice; use correct grammar or people may not take you seriously on this forum.

Greetings,

OOS of state 1 level duplex on concrete slab. Hired an honest seeming young guy through a reference to do some simple turnover work (couldn't find a pro handyman).  When he moved the washer/dryer into the adjacent unit he didn't tighten the water supply hoses and water (alot of water) leaked onto the kitchen floor for 4 days. Enough water that when you step on the flooring water seeps out. Was planning on replacing the crappy old LVP anyway, but the damage to everything else could be alot. I'm OOS so haven't seen it in person. Could be a professional dry out if directly on slab or worse if has subfloor. Not sure how to handle this. Thoughts?

Unless she plans on moving out soon I would deal with the issue now by replacing all the carpet and the kitchen floor with quality LVP, then you're done with it for a long time. It will be a hassle, but worth it.

Why would you move here? Exploitative health care system, no real wage increase in decades, some of the highest obesity rates in the world, poor education system (= uneducated people), gun culture everywhere. I'll move to Sweden and you can have my spot in the US. Even some people from poor countries move here and end up being shocked at the realities of America. America has been very successful in advertising itself for many decades, but the ad is, at least partially, a facade. There is opportunity here and no famine, but it's not all rosy like the real estate tv shows suggest.

@Account Closed Interesting. So how can small RE investors like myself use that information to our benefit? And are you implying that alot of these now-high-priced properties that won't cash flow are being bought by corporate investors? And maybe more properties than in years past are being bought by these corporate investors? And if they are buying more properties than in years past could this aid in keeping prices high as there are now plenty of buyers for these overpriced properties?

Look mostly at multifamilies out here on the west coast I'm not seeing any cash flowing properties. Knowing rents in some of these markets, PMI would maybe be covered, but barely. So who is buying these properties? What am I missing? Do they know something I don't?

@ Bill Brandt Good tips, thanks. Top loaders and check the dryer door.

@Bill Brandt Thanks for the feedback. The unit is $1000/month. Will probably go for the less expensive appliances.

Greetings,

Debating here; need a washer/dryer for a class B unit of a duplex. I generally like quality up front, then you don't have to mess with it as much. There are Maytag, Amana, Whirlpool type home-use washer/ dryers (~$1400 for both), then there is the Speed Queen (~ $2600 for both). Everything I've read says Speed Queens have few issues and last forever. Too fancy for a rental or a better idea because it will last and you won't have to mess with it?