All Forum Posts by: Joel Fohrman

Hello!

When you take ownership of a building that has current tenants, what is your protocol for introducing yourself? A letter or email introducing yourself and giving your contact info and instruction for where they should pay rent? What is your protocol to ensure a smooth transition?

Thanks!

Hello!

I'm somewhat of a newbie, and looking to purchase a multi-unit rental property in the $300-$500k range via a 1031 Exchange in the near future.

Running numbers and it's looking like the best deals will net me between $800-$1k per month. Is that considered good, or should I be shooting higher here?

Any thoughts/suggestions/ideas would be very helpful. Thank you!

Hello! Does anyone have any experience or insight on investment properties based out of state? I am located in Chicago, where the Cook Country real estate taxes are unbelievably high. It seems like there's a lot more room to make money by purchasing a rental out of state, where of course I'd need to hire a local property management company to oversee the day-to-day, etc.

Assuming the right property can be found, it can't just be as easy as ballparking roughly 10% of rental income to go to the property management company... can it? What am I missing?