All Forum Posts by: Jordan Thibodeau

If you give a percentage of what you guys make, he's more willing to work and you only pay him when he produces. If you pay him a flat hourly fee, he knows his earnings are capped so he has little or no incentive to close deals.

I don't know the guy or his skill set, if you think he could grow your business and grow WITH the business, you should consider a percentage.

That a boy Grant! Well done sir!

@Account Closed I agree about Reno.

Ever since California legalized gambling, it has slowly been siphoning off new gamblers from the Reno crowd. I usually head up to reno once a year, and unfortunately downtown is littered with abandoned commercial buildings. I hope I'm proved wrong, but the longterm viability of Reno, which is based on entertainment, is in major peril.

Toby: Scout out areas outside of the bay area first, then think about exploring out of state. It's better to own a property you can drive to and manage so you learn the trade of being a landlord, rather then buying a property out of state and praying that your property manager won't screw you.

You should be upfront with that. It's better to screen out people who cant close early, rather than being 2 weeks into escrow finding out that the person can't close.

You could put some feelers out, but I wouldn't make that your top priority. I would focus more on deals and honing your tenant screening process.

@Dennis Lanni Can you send me a link to your listing?

IMO: People go both ways on this, but if you plan to continue investing in real estate, it's worth setting up a relationship with a CPA so you can maximize your deductions.

Over in CA LLCs cost $800 per year, I went with an umbrella policy and I'm happy with it. For your first property, an umbrealla should be sufficient, but once you get to the monopoly guy level, you might want to look into a LLC.

As for your last point, why are you looking into evictions?

@Toby Johnston why out of sate? Have you looked in Sacramento and other areas outside of the bay area? Opinion: At least you will have some control over your property if you buy it within driving distance.

Yep, and it's good to have a CRM system so you don't forget when to check in.

I enjoy the challenge of the business and being able to be good community manager for my tenants.

If it's all about the money, you'll find yourself chasing returns, over extending yourself, or leaving the business in the midst of a downturn.