All Forum Posts by: Joseph Hammel

Your right about the FHA limit.

Kyle

I would need more details to give you a good answer. If you bought it FHA you would have paid 3.5 % down I believe. If you did buy it 6 Months ago the only way I can see it having any equity in it would be if you got a deep discount on it. Or added a good deal of value to it. It's a misconception that a conventional mortgage would be a cheaper rate. They are actually usually a bit more. Second and I'm not 100% but I believe after 1 yr you can still get another FHA mortgage. The trick is having enough income to support the new loan.

I have a 36 unit portfolio and I have been on the PRO plan on buildium for about 10 months. Overall Im happy with the service but Im wondering if I can downgrade to the core plan? As it was stated above It would take a lot of leases to make up the price. I dont have any tenants doing etfs either. Has anyone gotten buildium to do a downgrade?

If you dont live there the above are right, Its fraud. However if you do live there for 1 yr then you can move on to the next one.

Ive done a few in Goodhue county. Very easy. You pay 300 for the court filling then the sheriff charges 75 per adult on the lease to serve. You may want to check with a local lawyer that had done them in Anoka county. You can try calling the court office and they might walk you through it. Is it owned in your name or an LLC because that matters when you file.

I agree with @Kyle Baron on Zillow. Note. Start with Zillow and it automatically goes on Trulia and hot pads. (Zillow owns them) CL gets me leads as well. I do have one property that I went to FB on as well but you get a lot of ppl that aren't very serious on there. As far as calling it a duplex or apartment just explain in the body of the ad. Regarding the screening I've been using buidium but it's a little spendy for just that. You can use the services by themselves. Google TransUnion smart move. I think it's 30 per person. Personally all I charge is whatever the BG check costs. Attracting better tenants is a formula. Nice place = nice tenant. If you want to pm me I can send you an app that I've used.

@Jacob A. 

What are you paying for Tenant Cloud?

Hi, I currently own and self manage 36 units, (7 sfh, several 2-4 units and one 16unit) I bought Buildium last yr and Its ok but I see now there is Unitdash witch is free. Buildium is about 1600/ yr! I signed up with unitdash but I havent set anything up yet. Can anyone go over the pros/ cons of unitdash? How do they make any money? I do see the tenant screening is 30 with unitdash instead of 15 with buildium. 

Whoever you chose remember a few tips. 

Ask for refrences. 

Property managers should have a real estate brokers license.

Terms are always negotiable. 

Consider having an attorney review the contract.

@Mike Wood I have been putting that LVP flooring in. Good ideas on the screening ect. The rents are mid market In my opinion for these units and the location. If I could raise them to get better tenants I could. It breaks even at 50% occupancy. I think if I stick to my guns on good good screening I can get some good tenants.