All Forum Posts by: James Vermillion

Congrats on taking action, completing a deal and learning a lot. You accomplished three things that many other people only talk about. Good luck!

I agree on the information packet but I think anything else is overkill. If you are providing the proper services to your tenants at the right price and treat them well then you will not have a problem with excess vacancy. I do not see who buying someone a gift will convince them to stay if they were considering moving. In my opinion they best gift you can provide is being a good landlord.

Another milestone coming up? Congrats!

There is definitley no right or wrong answer to this of course but I think there are a few rules of thumb I would apply:
1) Keep it professional
2) Do not relate it to flipping...this can have a
negative stigma to some people and you
may change your business model over time
3) Check with registered businesses in the
state you open your business in to make
sure you do not pick a name that can get
confused with another business

This is a grate thred...it is funny too think how meny poeple do not now how to spell. I really look forward to seeing what else people right as the most mispelled werds and frazes.

I agree with everyone about percentage based as opposed to dollar amount. Another thing to consider when looking at how much profit you should expect to make is time. Sometimes a flip may cost a lot of money because of one or two major items but you can get it rehabbed in just a few weeks. If that is the case you may be willing to take smaller percentage profit since you can quick turn it.

4. Take a look in the mirror and say whats up

I think that it is a bonus to have your own domain email, however, I think it is fine to have your name @gmail.com.

Anything else is in poor taste in my opinion.

Your crystal ball was partially right....almost 2 years and counting :mrgreen:

Steve has a nice list of mistakes that are commonly made, which shows you just how difficult the business can be. Of the ones listed so far, two in particular stand out to me.
1) Underestimating repair costs- this happens over and over and over again.
2) Over/Under fixing- it is very important to understand the market you are investing in and to work within that market, not outside of it.