All Forum Posts by: Gene Kardos

Gary,
My compliments on someone finally putting Mike in his place. I get up every morning and read this forum. I have thought for quit some time that this guy is a negative influence on this forum. At times he makes some good points but he strikes me as someone who is fairly successful in this business but gets off on discouraging others from being or attempting to be successful.

As for the property management issue. I am getting ready to purchase my first multi-unit and I will definitely use a PM. My time is worth a lot more than what I would pay them and I think people tend to forget that aspect of things. Some call it the small business owner mentality. If you own your own business and are working your butt off there everyday......whats the point? I'm in this to work less not more.

Just a couple of thoughts and observations from a newbie. (that was for Mike.....thats the first thing he is going to say)

That's exactly what I was thinking. Congratulations though!

If you buy house outright with no financing and rehab it with your own money, is it any easier to get it refinanced that way?

we used them here in minnesota and it cost use about half of what it would have going through a lawyer.

Thanks for the tip sniper. I'm actually not finding much in Minneapolis but I'm going to dig deeper. I can almost guarantee that some of the property management companies in the area offer these services for the banks.

I am considering opening up a property management company that focuses on foreclosed homes that the banks still own. The plan is this:

-market to banks

-offer estimations on monies needed to make it sell worthy and hiring crews to do the work

-keep grass cut, etc.

-notify when previous owner moves out(the foreclosure process in Minnesota is a year long and they are talking about making two!)

-winterize homes for winter(we are in Minnesota and this is a huge issue here)

My question to all of you is do you think this would be lucrative business and are any of you doing this?

Not to mention this would yield great leads for personnel real estate investments!

Maybe what she really wants is not to move. Have you tried to convince her to sell it to you then you can lease it back to her and she can attempt to buy it back in a few years? Just a thought. Seems like a win win situation to me.

wheatie, I was under the impression that there are software out there that tapes into MLS and other data bases and gives you a quick down and dirty estimation of the value of the property that you are looking for. Don't real estate agents use this kind of software. And how do i estimate how much I can rent a place out for?

Hello from Minnesota (again)!
Can anyone suggest some reasonably priced software for comps? Do they make software that does comps for rental prices in the area? Thanks again!

Hello all! Can anyone clarify the differences between Lease options and rent to owns? Any info you could offer would be highly appreciated! Thanks.