All Forum Posts by: Kenneth Mooney

@Crystal Wilson my market is $250 non refundable for first pet and $100 for every pet after that (max 2). $25 per month for first pet and $10 per month for each additional pet for “pet rent”.

We have no issues getting this.

@Shawn Ziegaus I think there are people who say stay away because there are A LOT of really bad property managers out there.

I’d recommend finding a good one, that has experience with investors, and can help you with every piece of the puzzle. You’ll be very happy if you can find that company (there are many out there).

@Quentin Mitchell the LARGE majority of investments I do and see people do are Class C properties. Would highly recommend them for a variety of reasons but mainly that you can make good money if you know what you’re doing.

However, if you’re having to worry about “an endless supply of tenants” you should evaluate your market against others.

@NIcholas Hamel It completely depends on your market. Ultimately it IS a lead source. For my market personally you can find deals from time to time but it’s very unusual. The best deals I see people get are from personal referrals and personal marketing. Hope that helps!

Thien, unfortunately this is all too common. I made this mistake as well in the beginning and got lucky that they did not skip town. I feel like I've tried just about every contractor in Augusta and every single time I come back to the fact that I just need to buy the houses lower and hire a professional to do the job. 

I recently almost had to file something that would have put a warrant on the contractor but luckily the guy came and finished the job once I had mentioned this. I'll DM you to let you know who I would recommend contact (attorney). 

@Kathy Fettke my experience is a unique one I think. I work for a property management company and every time we’ve had an owner want to use one it’s actually never benefitted them. Sure, they save some money but often times the warranty work is overflow work for the vendors actually doing the work so it’s not a priority to them. So, resident satisfaction declines due to poor response time and often times I’ve seen the poor response time cause more damage to the property from the issue.

I personally recommend people not to use them. It does put a larger importance on purchasing the property correctly and renovating it correctly but investors should be doing that anyways. That’s a big should though.

Yeah, you have to live in the house in GA too. 

Nicolas Ake, completely depends on what price you purchased it at and what you put the 10-20k into. 

Kathy, is this for a property you personally manage or is it a property management company that manages?

I agree with Dan here. Not enough information. Need to know what the mortgage payment would be and what the additional payment would be. It sounds like you are probably paying retail pricing though. 

What would the rental rate be once you get a renter in place?