All Forum Posts by: Kenny Dahill

Lots of sound points in this thread.  I think your best option is to solicit bids from multiple management firms and then decide which one aligns best with your interest.  Or perhaps you just need tenant placement and self-manage the rest.

Open discussion about creative ways to generate additional income on top of rent for your properties.

Has anybody offered a technology package?  It could consist of a Roomba and (2) Alexa speakers, as an additional source of income?  Assuming a budget of $500 to purchase the three devices, you could create a separate lease agreement of $25 per month for these.  It'd generate $300/year, making your money back within 2-years.  And it's protected by the security deposit as well.

One of my properties is near a large university.  We have a pool table which really helps sell the place to college guys.  We include it in the house but we could offer it as an add-on.

Truth is you could lease a lot of different add-on's: BBQ, pool table, TV's, etc.

Has anybody had any luck with this approach?

@Ben Einspahr There will be a cost different but also tenant placement could be filled by agents as well.  No reason you couldn't self-manage if you got tenant placement covered, especially since Omaha is fairly close in the event you needed to bolt over there.

@Phillip Jones It's important to reach out to multiple management firms to get competitive proposals but more importantly, aligning best with your goals and needs.  I'll see a message for more info.

@Josh Yeary Have you asked the current PM about their current efforts?  Is there any way to get in contact with some of the tenants who viewed the property in person to get their perspective?

@Phil Capron I sent you a direct message to discuss.

Simple.  FITFO!

In all seriousness, I learned by watching Youtube videos before I started a project.  I volunteered to help friends, family and neighbors with their repairs.  Not for free, I would always charge them.  However I charged them in tools, I got more and better tools and they got more affordable repairs.

Figure out first what you're comfortable with.  Kind of comfortable with.  Not comfortable with at all.  You start to dabble in other trades and eventually you're skilled in enough trades.  It's also important to know these skills so you can later confirm which contractors are taking advatnage of you; understanding time, quality and general material costs.  You also learn which tasks you'll never want to do again and gladly pay!  For me, tile work.

Hope this helps but more importantly, just start figuring it out!  You'll mess, a lot.  But you'll learn that way.

@Roi C. I don't think anybody has truly answered this:  $45/hr.  That's a general handyman unlicensed for whatever scope you desire in Phoenix.  

$45/hr is ballpark.

I personally haven't done this but I'm curious if you can mandate a pre-inspection with the landlord.  Move out a week early, fix everything and then have them inspect everything that they would dock from your deposit.  The key is moving out early so you have time to make corrections if needed.  Then there is no excuse.  The problem would be getting them to commit and look at this, I know a lot of management firms utilize these deposits for extra revenue but they need to be fair and give you every opportunity to correct.  At least that's my opinion...

Joshua, I sent you a direct message.  We can help you solicit good quality property managers in Columbus.