All Forum Posts by: Kevin Vincent

 Ohio, Cleveland area. 

Hello all,

Hopefully this is the right place to start!

I am an investor expanding my property portfolio to include out-of-state properties and am currently seeking a reliable and experienced general contractor. I would prefer the individual to have a strong background in property renovations and maintenance, excellent communication skills, and a proven track record of managing projects efficiently and on budget.

• Preferably Licensed and insured.
• Experience with residential property renovations and maintenance. No major renovations at first, but slowly building to that.
• Strong project management skills.
• Ability to provide references from previous clients.
• Clear and timely communication.

Looking to start and build a solid and beneficial two way business relationship if/when the right GC comes around. Any help, contacts, or pointing in the right direction would be extremely helpful. 

Thank you in advance!

Hello all,

Hopefully this is the right place to start!

I am an investor expanding my property portfolio to include out-of-state properties and am currently seeking a reliable and experienced general contractor. I would prefer the individual to have a strong background in property renovations and maintenance, excellent communication skills, and a proven track record of managing projects efficiently and on budget.

• Preferably Licensed and insured.
• Experience with residential property renovations and maintenance. No major renovations at first, but slowly building to that. 
• Strong project management skills.
• Ability to provide references from previous clients.
• Clear and timely communication.

Looking to start and build a solid and beneficial two way business relationship if/when the right GC comes around. 

Thank you in advance!

Thanks for the great insight! The 1 month rent is pretty steep but thanks for confirming that is the norm. 

Hi All, 

A few questions that came to mind in these early stages; I understand these questions don't have a right or wrong answer but I would like to hear the different opinions. 

1. Is it better to work with an investor friendly agent that is part of a large team who works with tens of other investors? Or an investor friendly agent who has a smaller pool of investors he/she works with? I feel like the more investors the agent works with the more competition I will have within my own "team."

2. Is it wise to work with the agent's GC, property manager, lender etc, or should I do my own due diligence on entities outside of their circle?

3. I've read that the average property manager fee is between 8%-10%. But is there also a fee for new tenant placement? I've seen property managers charge a full month's rent for tenant placement. In my mind that seems expensive. If I am only cash flowing on a property, (purely hypothetical) $200 a month, and my rent is $1000, after a year $2400 cash flow is almost cut in half just by the tenant placement fee. Is that the normal rate?

Any and all insight on these would be extremely helpful. Thank you!

 Thank you CJ. I'll definitely be reaching out to you with a few questions. Appreciate your offer. 

 Hi Ken, 

I'm more leaning towards creative financing, but I like leaving doors open for other opportunities. So i'm not opposed to creative financing if it can be had and if it makes sense for the property in question. 

 Thank you Min, appreciate the info! I'm open to class C neighborhoods, I think at this time class D may be too much to bite off. A neighborhood grade guide would be extremely beneficial. I would like to a find a balance of cash flow and appreciation along with better tenants. 

 Thank you James!

 I have, I looked at some of the metrics, but I don't think it quite fits my search criteria. Mainly because of the median sale price of homes is a little higher than i'm willing to start with right now. If i'm correct the median sale price is sitting around $250K-260K?