All Forum Posts by: Kevin Garcia

Professional property manager looking to manage a few doors/small private portfolio on the side.

Owners: let me know if interested. Thanks.

"RentRedi, Stessa, Avail, Innago, Apartments.com, and TenantCloud."

Wonderful, thanks.

WHAT IS A VERY CHEAP BUT GOOD PROPERTY MANAGEMENT SOFTWARE FOR A SMALL, HUMBLE PORTFOLIO (a couple units but slowly growing)?

[And just out of curiosity: What is the best property management software for managing many units professionally? At the company I work for as a property manager we use AppFolio. But I was wondering if anybody has a preference for AppFolio, RealPage, Yardi, DoorLoop, Buildium].

Investment Info:

Single-family residence fix & flip investment in Los Angeles.

Purchase price: $200,000
Cash invested: $50,000
Sale price: $300,000

I helped my friend to invest. He would buy the house, put the money, and I would oversee the entire rehab process. 50-50.
As the real estate agent, I was in charge of representing him both as the selling and listing agent.
My very first flip, it was awesome, it was fun... and at times a nightmare! But oh it was so worth it!!!

What made you interested in investing in this type of deal?

$

How did you find this deal and how did you negotiate it?

Found it on the MLS, called the agent, and told them we were really interested. They were easy to work with.

How did you finance this deal?

My friend bought it and put the money to rehab it (though my dad and I put money into it too).

How did you add value to the deal?

New kitchen, new paint throughout, added a room, new carpet, landscape, new windows.

What was the outcome?

$50,000 return on investment ($25,000 each).

Lessons learned? Challenges?

Hire a competent contractor. Cheap=costly in the long run.