All Forum Posts by: Krishna Chava

All my tentals are within 45 minutes of my home. I get that some people donlkng distance investing even of single family homes, I would never do that unless apartment complex >100 units

I would go with a larger property management company that is registered with NARPM and has a reputation to loose. I would also make sure they would act as good legal shield between me and tenants. Only case I would go with a smaller company is when I expect them to grow with me and have a symbiotic relationship along the way. In general, property management is one of the jobs that can either be done well or not at all. If I have small number of properties, I would self manage and make use of ever increasing technologies to streamline my job.

I did the exact same i.e. purchased LLC instead of properties. Doing so I assumed portfolio loan of seller and didn't have to pay another title insurance. On the flip side I don't know what hidden liabilities LLC had. So far worked out OK, but wouldn't do it again.

Everything else being equal, I would get loan at purchase time. Any refinancing terms always are worse compared to initial financing. Something not prominently discussed on biggerpockets

TVs are cheapest of amenities to add and certainly seem to be well appreciated by guests. One thing I note for Airbnb is ROI on additional purchases like TV is much higher compared to a traditional rental. There isn't anything like value vacation rental. Everyone expects luxury in a vacation.

I haven't been investing in 2005, but I think prospects for long term buy and hold residential properties is good now in 2018. Lot of the properties I have are still appraised below repalcement cost of structure and rents are less than 1200. With inflation taking over, I don't see how they loose value in future. I am also in a population centre growing fast.

Plains capital. I have all my porfolio loans with them. PM me for banker contact.

I self manage 75 doors with a 50% partner. We have maintenance guy who lives in one of our properties and takes of issues as needed. So, far we are doing OK, probably as good as an average property managers. My main concern is that I can't get to properties often and don't have control over who lives in there as long as someone is paying rent.

When I listed my vacant properties, I had very desirable prospective tenants  turn away because they like tenants but not "neighborhood". 

What are your issues and pain points? Any tips?

@Fred Heller Thanks for insight about how property managers hate vacancies. It make sense now that you said it. 

@Jeff Kehl Agree, If I can find someone small who would grow with me as I expand, that would be ideal. 6% is very good rate.

I thought starting a property management company, but, instead, I am working on a tech solution with a silicon valley partner to help with most of tasks. It's basically a network of cameras that would work like video door bell for the tenant, but at the same time collect data for landlord as to how many people are living in each unit, any break-in attempts, any issues with common area etc.,