All Forum Posts by: Kris Jumao-as

What are your thoughts on buying an existing franchise Property Management Company? They state that they have 20-25 properties managed right now. What are your experiences about this? Should I buy it if the numbers look good or is it a bad time due to COVID

Thank you

@Mike Krieg Thank you for your insight and the blog post. I am totally unfamiliar with syndication and now just starting to google about it. It seems like Realtyshares is the only big dog company for this right? Syndication is very interesting to me and again thank you. By the way how much capital does it take to get into this?

@Mark Fries @Daniel Kong Thank you for the kind words and advice. I doubt i will get a trustworthy property management in this area as the nearest Bigger city is 15-20 min away and i fear my property will be neglected by the company. I might hang onto them and see how it goes for the next 3 months. Unless someone makes me a good offer

Real estate business is hard especially multifamily. I am on the crossroads of just selling everything and moving into REITS, Index funds or dividend investing now that markets are low.  Heres a little background on me:

* I have a full time job as a PT

*I own and manage myself an 8 unit multifamily in Buchanan MI and 1 duplex in South Bend IN. Used to have a property manager but has moved away. Having trouble getting a trustworthy manager. The 8 unit cashflows $1100 after debt service and duplex cashflows about $250 after debt service.

* i have 3 small kids

* recently injured my knee and on crutches and property is a 25 min drive away.

Things are getting overwhelming and im ready to sell. What are your thoughts on this? If you are in my shoes would you sell? I was hoping to sell the 8 unit for 200k and the duplex for 140k.

Thank you all for the replies. Here's what happened:

I checked the closing documents and it was true that i was given Oct rents prorated but i told the old owner that i am not meddling between her and the tenant regarding October back rent. She said ok and that was that. 

Hello all,

I have a question for all. I just bought a multi family property last month but it is seller financed. As the new month rolls in. Old owner messages me that a tenant is missing rent for the last month and wants to know if they paid me for anything. I asked the tenant and they said they already paid the old owner.

Now this feels shady to me that the old owner is asking me for last months rent when nothing was mentioned at closing about missing rents. Old owner tells me that i already got paid October rent upon closing.

What should i do guys? The tenant is getting agitated that she is hounded about rent that is paid. She showed me some text screenshots of the previous owner and her talking about paying the rent but was not able to provide proof of receipt.

Im getting the feeling that i should start refinancing ASAP

Thank you for all the feedback. I was hoping to cut costs but i guess servicing is important to identify problems early and for improved efficiency

Hello All,

I was wondering if any of you guys service your furnaces and A/C every year and if its worth it.  I have recently acquired an 8 unit and was wondering about that. Let me know what you guys think

Thank you

i recommend Denise Graham from weichert realty. She has experience in real estate investing and her husband is a builder as well.