All Forum Posts by: Greg Kurzner

Hi Kelsey, if you want to talk with one of our project managers for your licensed general contractor firm, let me know. Our GC firm supports repairs, renovation and remodeling for our 800 home rental portfolio, work with local and national investment firms and individuals and knows the needs of investors both fix and flip as well as buy to rent. IM me if you want me to connect you to Property Pro Services, LLC.

Greg

I agree with Josh.  Being grandfathered in condo communities that are tightening restrictions means you likely will be able to push rent in the coming years as demand for rentals meets with less supply.  Yes you can get potentially a better return on the equity if you re-deploy into another investment but we represent several institutional investors and their cap rates are in the 5.5 to 7 range.  Properties at the 7+ range is becoming difficult to find in volume so sticking with a property that is performing well and that has upside given the grandfather feature, I would hold on to it.  MHO.

Greg Kurzner

Luke, we work with several institutions as well but occasionally have small portfolios that spin off from our property management division and would be happy to pitch when that occurs.  Connect and send me your contact info and I will have my Sales staff member keep track of it next time we have a portfolio if you like.  Also, if your institution might be considering 3rd party property management, we would love to talk to them.  We have managed for both Colony American and Progress Residential in the past and know how to work with institutions.  Thanks.

Greg

Wil,  I own 11 MH's with the exact same situation.  I know in granular detail how you go about getting it worked out.  Feel free to connect with me and I can walk you through.

Kyle, it isn't crazy to invest out of your area but as many others have mentioned, it is harder for a variety of reasons. That being said...and certainly I am biased...why not buy in Atlanta? I was speaking with a multi-billion $ institutional investor's COO several weeks ago and they said when they went to Wall Street to raise money, every banker wanted to know how much of their portfolio was based in Atlanta...meaning, Wall Street knows that Atlanta is a very stable and quality location to own in and while return may be lower than other higher risk areas, it is a quality area and top of the bell curve in most return and risk respects. Multi-family is a more difficult buy especially for a newer investor. If you focused on acquiring SFR's initially and then step up to small MFR's after you have worked out the kinks, that would be likely easier and safer. Happy to talk further if you like when you have time.

Greg

Welcome Kareem!  Congratulations on your first property.  If I can be of any help or provide advice, welcome to do it...if you need help with management or repairs and renovations we would love to help.  Regards,

Greg

Devin,  I would love to talk to you about your project(s).  One of my companies is a licensed general contractor and we specialize in working with investors...we support an existing large rental portfolio but also work with self-managing and BFF investors on remodeling and renovation projects.  

Thanks.

Greg Kurzner

Property Pro Services

I would agree with Dan.  Vacancy kills returns.  A long-term tenant turn will cost more than typical and the loss of income if the current tenant moves due to vacancy while you turn and re-rent will take a while to recover even with the added monthly rent.  If you can keep a tenant and avoid vacancy income loss while gradually pushing rent, you are likely to have the most optimal outcome.  Most tenants evaluate small rent increases compared to the cost to move...if you make the increase small, most of the time the tenant will stay...change it by more, they will move.  If you wanted to try to move rent you might see if the tenant might want some improvements done to the property which you could do to get the higher rent and/or lock in a multi-year lease.  My two cents.

Hi Lance, We manage hundreds of SFR properties in all of Metro Atlanta and we charge $250 non-refundable fee for the 1st pet and $250 additional security deposit if there is an additional pet(s). The fee is non-refundable and the additional is should there not be damage related to the pet. That seems to be representative in the Metro Atlanta market.

Courtnay, I agree with Mitch that it is easier to approach investing and all of its components by essentially outsourcing the needed activities until you can do them as well or less expensively.  There are pitfalls in the entire process...from sourcing, analyzing, scoping the repairs, doing the repairs, leasing the property, managing it or flipping it, how you do those things ultimately can make or break your investment goals.  There are investor-focused agents and other professionals that can help.  Our firm does all the above for many of our new and seasoned investor clients so if we can help, please let us know and regardless, we would welcome the opportunity to provide you input and our experience to help you get rolling.

Greg