All Forum Posts by: Greg Kurzner

Derrick and Daniel, my General Contractor company, Property Pro Services, LLC could provide you with investor repair, renovation and remodeling services. We work with individuals, local and regional investment groups and even some of the nationals. Our GC firm supports our investor clients we help acquire homes for to do renovations and make-ready repairs...we also do the repairs, turns and remodeling work for a management portfolio of 800+ client rental homes so we understand the investor's needs. If you like connect with me and I can have one of my project managers touch base with you and see if we could be a good fit for you both.

Great you are diving in.  In MHO, if you aren't earning much in savings, use that.  Essentially your cost of money for the down payment is the after tax cost of debt...your home equity line interest rate after taxes versus the interest you are earning on your savings...I am guessing the cost of the equity line interest is more than what you are earning in the savings account...either way, I also suggest hiring a professional property manager to start with.  

Okay, full transparency...I am biased...As a 30 year broker, licensed General Contractor, owner of a property management firm, and the owner of 16 investment properties, I think self-managing to save property management fees isn't worth the hassle, learning curve cost or the liability and risk. Landlord tenant law and fair housing is enough to get most new investors to think twice...plus unless you have access to PM tools like screening services, MLS and other rental marketing sites, vetted leases, vendors to handle repairs...you should let a professional handle it.

If...after a year or two you have observed what they do, how they do it and can see a benefit to doing the management yourself to save the money...then maybe bring it in.  Management is low margin and full of headaches...maybe not with only one property but even with one...picking the wrong tenant or not knowing how to hire the right repair contractor can cause problems and ultimately vacancy...vacancy kills profit...

My two cents.

Greg

Hi BJ,  We can fill in some of the spots on your avengers team.  Essentially, we are the avengers for many out of state/country investors.  We handle property sourcing and acquisition, repair and remodeling via our licensed GC company, and lease and manage our investors homes.  We partner with investment lenders so that would be one area we don't handle directly.  Rather than several folks, let us see if we can provide you a consolidated approach to partnering with you to reach your acquisition and wealth building goals.

Hey Mike, I realize I am a bit late on this post but if you want to talk to us as well we might be a resource for you.  We source properties for several clients and also manage a large rental portfolio some of which is 2-4 family.  Connect via email and we can see if we might be a resource for what you are looking for. 

Jake, we work with both very sophisticated corporate investors and new ones...primarily on the sourcing and acquisition side but also to provide repair and renovation and leasing and management.  We manage properties in almost all the MSA metro counties and in various price points.  There are markets that are emerging and depending upon the target home price and tenant prospect, there are several sub-markets that have significant opportunity.  If you wanted to have a conversation with our acquisition staff, we would be happy to share insight.  G

What type for returns are you seeking?  We are helping investors buy good cash flow properties in Metro Atlanta.  

Grayson, We would love to interview for the job. We are experienced in both SFR and Multi-family management and can handle everything you want. Please let me know if we can connect...

My GC firm could bid on your projects if you PM me. We focus on investor repair, renovation and remodeling and support several large SFR property management groups.

As an agent, a non-exclusive agreement allows you to use multiple agents or no agents but protects the agent with the NEBA where he/she has presented properties to you or acts as procuring cause of the purchase or sale.  Many brokers require their agents to have a written agreement and it is in the agent's interest to have one because, as you said...they don't know how you would work in a circumstance where a property was presented and perhaps you already had knowledge of it or the procuring cause is gray.  The agent most likely would have to provide a rolling list of presented homes to you in order to protect their "claim" to any deal but I agree, some sort of agreement is needed if an agent is presenting offers on your behalf and negotiating either as your agent or a transaction broker.  You can add stipulations to any agreement to make it accommodate your needs and because any commission paid on a listed property is paid by the seller, it is certainly worth enlisting an agent to help with acquisitions when you aren't getting enough opportunities with off-market homes.

John, I have brokered new construction build-to-rent for a national REIT and we have done approximately 350 homes in the metro area. I can give you some insight as to what you need to look for. Contact me off-line if you want to talk.