All Forum Posts by: Lance Rush-Mills

@Taylor Roeling Thanks for the dialogue. Our software is going to focus heavily on customer service as well as the educational component of managing a property. We want to provide the information that allows landlords to make the best decisions ranging from actual operations to legal concepets as well.

Thanks for the replies so far! I really appreciate it.

What tasks are the hardest to do on the software you use? What do you dislike about your software?

So, I left a large multifamily real estate brokerage and management firm after a few years when I realized what a mess a lot of property management companies and software are in my area. I started making software with a co-worker for property management and would love the feedback of others about their pain points.

I just want to make sure that we nail the parts that are typically the most annoying or difficult for people. We have a strong understanding from our own work experience and using multiple softwares ourselves, but would appreciate the feedback.

@Blake Gansborg,

My favorite non-text book about real estate finance is: What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli

I does an excellent job of breaking down different financial metrics and giving good examples. That will give you a good base understanding of most finance you need to know.

For a deeper  understanding, the textbook: Real Estate Principles, a value approach by David Ling. This textbook is my favorite and I reference it often. I used it during my undergrad. On amazon you can buy it used for $34, so not too bad.

@Christian Mano,

Here are the places I look:

• Loopnet and Crexi for commercial
• MLS (I have access)
• Open listing sites  (Zillow, realtor.com, etc.)
• Inventory list from brokers.
  • Many companies and brokers will let you view their active inventory on their website or offline. You can sign up for their mailing list and get alerts when they have new deals.
• Relationships
  • I would talk to brokers in the area you are looking for and let them know your criteria. Do everything you can to provide information to them and prove your credibility. Once you've built a relationship you will be at the top of their list for investors they send deals to.

Deals can be found on any of them. It's just about seeing and getting to them quickly. Back when I was doing multifamily brokerage we occasionally came across some great deals on LoopNet that were posted by brokers who severely under-priced them. We had to act quickly and submit an offer the same day before they got bombarded with other offers.

Hope this helps!

@Justin Lee Welcome! I'm new here as well, not from WA though!

I'm going to be buying my first property in November of this year. I'm looking out of state right now and trying to do turnkey. I'm doing tons of research and am happy to share info with you as I narrow down my search and find a good provider/area.

@Alex Price, As of right now Cincinnati and Toledo.

I'm still looking for other companies and then researching both the companies and then individual cities. Looking at info like demographics, market velocity, rents, etc.

Hey @Eric Haug,

I've been researching turnkey companies. I'm planning to buy a property in the next few months and doing due diligence.

The two I've come across so far for Ohio are Ohio Cash Flow and Norada Real Estate. I'm diving deeper on both as well as some out of area turnkey operators as well. I'll post more here if I come across them.

If anyone has experience with either of these two companies I'd love to hear about it!

I'm interested to see the impact in has on both new development of SF and MF.

I also wonder how it is going to impact the demand in the rental market based on aesthetics. Money and legislation aside, depending on the types of solar panels used they can really look bulky and lower the design aesthetics of the property IMO. Anyone share similar thoughts? 

Lindsay, I've been investing in CA deals for the past two years now. I have just pitched in with minority interest in apartments. Now I'm ready to tackle my own deals.

I've been looking closely at Georgia, Oregon, and Colorado right now and doing research on different sub-markets. I'm also trying to find different service providers in those areas so that I can have a good property manager, agent, etc.

How has your search been going so far? Have you honed in on any particular areas? What timeline are you thinking for trying to purchase a property?