All Forum Posts by: Larry Tracy

Alex

Choosing a property manager is essential to the success of an investor. NARPM is an excellent organization that ensures property managers meet professional and ethical standards to be a member. Property Managers that are a member of NARPM receive extensive training and guidance. This enables them to provide investors with the property management services necessary to make them successful and profitable. I have been a NARPM member for over 12yrs.

Mr. Chung

I would like to speak with you concerning your current setup and what the advantages of self managing compared to using a property manager. I am very owner friendly and provide custom property management setup for your portfolio and investment goals. I am available at your convenience.

I sincerely enjoy providing property management and real estate information.

Mr. O'Donnell

The Indianapolis market is still a very profitable market for the investor. There are opportunities in the Indpls. market from the A - D type markets. The prices are improving for the buyers as the market transitions to a more stable / normal market. 

I sincerely enjoy giving property management and real estate information.

Subleasing generally does not work in favor of the landlord. The person subleasing usually is a person that would not be able to qualify for the unit through the normal process. The landlord loses control of the lease terms, because there is a secondary set of terms that may violate the original lease terms. Subleasing gives the tenant flexibility, freedom, and options and gives the landlord a substantial increase in risk and liability with no financial reward.

I enjoy providing property management and real estate information

Tenant screening is a challenging, but critical piece to being a successful landlord / investor. It is a process, the first piece is to charge an application fee.  That will discourage a large amount of bad applicants. You want to have an income qualification such 2 - 4 times the gross rent to qualify for the unit. Being new I would say no prior evictions will be accepted. Complete a rental verification, but it should not be from any family member or an individual, request there last apartment, or property management company as a rental verification. They should have an employment requirement 1-3 yrs on their job. Get proof of all income. Pull credit, judgment, and criminal reports. Look at social media and mycase.com     There are many steps to a quality and effective screening process. 

I enjoy providing property management and real estate information

Winter months are definitely the most difficult months to occupy units. Especially after the Halloween holiday through the New Year. That is why at BHB we have all leases end from 3-31 through 09-30, to avoid the slow rental season. 

Its a pleasure to provide professional property management and real estate information.