All Forum Posts by: Michelle Elsaid

@John Kent and @Benjamin Pekarek I appreciate this information! I will message both of you privately.

PS I am in Orlando, Florida FL 

Hi BP fam!

I want to open up a property management company, I know to do so I would need to work under a broker or be a broker myself. I am just about done studying for my Sales Associate Exam and will not be eligible for my broker's exam for another two years.

I know one work around is to not have payments based on commission. Does this mean I could charge flat fees per residence, per tenant found, etc.? If so, can that flat fee be more than $50? 

All insight is appreciated. Also if you know where I could get more info that would also be great!!

Thank you,

Michelle Elsaid

I had a similar situation in an apartment in Orlando. Unfortunately there was very little we could do. We made several complaints and brought up some housing laws to the office. They began to get nervous and offered us a move out without cleaning (or fees). However, this was near the end of the lease. Put together a letter in writing about the distress it is causing, etc. Eventually it can come down to safe and habitable living conditions.

Another problem you might run into is that the repairs have to be tested by another rain storm. My apartment thought they had fixed the problem but had to try a few different things after each storm. I hope it gets better!

@Carlos Guzman Agreed. I am in contract for one in very good condition right now however my appraisal came in low. So far seller is unwilling to renegotiate but still working on it. Before this one, I had several offers beat with cash. Multi Family seems to create a bumpy road, especially for those hoping to use FHA - good luck to you!! I have been searching for about 9 months now.

Orlando does not have many multi families in good areas. Most of them are old and/or in higher crime areas. A lot of investors here looking for quality multi-families. 

I am looking for multi family with garage to do an owner-occupied FHA. Send me anything you think will qualify.

 @Fabian G. I am also looking for a multi family in orlando. It is a tough search, I finally found the perfect multi to house hack and got a low appraisal. It has been a bumpy road!!!

There is a REI meetup at Panera Bread near Lake Eola if you are interested and we can talk more. It starts at 630PM this Tuesday. This will be my first time at the meetup but several others from BP will be joining so there should be a pretty good turnout!

@Carlos Guzman I sent you the information! I will see you there!