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All Forum Posts by: Alan Brown

Alan Brown has started 17 posts and replied 194 times.

Post: Local Milwaukee Handyman

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

yes, @Marcus Auerbach!  What he said.  so sad, but every time i've found someone fantastic and/or very reasonably priced and I give out their name to reward them, I've regretted it... they often get too busy AND the prices go up... 

I would just add, that it can be a real 'trial and error' thing, with painful training!  so be prepared for some frustration.  whenever trying someone new, try to find a reason to 'happen' to be on site while they're working there.  Try not to micromanage them, but just make sure they're not messing anything up:  even if you don't have much experience in property repairs and maintenance, you can usually tell when someone is a bit of a hack, and with the way the labor market is today, there are a ****ton of hacks out there.  So think of it as a learning experience, and you're playing the long game.  

So refrain from paying for anything more than materials up front;  I even tend to have them letme know quantities of what they need, and pay for it myself and get it delivered to the site, so you're not giving them money that might just walk away never to be seen again.  At least until I trust them.

Everyone, even (and especially) the really good ones can become prima donnas in this market and leave a mess behind them;  absolutely have that conversation at the beginning, that they need to shut down 15-30 min early for cleaning up, ON THEIR TIME, or as part of the bid... EVERY DAY.  Especially if it's an occupied property:  tenants can get very grumpy if messes are left behind, and rightfully so.  Best to keep your tenant happy, but make sure YOU and your tenants are not the ones who ends up having to clean up after them, unless it's super important to save money for you, and you're willing to take it on.

Tradespeople are often not set up to demo things, and they don't feel like they should have to;  they charge their normal rate like $160 an hour when it would save so much money and be quicker for you to have a laborer or yourself there to make the contractor's job easier.    So it's important that you have someone much less expensive than the plumber tearing out sheetrock to chase down broken pipes.  The plumber, in turn, also feels respected and tends to love the job, AND YOU, and is quick to respond to your call next time.  And I try to be there to write them a check THAT DAY (after everything is well done and fully cleaned up), and they will love you for that too.

Anyway sorry for pontificating, you may already know this stuff;  just thought i'd throw my 7 cents in there! (inflation)

Post: Residential Assisted Living

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

Looking for any information re:  RAL's....  Working on a business plan... your ideas or publications you know of to read up?

thanks

Post: What is the best way for me to start in real estate investing?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

Whoa, yah what @Nick Elder along with many others said seems right on to me:  you got to house hack, and for me,preferably if your starting out, if you can get ahold of a 4 plex owner occupied, low income/low downpayment loan and house hackit!  But the best bit: live/hack where you live/know but MOSTLY: take a year and find the property manager asap;  that has always been my weak link.  I've been investing in great cash flow areas, often far from where I live, but have had to work so hard because of lousy pm's, and eventually have to sell and move to another market.  I no longer look anywhere until I've found the best pm possible.  And have even thought I had a great pm only to be disgusted by incompetence/greed etc etc etc.  I know they are out there, the good ones, because I had one once, and I was one once,but man you got to look hard.   good luck!

Post: Meet up in Pittsfield Ma

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

I'd love to meet up again, but I never seem to be able to catch the zoom ones.... any good places we could meet in person?  

Post: Any fellow investors playing in the Pittsfield, MA market?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

oh sorry, forgot the @Thomas J Mele and @Amy Turnbull!

Post: Any fellow investors playing in the Pittsfield, MA market?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

It's a seriously crazy week but I'm always up for meeting co conspirators!  do you know what day you might be up?  They're in P'field right?  Not springfield..?

Friday might be best for me.  Did you send me any details, like addresses?  I can be a bit of a luddite, and sometimes don't see stuff that comes to me.  

Reason I ask is, the price sounds good, but I just bought a bunch of stuff and am stabilizing them, not sure how much time I have to do a lot of fix up.  

thanks!  

alan

Post: Any fellow investors playing in the Pittsfield, MA market?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

Hey @Thomas J Mele,  maybe PM me with more details... 

and @Amy Turnbull, we have a small but great group of folks at every level that try to meet up once a month.  Of course it's all been by zoom for COVID, but at some point I'm sure we'll meet in person again!  You should join us.. the more the merrier.

Post: Any fellow investors playing in the Pittsfield, MA market?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

Hi, @Thomas J Mele, I'm working in that area;  what's going on?

Post: Investing in Multifamily in NH?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

Thanks @Amanda Armsby, if I can figure out how to do a colleague request, maybe you could send me that PM'S name?

Also, thanks @Shane Moynihan for that contact.  Will look into it

Post: Investing in Multifamily in NH?

Alan BrownPosted
  • Rental Property Investor
  • NY MA CT VT MT, MO
  • Posts 200
  • Votes 116

@Amanda Armsby, have you found a spectacular property manager in Bennington?  Or will you self manage them? 

I've seen some nice looking deals there, but I've sworn off self managing and have promised myself I won't buy anywhere that there isn't a manager that I feel pretty great about, and then another one that's almost as good to take over when the best one implodes on me, like I had happen in Pfieldmass!  All good now, but it was nervewracking for while!

I haven't started looking for the PM yet, but referrals are the best!  Let me know if you see one