All Forum Posts by: Joe Martella

take a look at the below thread where I posted everything I use.

Property Management Stoftware (biggerpockets.com)

Hello,

I just saw your post.  I recently posted on the systems that I use to manage my property.  There are many free options out there that aren't as cumbersome.  Please see the below thread and I hope this helps.

Property Management Stoftware (biggerpockets.com)

I was looking into for sober living for one of my properties.  If I remember correctly the non-profit would initiate a master lease with you and then work to sublet/place the individuals there.  you wouldn't be responsible to have a lease with each individual.  I recall being told that one of the people living there would be the treasurer and collect all the money for the rent and submit one payment, so you aren't chasing 7 individuals down.  

Either way, there are free and paid for management software out there.  In the thread below, I posted what I use for free.

Property Management Stoftware (biggerpockets.com)

What do you mean by new application for section 8?   I advertise my properties regularly, they fill out the same application.  They just have a voucher that is issued to them from Section 8.  Then section 8 will do their inspection. 

Take a look at the below post where I share the multiple free systems that are available for property management, rent collection and expense tracking. 

Good Spreadsheet for Tracking Rental Properties? (biggerpockets.com)

David Galarza- Galarza Insurance

Or Rocco Esposito with Esposito InsurancE

@Charles Sanchis it is the same and every other state.  The laws are just different.  Whether the state is a lien/deed or hybrid state.  You have to figure out where you want to concentrate your efforts.  IMO this type of investing isn't just something you can throw money at.  You need to pick the state/area you like and research the tax sale process before you put any money into it.  

While the laws don't really change and are state laws, each municipality has its own rules in NJ.  Other states are done at the County level.

I would start with a small lien and learn with that one before you go heavy into it.  

I can't specifically state he has done a 1031 exchange or motel business but I know that I trust him.  

AJC Accounting

Albert

732-825-7922

let him know I sent you

@Ned Carey @John Underwood are knowledgeable and help tons of people on here with their wealth of knowledge.   I invest in tax liens in NJ.  There are tax liens, tax deeds and hybrid states.  Like mentioned previously, pick the state you are in and learn what are the rules.  The books and gurus don't tell you all you need to know.   

Talk to the tax collectors.  You will find them to be pleasant and happy to help if you are respectful and don't make a nuisance of yourself with over abundant and repetitive questions.  

The end result is you got a fair price for someone else to do the job.  In my market it costs $150 each for the toilet to come off and be put back on.  So $300 for a plumber to take and replace a toilet.  

The cheaper option is Task Rabbit or Thumbtack to get the job done.  If you are using a PM sometimes they add 10% onto the cost or some PMs, while not ethical, will get the handyman at a cheaper rate and charge you the full market rate to do a job. 

Bottom line, when you have a repair at your house, expect it to be $200 - $250 minimum, unless you have the ability to do the repair yourself.