All Forum Posts by: Nadir M.

I recently bought my third rental property. The other two are currently managed by my PM. My wife and I want to attempt to manage this one by ourselves. Personally, I want to hand it off to my PM but she really wants to gain the experience of managing on her own. This is an out of state deal. Parents live in the state where this house is located. I have a reliable HVAC and plumber. The house is in good standing condition. I wanted to write a post to get some suggestions or advice before attempted to self manage. I’m using Zillow to advertise as well as running a background check. Using Cozi for collecting rent. My lease I bought from BP. What are some rookie mistakes that are made and how can I prevent them?

Thank you,

@Forrest Faulconer

Very true. Holding on to some cash is not a bad idea. The house I’m under contract on right now is a great property, in my opinion, in a desirable area. Would cash flow in a good or bad market. I don’t think it would be a gamble per say. Can’t go wrong in real estate. Everyone needs a place to live

@Adam Apalategui

I’m currently in the process of refinancing two investment properties, my own personal residence, and purchase of a new property with Citi Bank. I would say it’s been quite a ride. Been working with them since late May. Apparently the struggle seems across the board. They lock the rates until they close on these loans so it kept me patient. Not sure if I recommend Citi. I’m sticking with them because I get a discount on rates since my spouse works there.

Hello everyone,

It’s obvious that there is lots of talk about this election, low interest rate, and sooner than later, another possible 2008 repeat.

I’m currently UC in the Midwest. Market in this area has definitely maxed out. This brings up my market crash question which I feel like is a very common question these days. My gut feeling is that we are in a bubble that will pop in the very near future. What’s everyone’s game plan? Buying or holding and waiting for market to run its course? If market does crash, I feel like there will be a new higher low?? I have contingencies on this contract I’m in. Wanted to get everyone’s feeling on this.

Thank you

@Devin Redmond

This helped tremendously. I agree, to learn the most I can I would need to manage myself. I have my work cutout for me. Looking for my next property to try to self manage. In the mean time, I’ll just read up and try to learn as much as I can.

@Dave Spooner

This is great. Looks like I’m sold on cozy. From the sounds of it, there are also leases I can choose from on the site or is it that I can upload my own lease for tenants to sign through the site?

@Jibu Vergis

Autopay is a great tool and glad cozy offers it. 5-6 days isn’t too bad And I agree confirmation of payment is really all that I’d be looking for. Thank you.

@Sharlene

Innago seems very similar to cozy. Have you had experience with both?

@Jibu Vergis

Cozy.co is a great source. Went into great detail and it seems to be very helpful. Do you currently manage your own properties? Is cozy what you use? Doesn’t seem like there’s an app available.

Hello everyone

I’m currently UC on a property out of state and contemplating on managing it myself and finding my own tenants. I know this will be difficult at the start but need to start somewhere. Does anyone have any recommendations on tools or sites to run a background check? What about sites for obtaining leases. I know BP has leases for each state and I will look into this. I know you can run background checks and post rental properties for rent on Zillow for a small fee. Will Zillow be a decent option? Any info is greatly appreciated.

Thank you,