All Forum Posts by: Nathan Fisher

I've had decent success with showmojo. the ability to have tenants screen and schedule themselves is pretty helpful.

The self serve option is hit or miss, I wouldn't use it in a city with strong squatters rights.

A business credit card is a great idea, I made 14k in cash back last year. Definitely don't pay any personal expenses on a business card as an employee.

You should already be separating business and personal completely, otherwise the LLC is useless, and they can pierce the corporate veil.

If you haven't already, please join your Local Real Estate Investors Association. If you shop at home depot, they have a 2% rebate. I spend 2-300k a year at HD and get 2 checks of 2 and $3000 as a rebate. That was way more than my REIA fees.

Definitely do it.

lol, "unreliable and takes too long." Welcome to the world of contractors. 

Realistically, Pick 2 out of 3. Good, Fast, affordable. Nobody has all 3. 

Never touch cash. It can be stolen, faked, lost, etc. Always use something with a paper trail.

My latest misadventure in property management, a police car crashed into one of my buildings. Destroying the stone steps. 

Everyone is okay. However, does anyone know how i can get my investor compensated for this? Do we specifically call the police station? Or does insurance deal with all of it?

Any insight would be helpful.

No matter where you are doing an eviction, get an attorney.

From experience, find Property Managers that focus on what's most important to you.
Does communication matter most? Get one who communicates well.
Is cheap maintenance a priority? Find one with a great crew.

It's a difficult job balancing all the different priorities as a PM, so finding one who focuses on your priorities is a must.

Sent you a separate DM, but some thoughts. 
1. Take reviews for PMs with a grain of salt. The tenants only do reviews when they're being evicted, and owners generally don't do them. PM work is tough. You get pulled in every direction by competing interests.
2. For Euclid you must have a local PM : Per E.C.O. 1761.02(b)(2), if Owner/Corporation resides outside of Ohio, Owner/Corporation must provide alocal manager who resides in or has a place of business in Ohio. If your residence is cleveland heights, you should be fine.
3. If you have concerns  about being available for showings, you can hire a realtor to place  a qualified tenant. Or use a screening software like showmojo, and allow tenants to do self serve showings.

I've said it before, there's no such thing as a perfect property manager. Each one has things they do better than others, and areas they struggle in.

As you talk to PMs, focus on managers who focus on what's most important to you.
Do you need more insight or often need quick answers? Then get someone who focuses on communication.

If you're planning on doing BRRRR, make sure to get someone who does a lot of flips.

Make sure they are experts in your market segment too. if you want to do low income housing, then a great manager who focuses on B class properties isn't going to work.

Best of Luck