All Forum Posts by: Nicole Flakes

@Steve Vaughan  This comment you made is EVERYTHING. 

"With spending and licensee limits in place, I'd say it's worth it if you are in the capital preservation phase vs needing to eat or further accumulate with your soon to be non-existent / drastically reduced CF."

What I have noticed wit many PMs is a very high tenant turnover, longer vacancies and very liberal with sending out a handyman. I am interviewing carefully. LOL

@Jim K. Hilarious comment! I know there is truth to your statement as well. lol

Thank you all for your thoughts!  I have been self- managing since 2005.  It is beginning to take more time than I desire as we grow.  My hope is the free up more of my time to devote to other tasks such as continued grown.  If in fact hiring a PM will accomplish this goal, then I have my answer!  Thanks again!

I am wondering how many units did any of you have before you got a property manager?  Do you feel that it was money well spent?  Has it allowed you to grow as an investor? Any thoughts are appreciated!

@Jaron Walling Yes, this is a 4plex with rents approximately at 850 per unit. I do agree that the higher the rents the less the cash flow for here in Houston, Tx. This would technically be lower cashflow for me BUT I am hoping that the fact that it is a 4plex vs. SFH will help me in the long run with scaling up. We shall see. I did not include vacancy or cap ex. I did not include sales costs and management fees as I am a realtor and do all of that myself. I DID include costs for repairs.Thank you so very much for your reply. Overall, I think the price is OK as a deal...not stellar. THANKS so very much for the reply!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Thank you for your insights! Honestly the numbers tell me that the property is overpriced but I was looking to negotiate that part to a more acceptable rate of return.  As far as accounting for vacancy...the info you gave is exactly what I was looking for! So thank you. I will take this info into account going forward. 

I am currently vetting a 4plex that is made up of 1 bedrooms. Historically speaking, I have found 1 bedroom units to be a bit more difficult to rent out. Has anyone else found this to be true?  Should I shy away from such small units?

congratulations.  I have little knowledge of mobile home parks but this sounds awesome.  Thx for sharing the success story!

Special thx to everyone  For their recommendations. I'm truly excited to get started on the next big thing. Love this community!