All Forum Posts by: Mike O'Connor

Thanks, @Andrew Bauer - we appreciate you tuning in!

I agree with a lot of the previous comments. I would definitely want to see a ledger showing that the rents are being paid on time as in this price point, that is likely not the case. I target this type of tenant with multifamily deals, but there are enough tenants paying on time to hedge against those that are late - with a SFR, you either get paid or you don't, so keep that in mind.

I would also strongly recommend an inspection to make sure that there are no issues that don't meet the eye. It would also make sense to run title to make sure there are no liens attached to the properties.

If all checks out, I say go for it... it will certainly come with headaches, and it may make sense to hire a management company that is familiar with this type of property.

Mike

@Rick Baggenstoss thanks so much! We very much value all of your great advice along the way. Let's get together for a lunch sometime soon.

@Jamaal Rogers thanks for tuning in!

Mike

I agree with the neighborhoods that @James Han and @Paul Smythe pointed out. You will be able to find a lot of houses in that price range outside of those areas, however. I know people always say to focus in on a "farm area" and go from there, but try casting a wide net at your price range then evaluate the neighborhood, rents, ease of managing (based on your location), crime, economy, etc.

Good luck!

Mike

@Jered Sturm thanks for tuning in, we appreciate it! Let us know when you are in Atlanta next and we can get together.

@Allen Thomas - thanks for the kind words! It's great to be able to represent Atlanta.

I agree with @Matt Wood it's about time @Azeez K. schedules another one of his great meet ups!

Thank you for listening to the show! So glad you enjoyed it!

Mike

Thanks @Damir Kamber, we appreciate it! We are glad that you enjoyed the show. Looking forward to connecting in the future.

Mike

I agree that Atlanta is a great place to be. The market is definitely tightening up, so finding good deals is becoming increasingly difficult, but there are still deals out there. As one area starts to dry up, new areas around the city start to become increasingly popular. Making sure you get there early enough is important.

@Todd Witt we are making progress. We are still holding off on cameras, but that is our next course of action. We have recently put up both "no trespassing" and "no illegal dumping" signs around the property and the dumpsters. We also offered up one month of discounted rent to any tenant who can identify who is causing the issue. We found out that some of the bigger items (couches, tvs, etc.) was actually due to someone in the neighborhood (not in our complex). We were able to ID the car and the tag and will pursue them further should they keep leaving their trash.

We also hired one of the tenants to do a quick pick up of the property 5 days a week. The amount we are paying is small, and it is controlling some of the smaller trash like candy wrappers.

Mike

Anh - look for a new property manager. Not only should they be handling this, but they also should not be getting paid if no rent is collected. Find a manager who will agree to a set % of rent each month for their fee. This way, if you collect $0, they get 0$.

Good luck.

Mike