All Forum Posts by: Jason Mak

@Jay H. and @Damon DiPlacido

Thanks for your feedback and I definitely agree with both of you.

I have also been experimenting with using offshore freelancers to compile email list for me which has been working quite well and have helped me target specific tenant types I am looking for.

Wanted to bump this thread and get some more feedback and dialogue going.  I'm still looking to see how other folks compensate their onsite management teams.  I thought I would share my arrangements first and hoping some other seasoned pros will share theirs.

• 178 Unit Apartment - Full time onsite manager and maintenance manager.  Each is paid a monthly salary and free rental unit.  
• 24 unit Apartment - Full time onsite manager who also does maintenance.  He is compensated with free rent.  This is a bit of a problem because he is always searching for "paying jobs"
• 88 unit Apartment - Full time onsite manager and maintenance manager. Each is paid a monthly salary and free rental unit.  One assistant manager who does a lot of admin work who gets free rent.  This is affordable since the rent value and base salaries are low for this property.
• 65 unit apartment - Full time onsite manager who is compensated free rent and salary.  Full time maintenance and housekeepers who are on salary. 
• Office Bldg - 3rd party management company
• One part time bookkeeper who manages books across all properties and is paid salary. 

Usually maintenance is done onsite but larger jobs such as unit painting and anything renovation/construction related is done by a 3rd party or paid separately on top of existing salaries.

So I'm curious how you all compensate your managers.  What works?  What doesn't?  

thanks guys

thanks @Chris Isaacson

Hi there,

Anyone have luck recruiting and signing corporate retail tenants without going through a broker?  I have a property for lease and have some retail brands in mind.  Was wondering if the best way was to contact them directly through an email or phone number I find on their website to ask for their "real estate" or "new store" contacts.  Or if this was a waste of time as most of these large retail chains always go through a broker?

thank you in advance

as someone who has invested in both, @Jonathan Orr & @Eric Schleif 

Other thing to consider in developing hotel vs multifamily is the municipalities.  Hotels are often attractive to city managers as they generate tourists, transit taxes, trickle down business etc.  So for that same plot of land, you may be able to achieve more density with a hotel

@Kendra Gedeon Hi Kendra - thank you for the nice words.  I did exchange to another deal.  It's not as big of a rehab as this deal was and its a more stable deal (i.e. not a fix and flip).  I am working through it so if I do update it, I'll make sure to update!

Hi Mike,

Don't know about changing up the color scheme from one unit to the other.  I usually prefer consistency and a pattern but that is just me.  

I use a company called Colorvision LLC that for $250 or so will give you three sets of renderings and color schemes. I've used them for all my properties and it's great as I can see what the building will look like before it gets painted. I don't work nor am I paid by the company. Just found them a very economical solution for your questions.

Jason

I don't see why not.  

Hello - I am a licensed broker in California (not an agent).   Do I need to license a corporation to sell real estate?  Or can I sell real estate using my own name?    

I don't do much transactions and wondering if since I am a broker, that I can broker the occasional deal without having my brokerage license associated with a corporation.

I would just purchase E&O insurance

thanks in advance