All Forum Posts by: Ram Srinivasan

Hi Yvette, i suggest looking at bigger pocket investors in the Miami area. Take a look at their profile. See what they have done. See their goals. Do they line up?

If so go for coffee meetings. Get to know them better. Take your time finding a partner.  Partner someone you have a good vibe with :)

@Eric Everstine  -Sorry to hear about these troubles

I do have a couple of questions for you, before I get to answering your questions

1) How did you find this property manager (I hope you used referrals and interviewed them extensively?)

2) If it was 10% of the rent, and you did not actually collect any rental income, I am not exactly sure how they can charge you for this.

3) On Termination, did you have a frank conversation with them with respect to their performance and the fact that you would not be paying the termination fee?

On MOST contracts, there are clauses for negligence in which you can terminate the agreement immediately. In these cases, you should not be expected to pay any termination fees.

In my opinion, I would NOT pay them. Challenge them to prove to you why they feel like they deserve to be paid. Also let them know that you are considering telling the world about your experience with the PM company. If they care about their reputation, they should be able to let it go..

Tabatha, did you know that if you force a bank to Call the loan due, they cannot charge you a prepayment penalty on the mortgage?

Yes, I wouldn't recommend doing this as a novice investor, but a subject to could be used for this technique

Hi, its certainly a quiet bunch - any folks in Calgary & area in here? Anyone interested having a meet up - it would be nice to network.

Ram

Along with the comments in this forum, I do believe that if you are dealing with FSBO and are marketing to this segment, having the ability to get comps would be beneficial.

I would def check the property tax value, and also do a quick search of any existing properties for sale - I will then see if there is a big discrepancy between the asking price and the property tax value. This would be give is a decent rule of thumb to estimate a value of a FSBO lead.

Ofcourse, going to a realtor helps, - perhaps you are not using the realtor for that specific deal but you find other ways to add value, i.e. give him referrals etc. 

You do have to add value to other people......

Justin,

I am surprised you do not want to get down and dirty - It seems to me that the skills you are learning, even though it is not what you want to do, are Class A skills. Marketing & Sales is one of the bed rock's of Real Estate.

What construction experience do you have? have you flipped a single family home? Have you offered your time and energy to a house flipper to get experience in the technical details of this area?

Ram

Hello Medvin - Business cards -

I say the word "Real Estate Entreprenuer" because I believe that is really what we are.

Keep the business card simple. Ensure it is in colour and printed on both sides. People by default flip a business card over out of habit, have a tag line in there that resonates, and have contact info readily available. Don't design your business card yourself - start with your company logo and go to elance or any of the other websites out there and get it done.

Also, many lawyers would say that it costs them more money to review your "base" contract and make edits than actually going off their own tried and tested templates!

Chris,

JD Boyce  is someone I will recommend in a heartbeat. He has flipped a house previously and I believe you would like what you see.

He has done jobs for me and I have nothing but good things to day

He is on bigger pockets so I believe you should be able to reach out to him directly.

Good luck and reach out if you have any questions

Well Said Tom.

Hi Chris,

What kind of sub contractor are you looking for? Which trades do you need? I infer from your profile that you like to flip houses for a living - Are you looking for a contractor who can do this work?

(and Yes, I know someone who is spectacularly good at what they do)

Ram