All Forum Posts by: Robert Lindsley

Hi there,

I have a 7-unit rental building in Norwich CT.  I've been doing the management myself for the past year and a half, and it's time to find a property manager to handle things.

Does anybody have recommendations for a property manager for the Norwich, CT area?  I'm looking for a full-service manager - somebody who can make sure the trash goes out, keeps the property clean, and can manage the tenants.

Thanks!
Robert.

Hi Ryan,

Thanks for that info. It’s very helpful. I will check my state regulations to determine how many I can sell without a license. 

Thanks!

Robert. 

Hi there,

I am in the process of purchasing a mobile home park.  There are a few park-owned homes that I want to sell to the residents while holding the note.

Has anybody done this?  If so, would you mind sharing your contract?  I want to make sure I don't miss anything.

Thanks!
Robert.

Hi there,

We recently bought a 24-unit building in Florida that rents to guests by the week.  As you can imagine, some guests are cleaner than others and as a result we sometimes have issues with bugs.

In the past the property manager has set off a fogger after each person leaves, but honestly that's something I'd like to try to avoid doing as much as possible. I'd prefer to not poison our guests if we can get away with it lol.

I think we have our options for bedding sorted out (bed and pillow covers) but are looking for options besides fogging for the room in general.

Does anybody have experience with this?  If so, it would be great to hear your thoughts!

Thanks!
Robert.

Thanks everybody. I went ahead and put an itemized statement together along with corresponding backup documents (legal bills, Home Depot receipts, etc). 

I’m having my lawyer do a quick review on everything and then sending it to my (former) tenant. 

Thanks!

Robert. 

Hi there,

I recently evicted a tenant from my building in CT and he moved out of the property last week. He’s now asking for his deposit back.

I have assembled a final statement outlining all the eviction/other costs, leaving him with about $200 of his $2200 deposit.

Do I need to provide proof of the costs of his eviction along with his final statement/check, or is that overkill?

Thanks!
Robert.

Hi Michael,

I also looked at a few properties in the Jacksonville area.  I didn't end up investing there but it does seem like there are deals to be had, and you're right it is a very hot area.

My biggest piece of advice is to make sure you understand which part of Jacksonville you're buying in. I found a terrific building, but once I started doing research I realized it was in a very high crime area (murders, drug dealers, etc). 5 blocks away from the building was fine, but the exact location of the building was a really bad area.

I would definitely visit any property you're thinking of purchasing, as well as talk to the local police about the area you're considering.

Good luck!

Robert.

Hi @Anthony Asciutto and @John Meirose,

I've had a surprising amount of interest in this topic. I haven't looked into all the solutions yet, but after speaking with my accountant he suggested I continue using QuickBooks but add classes, which is what he says most of his clients do. It doesn't give me all the functionality of regular property management software, but most of my renters pay by either check or cash.

I'm going to keep looking into software, but I'll most likely stick with QBO. I currently have two buildings with a total of 31 units.

Thanks!
Robert.

Thanks everybody for your thoughts and advice.  And @Brie Schmidt I would never ask you to get a divorce again rather than use QBO :)

I'm excited to check out these options and figure out which one works best for my needs.  

Hey there!

I went to one of Dave Lindahl’s events a few years ago.  They were asking for $1,500 for a binder of document templates and a CD of his motivational speeches.  Where I found interesting about the program was they were promising access to their private lender network, which I really needed at the time.  I don’t remember the exact terms of the private lending deal, but after the math is figured out I would get about $100 per door if I didn’t put any money down.

Once I signed up, I got a call from a point person and she started asking me “how committed am I financially to the Dave Lindahl program” and “how much would I be willing to spend for education and mentoring?”  I got such a sales pitch that made me so uncomfortable, I immediately canceled everything and got my $1,500 back.

I imagine this program is good for some people, but it wasn’t for me.  Now that I have a couple of MF buildings under my belt I’m confident when I get the right deal I can find my own private money on my terms.

Good luck!

Robert.