All Forum Posts by: Ryan Komagome

One more question since there are a lot of property managers in this thread. If there is a tenant in the property that I am buying does the sale essentially end his lease with the previous owner and I have no obligation to let him stay in the property? Do I have to give the tenant time to move out or should they be moved out before I take over. 

Thank you all for the advice. This tenant as I said has a good track record and she is on a fixed income so any increase in rent will have to come from the government portion of the rent. Do you have to guess what is the max that you can raise rent that the Sec 8 voucher will cover? 

Great, I'll interview a couple more property mgmt companies and ensure they can justify their fees and charges. Thank you again for all the advice. 

Thank you all for the thoughtful feedback. I really appreciate the information shared as I become a first time investor.

Hi All,

I started investing in a new market and got a referral to a property manager. Their agreement is 8% of rent and half a months rent fee to find a new tenant, but they also charge a percent of any maintenance that is done on the property. This doesn't seem standard to me but I'm new so could be wrong. Is this a typical fee that prop mgrs charge? Seems like this would give them incentive to not get things done cheaply.  

Thank you all in advance

Thank Will for that advice. How are rents determined every year by the government? I'm guessing if it's a hot market it lags behind the market rates. 

Hi All,

I'm new to the investment game and wanted your experts opinion. There is a property that I'm looking at that has very good calculated returns. The biggest question in doing the deal is there is currently a tenant who is under section 8 housing. The tenant has paid on time for the past 5 years and is a single adult. I know most folks recommend start fresh with your own tenant but if the tenant has a good record this would minimize vacancy. Any gotchas on dealing with section 8 tenants that I should know about?

Thanks in advance.

Hi All,

I'm new to the forums and want to get started with my first deal. As you can imagine I'm excited but also very nervous at the same time about screwing things up. Would you all recommend going with the highest ROI deal regardless of the deal size or to take a smaller ROI but also a smaller investment amount to get my feet wet and to learn the ropes without a lot of skin in the game? Also, I'm in CA so deals tend to be a bit more expensive so cheaper deals would be out of state and any words of caution about doing a first deal out of state.

Thanks in advance

Hello,

I've found some deals in Fresno, CA that look good and I want to do a little more due diligence. Anyone here really familiar with the market to bounce some numbers off of? Any parts of town to absolutely avoid?

Thanks in advance for helping a newbie