All Forum Posts by: Ryan Moore

Thanks.  When you say estimate from the deal, do you mean that I just provide them with the numbers like purchase price?

Welcome @Eric Erickson .  Lots of opportunity in Tucson.  I will definitely be looking down there also when I'm ready for my next multi-family purchase.

Well this website is a good place to start networking and meeting different PM's.  I personally chose a PM that I saw on this site and had a good reputation.  Sure, I still spoke on the phone to him and asked some questions.  I wouldn't call it a trial run.... you hire someone and use them and if they don't perform to your liking, you find someone else.

@Jeff B.  Thanks

I try to quote someone and remove a bulk of the text but keep their name so that they are mentioned, but I'm constantly battling with their names deleting on me when I'm trying to delete another portion of the quote.  Any tips to not have to deal with this issue?

 I personally would never property manage my own property out of state.  I would vet a good local PM to do the work.  

Now that I've got some skin in the game and officially a RE investor, I would love to go to one of these.  My wife is a little into what I'm doing with RE, but I don't know if she's "go to a meeting on our anniversary night" into it :-)

@Ryan Talbot

Welcome Ryan, I'm also a UofA alum with a similar education background.  I graduated from UA with a Physiology degree before going the pharmacy route.  Welcome to BP, it's a great source of information.  I'm closing today on my first MF property after following the site, watching @Brandon Turner's webinars, books, podcast.  You are definitely a motivated individual, you'll do well in this world :-)  Reach out if you have any questions.

@Sean O'Gorman

They are not in there.  My lender claims there is not an option to put them into the closing document as of some regulation that passed in October.

When purchasing a rental property that is currently rented, what is the best way to make sure you get your pro-rated rents and deposits?  I thought it was something done in escrow but according to my lender, there was a regulation change back in October and that is no longer the case.  He said that those items are now interpreted as kick backs and that is not allowed on a loan.  

I'm closing on my first multifamily tomorrow and I'm waiting on the seller to send to me the rents, and for their PM to send my PM the deposits.  I just feel uneasy about having to rely on these people to send me items after the property has been transferred and closed.