All Forum Posts by: Sam Valme

Hey @Samantha Klein, haven't had this become a large enough issue to warrant the cost as a part of turnover. Just our experience. Now saving on the water bill may be a factor, but really only if the landlord pays for it.

Good luck!

I think its been said enough times but i'll say it again in another way. Losing 1 more month of rent is ccheaper than going through 12 months of lost rent from an eviction process. 

This industry can come off very much a "guilty until proven innocent" scene. Solely due to the fact you are giving a group of people legal interest in a property you manage. If one of those people has already let a situation get so bad they'd allow an eviction. You don't want to even have that potential stress in your books.

Good Luck!

Hey @Amanda Shreve, Your last 2 sentences where exactly where I was headed. In a situation like that. There are could be a few parties at fault for not performing their own due diligence in the transition. $550 out of pocket as an isolated incident is a small price to pay to tighten up the back end processes. Also, if the tenant wanted to go the lawyer route. Just getting an attorney to analyze the situation will cost more in time than its worth. 

Good luck!

Hey @Derek Gendig, did Appfolio fulfill this need or are you still looking? I don't know if you want to introduce an entirely new system but i'm fairly certain Podio can handle everything you just described. 

Hey @Derek Gendig, Our company is evaluating Buildium and Appfolio currently for our tenant management. We use Podio for back end coordination / taking pre-screened calls from Pat Live. Acuity scheduling for showing and maintenance appointments. Slack is something we're also thinking of piloting. 

There is an incredible amount of technology available nowadays. Sometimes its overwhelming haha. 

@Nick Baldo I'm pretty sure I just saw some of your youtube videos on Podio. Its good stuff you should keep going!

Also, I also use podio for our property management company as well as other personal endeavors. :) fantastic application!

Imho I think @Jacob Pereira follows the closest guidance I provide to my clients. Everything is relative. $100 to me 10 years ago meant a LOT more then it does today. But to someone else $100 could be food for their family for a week today. With that you have to set your standards personally as compared to your own goals. What is your personal freedom number? Is it $5000/month in cashflow? Then at $100 a door you need 50 rentals. At $500 a door you need 10.

With that knowledge $100/door might be possible in my city but if know I can go 2 hours south and get $500/door. That could potentially be 1/5 of the time (generally speaking) for me to hit financial independence. From there I have a decision to make. Do I stay local and grind to 50 doors or do I set up my schedule to make the commute to and from my investing market possible. 

My point is you have to set goals. Run the numbers to see where you want to be. Then analyze the market to see where will get you there the fastest. The dollar amount per door is irrelevant compared to your overall why for being in the business. If its financial independence then just replace the numbers above with your own ;) . 

Good Luck!

Hey @Account Closed! Looks like you've had a lot of success thus far which is great! In regard to lower quality tenants. I say this as a complete outsider looking in but a lower priced property shouldn't directly correlate to a low quality tenant. Prior to looking out of state again. Work with a PM who specializes in assisting with the purchase AND management of the property. They should have a deep understanding of the caliber of renters certain areas attract. As well as ensure their fees will also allow for positive cashflow. 

In addition, review their Application Process & Qualification Standards up front. This will give you some insight as to what they are willing to accept. 

Good Luck!

Hello @Andrew Frazier! Glad to always connect with other PM's around the world! As @Tim Davis said definitely check out the NARPM convention. Especially since its in your backyard! I was in Oahu last year and am looking forward to making the trip again! 

Also, Pro tip for BP - Keyword Alerts. Get those set up. Some for your area, others for your speciality. They are life savers :) 

Good Luck!

Hello @Antoine V. Just to be clear. The entire home will be worth 5k after repairs?