All Forum Posts by: Saurabh Kukreja

I have read on this forum that selecting a good property manager is as crucial as buying the property. I would like to ask folks on how do you vet a property manager. In my mind I have the following things that I want to se in my PM, Few of them are:

1- Should be communicative. ( If I reply , I expect reply atleast in 4 - 5 hours )

2 - Should be transparent - I need to know details of who is living in my property , who applies as tenant, what kind of work PM did if tenants complain ?

3- Mantainence ( My current PM is charging money every month for some stuff or other and I dont know if tenants actually complained about it or not ) - I should be able to see what my tenants complain about, I should be able to see before/ after work if any . I should be notified if there is some repairs needed in my property. 

What else should I lookout for in my PM?

Looking for references for PM in Memphis area.

Thank you for sharing your thoughts @Chris Seveney .

Just to clarify your vote would be against Condos for investments as well for primary residence ( rental in future ) even if done in cities like Sharon and Hopkinton.

Example: I was looking at this MLS ( Still Analyzing ):

This is a beautiful society with swimming and tennis court etc and could easily rent for 2500 in the current market.

https://www.redfin.com/MA/Shar...

Could Single-family worth say around 500K be a better deal for rental than this 300k condo?

On the same note: which one would you vote for 300K Condo in Sharon Vs 300K Single-Family in Attleboro / Brockton etc areas?

I am renting in Norwood and planning to get started in RE Investing. I have a couple of options but can't decide which strategy I should follow to create wealth. So looking for advice from more experienced folks.

I have a 2-Year-old and I would like her to go to the best schools and get raised in a good neighborhood. I would not feel comfortable househacking in a single home/townhome if it does not have a separate entrance for the tenant, so the house hacking option is very limited.

Here are my options that I think can work out, but looking for advice:

1) Get a small Single Family / Condo / Townhome around 350K in a good neighborhood ( good schools)  for my own living and thereby saving rent and after 2 - 4 years use it for rental.

2) Is Condo Investment a good option in good neighborhoods ( Norwood, Canton, Sharon, Hopkinton, etc ) --> I can get a condo and use it for rental. But whatever is in the market now they are not cash-flowing properties. I would only look for appreciation here or my be If I can refinance after 3 - 4 years and get a lower interest rate, then it can make it cash flowing. Do condos/ townhomes appreciate in good neighborhoods?

 3) Get a smaller townhome/condo for myself and a multi-family in B-class neighborhoods in Mass itself so I can manage them on my own?

Any other Advice? What would you do in my situation?

Hello Folks, 

I like one of the houses in a good neighborhood in Mass. for my own living (first-time home buyer ). I saw that an Elementary school got closed due to low enrollment which is within a mile from the address.

What does that tell me about the property/area/neighborhood? Is it less youth over there? Is the population declining? 

I have a 1.5 year old and was hoping to be in some good neighborhood with good schools.

I am an OOS investor with my first property in Memphis. I have reduced the price but still have not gotten many applications.

In this 3rd month of the home still being vacant, PM suggested doing some rehab for the property to show better. 

Redfin / Zillow rent estimates are 1200 - 1450, My property for this week is listed below that at 1145.

PM suggests some light landscaping ( mulch and bushes ), Cabinet paint for Kitchen and Bathroom, and Changing countertop for the Kitchen and Bathroom. 

I am ok to spend money but I am not confident on approving this as I dont what "MY" property would look like after the changes. How do you deal in such situation with your PM. What can I do to get better hold of my PM and such rehabs in future also?

Hello Folks, I closed my first rental property in Mid April in Zip 38141and since then Have been trying to market the home for rent with a PM company but its June Now and no luck so faar.

My PM keeps asking me to lower down the price and now I am a point where I cant lower it down anymore. 

Any advice on how to handle this, please?

Should I try a new PM?

Should I furnish the home with appliances ( right now it does not have anything other than cooktop )

I have seen the video and it does not look too bad which PM also mentioned that home is rent ready!

Thank you

Hello @Joseph

I am looking at their inventory, and see they have pretty agressive numbers only 3% on mantainence, that makes me a little nervous. How are numbers that you saw on paper before making the deal and actual numbers? D you ofind them consistent?

@Zach Lemaster I would love to hear from you as I see great reviews about your team but getting nervoud when I see those numbers

@Jason Rhodewalt Appreciation wise on one side I am ok. But Neighbour issues mean a high vacancy rate and it would kill ROI in the long run?

In regards to appreciation, I am ok because on paper this property seems to be doing 1.3%. I am not sure if this is the case of “too good to be true” and still it was vacant for 2 months although the seller did not lower the price. Any thoughts.
these are some things going on in my mind. And this is going to be my first rental.

Is townhome worth a deal in 38118. its located by Winchester Road.

3 Bed 2 Bath - with HOA 75$ ( all exterior covered ).

Looking for PM in this area and also how is the tenant base at this locality?

I personally don't like carpet and this home has one, not sure If I should rehab this to another flooring ? or carpet is more common in this area?

Thank You @Jason Rhodewalt for sharing your numbers. I think I am trying to evaluate my numbers on a very conservative approach. This could be a little aggressive ( to me ) but will definitely see if this works for me.