All Forum Posts by: Shari P.

@Norb Schneider

yes- do yourself a favor (and peace of mind) and get a good one bc you will have a hard time finding a good group to work on them from out of state. As you acquire more properties, you can negotiate for lower price. It costs me 8% after I bought more properties for the same company to manage. I’ll get a lower rate as I get more houses, probably cap at 7% though.

Referrals are the way to get a decent one.

@Jimmy Lieu seller financing ( the easiest) or portfolio lender. They are out there!

@Elijah White

Been there and done that.

1.) Get an inspection. If pipes are slow, dripping or backing up, I find a plumber and replace the cast iron with PEX or PVC and have new holes drilled through the bottom of the cabinets or floor (rather than tear the walls up) for kitchen sinks and bathrooms, and have the on/off water shut off valves changed if corroded. This 3k fix will save me many years of “nickel and diming” my profits. Negotiate the price of the house with this in mind. Best of luck.

@Victoria Torres I spoke with them and they NEVER asked for my credit card number or even discussed it. I wouldn’t even accept the call back. I have not used them but was considering it. I would call them if you want the information. Never know who is getting your information.

I have a guy that has brought me several great deals recently and I am wondering how much should I give him for the referral. He is strong lead generator and I don’t want to insult him or lose my connection. I was thinking 1.5% of the selling price of a great deal. Any suggestions?

Yes

@Mark Baldwin

I think the walls can be fixed, but my thoughts are that there’s an underline issue, such as the high water table that is destroying the foundation. 12k doesn’t sound like much, but how much to dig out around each house to put French drains or sump pumps and where the water goes. 12k can turn into 60k very quickly. I personally think it would be too much initial

lost rental income, lost

time,

money. I personally wouldn’t mess with it. If mold is in those properties, there is a whole lot more cash out.

@Simon Obas

Honestly, I would stick to the guidelines that are set out. I have done this and it did not turn out well at all. The tenants sublet to some shady ppl to help pay her rent and they stole all of the appliances and I never got more than the deposit and 1st months rent.

@Adah None