All Forum Posts by: Shawn Ackerman

@Nelson Del Castillo are you clear on the numbers?  If not PM me and I can go into more detail.

@Frank Dimino @Shannon Sadik @Martin Grizzanti and @Phil Earley I thank you all for your advice and encouragement.  I will take your recommendations and make contact over the weekend.  Everyone have a blessed day.

@Michael G. THIS is what I'm talking about.  Cold Hard Facts!!!!!  Thank you for sharing your experiences.  Seems like managing the manager(even Micro Managing) is in order.  I'm 5 hours away so I'd prefer to fly there instead of driving.  I was thinking of setting up a network with other out of towners and we take turns going out there and check on each others properties at a set time either monthly quarterly or semi-annually. This will get some unbiased eyes on the ground.  Sorry to hear about the fraudulence they've put you through man.  But I like your rebound approach of restructuring your dealings.  Thanks for sharing.  If your willing to share who your currently using and don't want to broadcast PM me.

Thanks again.

@Ben 

@Account Closed No worries....I see that your an international investor.  Where'd you touchdown in Europe Ha? HA!!! Just kidding, Yea send me what you have I'd appreciate it.

Cash flow...After all expenses i.e. insurance, taxes, PM, sewer(water), Cap Ex and regular maintenance are deducted.  Oh and can't forget the mortgage.

@Account Closed Ideally I would like to manage in my backyard but the home prices here on Long Island are astronomical.  In Rochester i think i can squeeze $115 - $140 per door with a mortgage but was shocked to hear about the property management issues.  Are you looking to get into property management yourself?  I mean for other investors?  If you can PM me some recommendations I'd appreciate it.

I got it!! So currently how do you have things set up?  My clientele will be month/month cash/lease.  How do you transact with the PM's?  Do you have the PM collecting the rent or are the tenants doing  online bill pay or paying you directly other ways?  What kind of reserve do they require?  is your current PM using quick books?  

@Peter GrossoI just realized your from Farmingville not Farmingdale NY Ha!....I still appreciate your input.

Farmingdale!!!! Neighbors!!  Peter tell me about it.  Now are we talking 4 in the last 10-15 years? or in the last year? what's the biggest challenge besides the strong rental market creating relaxed PM? give me an idea of the area code(s) your in.  I was looking at 14611, 09,08.

Really!! That's great to hear.  PM me who your working with.  Did you seek references from other landlords? 

Today I have spoken to an attorney(investor) , Realtor (investor) and a few other non-investor realtors who all said the same thing.  THE PROPERTY IN ROCHESTER NY SUCKS!!!  I'm interested in hearing the experience of current investors from the area or strategies to deal with poor property management.

HELP!!!!!!!!!!!!!11

Shawn

Investor (New York City)