All Forum Posts by: Gary Sigafoos

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $167,000
Cash invested: $18,416

Obtained this property under seller financing and planning to re-fi the property by the end of 2020. I am looking to pull my cash back out and make this property my daughters college fund (i.e., re-fi the property under a 15 year mortgage). Thank you Brandon Turner for the idea.

Hello BP Members,

I am wanting to get a vacation rental in Charleston SC for my family. Does anyone have any contacts with Real Estate Agents or companies they have used to acquire vacation rental. Any recommendations are greatly appreciated. 

Thank you in advance

Matt

Thank you so much.

Looking for an accountant to do my returns (i.e., 1040 & 1065 returns) and tax planning in Charlotte, NC. Any suggestions would be greatly appreciated. 

Thanks

Hello All - I have a question regarding property management.

We just recently purchased a triplex and the agreement reads that the PM fee is "(b) A fee equal to TEN percent ( 10 %) of gross rental income received on all rental agreements starting in 2nd month, OR $65.00 per month, whichever is greater."

We got the payment today and realized the property manager charged us 65*3 Units versus 10% of gross rent. What is the industry standard. I read this agreement as the PM will be taking take 10% of the gross rent and not 65*3 units since 10% of our gross rent is greater than $65. . Did I interprete this wrong or PM is playing a smart one on me?

Thanks in advance for your input.

Hello  All - I have a question regarding property management.

We just recently purchased a triplex and the agreement reads that the PM fee is "(b) A fee equal to TEN percent ( 10 %) of gross rental income received on all rental agreements starting in 2nd month, OR $65.00 per month, whichever is greater."

We got the payment today and realized the property manager charged us 65*3 Units versus 10% of gross rent. What is the industry standard. I read this agreement as the PM will  be taking take 10% of the gross rent  and not 65*3 units since 10% of our gross rent is greater than $65. . Did I interprete this wrong or PM is playing a smart one on me?

Thanks in advance for your input.