All Forum Posts by: Clay Smith

I use a company named NREIG. I prefer them because they are not as hard to deal with as local companies.

I can find rentals using your numbers. Let an agent send you a deal or get to know other investors. 

You want to learn more? I will be speaking at the KREIA event this month and training on the weekend. Our KREIA is a non profit and you can find the details in the events section of BP.

--NOTE: I am not buying or selling anything, I am not a guru, I am not an agent, just a volunteer.

I operate a PM Company in Louisville, KY. Looking to make connections and join or start a Mastermind Group. I am looking for other PM's in non-competing markets to collaborate with.

Here is a little about me, "...a former US Marine with a Bachelor Degree in Business Management and an MBA. In addition, Clay is a certified Project Management Professional (PMP), Six Sigma Green Belt, and LEAN process leader. An investor with 30 rentals and owner of a Louisville, KY based Property Management Company. He is also a board member of the Kentuckiana Real Estate Investors Association and a licensed and insured Builder with the State of Kentucky. He has worked in two Fortune 100 companies in mid-level management positions, proficient in data analytics, system design, and process improvement."

Might be easier to use a handyman. Plumbers are backup up, and pretty expensive in Louisville, KY at the moment. Most of them are turning away new customers. Also, some charge a "truck fee" and it can be expensive. I would try one of your handymen or find one on Angie's list/Facebook referral. Pretty sure BiggerPockets blocks us sharing referrals for paid services inside the forum.

Honestly, it is something you can reverse lookup on airbnb and see rates and availability. Compare your place to theirs. Then check their calendar and see if it is available to rent. 

I find that it is a great way to go all in on those guest bedrooms and offset the cost. 

As an owner of a Property Management company, a Contracting company, and rental owner I can weigh in here. 

It is illegal, doing so involves civil penalties. All PM's carry E&O insurance to protect you. There is a real risk of being sued, whether your wrong or right. Anything you do when speaking to a tenant is pretty much is illegal when you ar managing.

Legally, if you have some ownership or are a w2 employee you can do this. Also, they could write a lease to you, then have you sublease to others. This will get you around the laws.

To do it correctly, you need a license and a broker. This means you pay the broker a percentage. You also pay annual fees, attend continued education classes, etc.

I would caution you however, that you should instead offer a different approach. What they want is, someone to take calls, do the maintenance, and fill the vacancies. They want you to take on life's everyday interuptions.

Instead, offer to be the maintenance number. Offer to put lockboxes on doors for showings. It is usually everything involving travel owners dislike. Most can handle the phone calls.

Property Management dine tight is super hard. You wouldn't believe the number of processes, softeare, and checklists we use. There are so many variables and crafting responses to them all takes time and experience.

Best of luck in whatever you decide.

I never did give feedback on this post. Thanks to everyone. I used #2 as a base and #11 on top. http://www.earth-first.com/driveway-gravel.html. Then had a contractor with a bobcat dig a spot and compact the gravel. Project cost $700 to $900. Gravel was about 60% of the cost.

I will be hosting a webinar in which I share my desktop and show you how to evaluate a Single Family Property using Zillow. I have personally bought dozens of properties sight unseen using Zillow and pictures alone. The #1 questions I get asked is, how do I know what a property is worth? Join me while I show you step by step how I determine a properties value.

Sign up at MyPropertyManager.biz/training

I own properties in both states. I prefer Kentucky. I get better rent rates, the utility companies are easier to deal with, there isn't a landlord tax, sewer is paid by tenant, appreciation is better, 

Indiana does seem to still have "deals" to be found. 

Hello Amy! Welcome to the city. If you have 5 to 10 minutes I am available to talk tonight. Not sure what your looking for, but I am open to helping.