All Forum Posts by: Stephen Haynes

! Eviction rates

How many properties are they currently managing I personally don't like to be with a proeprty manager just starting out.

Rates shop three companies I never go with the cheapest you usually get what you pay for.

read the Management agreement to see if there are hidden cost and fees. or see if they are up front and have all fees on a one to two page sheet. which means they are straight forward and upfront. 

see if they have an online portal for owners. 

I work with a ton of contractors in Sacramento. I am a property manager here. What type of work needs to be done? 

since they do pay every month but late and they do pay the fee I would just ask them nicely to leave and offer cash for keys if they didn't want to move. I had a tenant like this before I moved the do date of the rent and they have not been late since that was four years ago they have been in the home almost six years and are one of my best tenants they keep it spotless and give me zero headaches. I talked with them to find out why they were late every month and it was that they got paid on the tenth and paid only once a month  so I moved the do date to the 11th with no grace period and it has been great since. 

It seems outrageous to me I would get a few more quotes or Sub out the work my self. My carpet guy will install carpet for $1.10 a square =$286 my painter would paint the room for $300 and the bedroom and closet doors another $600 ceiling fan $250 for a nice one. I could get all of that done for $1,436 so the floor heaters I don't know I would go to home depot find out what they are going for and see if they are worth $2,124 I think he is trying to take you to the cleaners. And I am not low-balling my contractors they are all licensed bonded and insured. The difference is I sub out all of my work and I usually save big I could have that room done in three days probably 8 hr days. not 50 man hours you are being had. by the way I am a former contractor.

Best of luck 

I would contact Gary Link I see you are from Folsom he is in Sacramento but I have never met a better real estate attorney. he is at teamlink.com   

@Melissa McGuire

There is an apartment expo in LA and in Oakland every year those are your clients. Look on loopnet and find the agents selling those bigger complex's or commercial over a Million and network with them. Their clients will be the same as yours. That is how I choose who to network with I find the people that will be working with the same types of clients as myself. I also like to shop my competition to see who and what I am competing against I have actually built some good relationships with my competion and occasionally we will ask each other for advice. 

Best Of Luck

Stephen 

You will have to call the local property managers all complex's are different and take different things to manage them they should be able to ball park it for you though. 

post in the morning.

you can purchase a fourplex in Sacramento for around 350K and rent each unit for $750-$850 bring the total rents $3000-$3400. these units are not in the nicest areas but they do cash flow the key is all in the screening of potential tenants which is always key but with these you cannot overlook anything or cut corners to put a warm body in. They also seem to rent relatively fast. I like Ashcroft Ave there is a pre-foreclosure there right now at 4556 Ashcroft Ave 95841. To invest in units like this you need to have some thick skin. each unit is approximately 800 sqft and so that helps keep turnover cost lower. 

Best Of luck 

Stephen Haynes 

If you want you can let her go month to month when the lease expires and wait to give her notice until it is a better time to find a tenant. I also agree with @Mindy Jensen on everything she has said. If you have to ask then you already know.