All Forum Posts by: Steffany Kluttz

I'm looking for turn key property management on a single family house.  What do you look for in a property management group and what terms do you want in you contract?  Some have flat rates, some have percentages, eviction coverage, etc.  What have you found as must haves and questions you wish you had asked, etc.?

Is there a good course, book, or other way to learn underwriting multifamily deals?

Thank you everyone for the great advice!  I truly appreciate your help!  An update . . . I'm working directly with Steve Davis, got my CAM certification, and am reading the above books.

With the help of a consultant, I'm working towards my first syndication deal.  I have a family member that is leery of it being to good to be true.  Of those of you that have syndicated multiple deals, would you share your cut from the deal on average for me to show him that this is standard stuff?  (I know each deal is different making this questions challenging.)  I'm looking at 80 to 100 units.

My goal is owning multi family properties. I'm in the education phase of this journey with the plan to invest in the spring.  I'd like to be pointed in the right direction to learn more whether it is books, people, courses, etc.  Here is a little about where I'm starting:

• I currently run a 93 unit assisted living and have been very successful in turning it around and making the leader boards in the company for $.

• I learned a lot about construction and rehab.  My ex-husband was a custom home builder.

• I have an MBA

• I have $130,000 to play with.

• I've read 4 books on real estate investing and property management in the last 2 weeks.

None of this is to say I have any clue as to what I'm doing in real estate investing.  I just want to give a little background in hopes of getting some guidance.

Questions:

• I'm not sure how much to hold back for Capital improvement. I know the need will vary based on the property, but some general ideas would be great.

• I'd like to jump straight into a $1.5 million apartment, but I'm thinking of doing a fourplex or a property of tiny homes and RVs.  Any recommendations?

• What are your favorite real estate books, courses or people to learn from?

• Any Houston area groups worth joining?

• I think I can handle the due diligence, but I'm not sure I have the time given how fast things are selling.  Is there anyone you trust to handle that part?

Thanks in advance!