All Forum Posts by: Account Closed

Whoo-hoo!!! Missed last time; won't this time!!! And at the beautiful Hilton San Diego Bayfront! Love this hotel; always stay there when I am in San Diego!

Look forward to making new friends and making some deals! Can't want to meet you all!!!

3 Votes

@Quaid Cde Baca Congratulations! Hoping to follow you real soon! My two cents is long-distance investing needs a property manager, especially for us newbies. There are legal issues, repairs, maintenance, tenant calls all hours. I don't think that is feasible from a distance. Self-managing also inhibits your ability to scale. Best of luck and hope we are investment neighbors real soon!

0 Votes

Bravo @Samuel McCart ! I hear you and I'm with you!!!! I made that same decision a few months ago and am on the hunt for my first -plex rental. I made some really good connections through BP, but also watching podcasts on YouTube and other social media. Find your local REI group to meet like-minded folks. We have a group on the Orlando area and I read a posting of one of the hosts and reached out to him here on BP. That led me to the group's Slack and on there an invite to a group meeting at one of the investor's investment property rehab. Made good connections there, found a realtor, other folks who do rentals (as I said), even a notary! Hope this encourages you to keep your fire and momentum. You will find your connections and your first deal. Just keep going. No one knows your story, your strategy, or your plan but you. Go get 'em! And congratulations on making the decision!

0 Votes

@Andrew Watson did you find a good property mgmt company in Columbus? I’m looking for one.

Originally posted by @Andrew Watson:

We buy and hold SFRs, primarily south of Atlanta. In '17 and '18 we spent a lot of time evaluating markets around the Atlanta metro. We were primarily looking for cash-flow because we don't like being dependent on appreciation. If you're a believer in the "percent rule" (whether it be 1% or 2%), Atlanta doesn't even register, while 1-2% is very achievable in some of the surrounding areas (to get our homes a little closer together we recently sold an SFR, fully renovated with new roof, and it met the 1% rule on the sale price).

In our analysis a couple of years ago, our "finalists" were Albany, Columbus, Macon and Covington. We decided to stay more to the east and focus along the I-75 corridor for a variety of reasons, one being the massive expansion at the Savannah port. We've been very happy with that decision, but I believe there is still plenty of opportunity in Columbus, with the right property and the right property manager. "Turnkey" makes me a little nervous - we renovate our properties with the intention of renting with minimal maintenance, but I'm not sure turnkey operators do the same. A poorly renovated property, or a disengaged property manager, will make for a very unpleasant experience.

I'd be happy to share more about our selected markets if you would like to connect offline.

0 Votes

Originally posted by @Chris Chong:

You tell the realtors that you will not sign any exclusive agreements, however you are fair, honest, ethical and 100% committed to ensuring they get their commission on any deals they bring you.

Makes sense @Chris Chong.

0 Votes

Hey everyone, I've been having conversations with realtors as I search for my first deal. Some have said, "I need you to sign a six month agreement for me to represent you before I start sending you properties" others have just started sending me properties to consider. Curious what relationship you have with your realtors to get a sense and set my own expectation. Can you have more than 1 realtor searching for deals in the same city or is that inappropriate? Please share your expertise and insights. Thank you!

0 Votes

Originally posted by @Maria S.:

If my tenant asks to pro-rate the rent, I collect the full first month + deposit and give the credit for the second month.

For example, let's say the rent is 600. You meet the tenant and they sign the lease on the 10th. You collect 1,200 and a signed lease at the same time. Next month, they pay 426 (credit of 174 for Jan 1 - Jan 9) and they pay the full amount thereafter.

@Maria S. I really like this approach. I will use it for my rentals where allowable. Thanks!

1 Vote

This is a really good point and question. Would love to hear any thoughts on this as well.

0 Votes

@Patrick Bavaro thanks Patrick; I have heard of them and trying to decide between apartments.com, RentRedi, or Tenant Cloud. I was trying to find a maintenance mgmt tool feature. Working on my first property and want to be ready!

1 Vote

All Forum Posts by: Account Closed

Account Closed has started 3 posts and replied 40 times.

Post: Closed on my first rental property!

Post: BPCON2022 Save the Date

Post: I bought my 1st duplex!... Now what?

Post: Enough is enough and I've had enough

Post: Columbus or Atlanta GA Turnkey Rental

Post: Realtor Relationship - What should it be for rentals?

Post: Realtor Relationship - What should it be for rentals?

Post: When to prorate the rent and the start of lease!

Post: Bank Recommendation when having an LLC in another state?

Post: What's your experience with remote investment?