All Forum Posts by: Samuel Eddinger

I own a property management company and use Appfolio.  There is a 200 unit minimum so you are going to pay up for.  It is a good software but has a steep learning curve.

I do not know anything about DoorLoop.

As a PM company owner, the only two softwares that I would consider are Appfolio and RentVine.  If you haven't looked into RentVine, check them out.

I thought I posted here already.  Maybe my post was removed for some reason.

@Gabriel A Camacho - I'd be happy to connect.  DM me if interested.

@Isadore Nelson - Wholesaling is the only way that I've found to find solid deals right now.  With that said, CT is getting very competitive with the number and quality of wholesalers right now.  I try to make connections with all of these wholesalers so that I am one of the first people that they bring a deal to.

I'd be happy to talk about this with you if interested.  DM me if you want.

@Nupur Daruka - trying to put stated funded tenants into an HOA property is frequently a recipe for disaster. Our state does not allow you to discriminate but that doesn't mean that the HOA won't make your life a living hell.

My advice is to screen, screen, screen when you have a vacancy.  If you notice any potential warts, run far away as fast as you can.  It is better to have more vacancy up front and put in a great tenant than to settle for a tenant that has a voucher (that you would say no to if they did not have a voucher).  

If interested in talking more, DM me.  I own a PM company so I've heard tons of stories and have developed good strategies on how to deal with it. 

 I was at the clash of the meetups yesterday.  It's too bad we didn't connect.

Hey @Jose Quinones.  I recommend going to meetups.  We have a great group that regularly attends CTREIA, or other biggerpockets meetups from @Brandon Rush, @Stephanie Cabral, @Devin Peterson, @Ryan Luby.  

Your networth is your network!

@William Collins - my perspective is always that you are always either cash or opportunity limited.  If the opportunities are limited and cash is plentiful, pay down debt, increase rents and make everything operate better.  If the cash is limited and opportunities are plentiful, re-leverage, get hard money debt, partner with someone like me, etc.

I would say to not force it.  Right now, I don't see that many true opportunities in the market.  If you find something, go hard money and then spend the next few months re-leveraging the existing debt.

You can have your cake and eat it too, just be patient my friend.

@Edward Schenkel can help.  He is a lawyer in CT.

 I agree 100% with the other experienced management company owners.  My dad owned a D class property and a lot in B and C class property.  That property had his tenant shot and killed on the property, and copper cut out multiple times every turnover.  He is a stubborn man and has only sold three properties in his life (one to me, one to a friend of a family, and that property).  Being so naive that managing A through D class is all the same shows the inexperience.  

@Ali L. - if you are not too proud, you will call up @Drew Sygit with Logical and ask him to manage for you.  I have not seen a better management company in the area.

@Simeon Rivas - You have two options.

Option 1 is to wait for the forwarding address.  This is allowed in CT.

Landlords must return security deposits with interest or give tenants written notice of damages being claimed within twenty-one (21) days of when tenants move. The only exception is if a tenant fails to provide a written forwarding address: landlords then need not return security deposits or provide a notice of damages until fifteen (15) days after receipt of a forwarding address in writing.

Option 2 is to just send it to the last known address and for to ask the post office to please forward it to the correct address.

If you ultimately cannot mail the payment or they do not cash the check, you will need to eventually send the money to unclaimed property:

"Unclaimed property is held by the Treasurer until the rightful owner comes forward to claim it. Property is considered unclaimed if there has been no contact or activity with the rightful owner for a set period of time, usually 3 to 5 years."