All Forum Posts by: Tom Kaider

We run background checks for $12 though Buildium, which is partnered with TransUnion.  I guess it's cheaper for us because we pay for a huge software bundle.  If you want to come on with us, leverage our bundle, send me a message.  I want to make more investor friends, and back-office stuff can be done from anywhere.  We pay for a large Buildium package because we also manage associations.  So to add you is no big deal.  Send me a message.  

I tell our people all the time that the most important aspect is the numbers.  That is the beating heart of it all.  The software cannot identify key performance indicators.  That takes a human being's mind. In real estate, so much depends on the surrounding area.  For example, our software wouldn't know how to quantify the affect of a new complex being built down the street that may compete with our rental listings.  So, that's where a seasoned manager/investor comes in.  I've realized that is what I am, a Manager first, but also an investor as a close second, so our firm is now naturally tailored to help investors. 

Buildium is the tool to manage the day-to-day operations of rentals (or associations).  It is rent-collection, online work orders, etc.  But rentals are a different animal than real estate sales.  A realtor can quantify more than I can, based on comparable sales, etc.  In my world, if some gang moves into an area, that can plummet the rental rates, but it takes a seasoned mind to know how to even look for that.  City laws are another factor, like if the city adopts or enforces a strong Crime Free Housing program.  That is something that affects rentals, but there is no way to run a report for it.  

I have no problem plugging you into our software package and you can demo it.  I mean for free.  Like create one unit for you and you can mess with it.  It doesn't cost us anything because we pay for the software in blocks of 50 units.  

You may want to hire a property manager to at lease create a buffer between you and any drama like that.  Send me a message if you want to talk about it. 

We have done some management in Central NJ.  It depends on if you need construction oversight or just typical listings/tenant-showings, etc.  Please send me a message.  

Maybe we should legalize freedom.  Vote Libertarian.  

That software doesn't look like it is specifically for real estate investing.  There are a lot of programs out there tailored for the real estate investing world.  

We use Buildium software and we are very happy with it.  It has all that.  Their first package is $45/month for up to 20 units I think.  But, we manage over 1,000 units, so we have all the features unlocked.  If you want to come in with us, send me a message.  You can save $ by just using our package. 

It is common.  I am my condo Board President, and we are about 1/3 rented out.  So, some buyers get angry with us for that exact reason.  Well, the sellers do too.  Their position is that their pool of buyers is small.  The association's position is that the complex is 40 years old, and sorry, and it is what it is, and try to find a cash buyer.  

If you have any questions about rentals, management, and how that works with associations, please feel free to message me.

My buddy owns mobile homes in FL.  He wanted me to manage a similar situation.  I said that the only way I could would be to set up all tenants on Direct Debit.  Removing the paper checks aspect has helped my operations a lot.  Inspections are still important, but being shackled to chasing tangible paper checks is dumb.

If you have any questions about the management aspect, please feel free to contact me. 

My Property Management biz is in Palatine (west of Chicago), but I have had clients in Champaign.  If you want to use our software, I think to add 18 units to our block of 1,000 or whatever might cost my firm like an additional $5/month, I don't even know.  But I'd be happy to create you as a user in our system, and then you can try it out.  You can piggy back off our our having to buy packages of 50+ unit blocks. 

You're in Illinois, so for me it would be a win-win just to make another friend in IL.  Send me a message if you want me to set you up. We use Buildium.