All Forum Posts by: Tom Kelly

@Kyle Buck

Welcome! I love Charleston and there is

a great seafood restaurant. I believe that 

it is called "Hanks"!

Neema,

I am not sure if you are sending out single letters or a bunch at a time.

You can have your mail service do a "mail update". This checks before you 

mail the letter to verify that the person who you want to reach is still at that 

address. I believe that the Post Office will forward for free any first class

envelope to the new address for one year. After that you are on your own.

Hope this helps.

Tom

Steve,

Thanks for the quick response! I just obtained the domain name and am working on the website as well as the direct mail piece. Great advice!

Tom

My partner and I are newly retired executives starting a niche property management company. I have an experienced broker and a realtor with a background in property management. Between my partner and I, we have managed our own properties and I managed a 4 unit condo complex. Would our team provide you with enough confidence to manage your properties? Do we have enough experience to make our potential clients comfortable?

Thanks in advance for any and all comments!

Roy, that is a great idea!

Tom

Sorry, I hit enter by mistake. I am starting a property management company and was wondering if there is a spreadsheet for typical income items as well as expense items. I realize that there are a bunch of fees and services and some one time and annual expenses, and I am trying to forecast the year's goal. Any ideas?

Thanks in advance, Tom

H

Thank you all very much..Glad I asked!!

My CPA is coming on Saturday to discuss this but I like and value different opinions in particular from other experienced professionals.

I have set up a self directed real estate IRA and will fund it with $100,000. I would like to buy two town homes in a hot area of Tampa. The $100,000 would finance the down payments and closing costs. I am hoping to see a tax benefit.

I would set this up in an LLC with my son as a member. I would rent out both units and put my son in one. He would obviously pay rent. My thought is that I would "pay" him to manage the other property.

If I financed on 15 year mortgages, I would have a significant rental stream in year 16 plus appreciation..

Any thoughts?

Thank you all... I think I will just buy a one bedroom condo for cash and rent it myself. Seems much easier and safer..  Tom