All Forum Posts by: Tricia O'Brien

@ John Morgan

When you rent out one of your houses by the room how do you handle utilities? 

Are the tenants all single adults without children?

Thanks!

Is there a way to attend virtually? I own property in Muncie but live out of state!

Hello Amran Musaid! I feel your pain ! I have found that about 80% of property managers suck .If you want to self manage from another state it is definitely doable. I currently self-manage my rental homes in Indiana and California from where I live in Alaska. As others have said,  it is important to have at least one person who can be your local contact to take care of things that have to be done in person. It can be a trusted handyman . It doesn't absolutely have to be a realtor or property manager.  I recommend you purchase and read the book by Brandon Turner called "Managing Rental Properties". It will give you a great overview of the different aspects of property management . 

If you want to try to find a better property manager, you should consider joining a Facebook group or real estate investors group that is based in the local area of Michigan where your properties are located . Perhaps people in that group can recommend a property manager . You could try you can also contact Realtors by phone who mostly do sales and ask them to do a tenant placement service for you. Sometimes realtors in small communities will do that... especially if you tell them you might be interested in buying more properties in that same city or county.

Do a Facebook video tour or WhatsApp video tour of each of your properties. This will give you a better idea of how if looks than photos.  Also insist on before and after photos with any repairs before you pay for it.

I have found that the property managers who do a good job usually have no more than 65 to 70 units per realtor maximum. So ,for example , if there are two licensed Realtors but the company has 200 or 400 or 700 units that they manage, the service will usually be very poor... they can only stretch themselves so thin and the unlicensed people usually don't know very much and are poorly trained. Best of luck to you!

Are you comfortable with reducing the price at least 10% to try to get it sold? If not I would try to find a reputable property manager to at least do a tenant placement service or full service property Management starting December 1st.  It looks move in ready. Hopefully you can get it rented by January 15th if it's priced right. Make sure they do excellent tenant screening! Do a 6 month lease, not a 1 year lease if you want to try to sell it next summer. If you want to refinance in a few months then get a 1 year lease. Get the property manager to pick up any loose trash in the alley and bags of white trash bags before they take the photos to list it for rent !  Good luck!

Thanks for your reply about your experience @Jason V.

Did you consider listing it with a buyers agent before you listed it with listwithfreedom.com?  Were all the forms and disclosures basically the  same with listwithfreedom.com type company as with a sellers agent? 

Did the listing company have people you could talk to with any questions about the forms?

My house is in California and the realtors give you about 30 pages to fill out if you want to list with them, and  some of the forms  are very confusing! 

Hello! I have heard about a company called listwithfreedon.com that allows people who are not realtors (ie for sale by owner individuals) to list their properties for sale on the MLS. They charge, I believe, $300 to list a property for 6 months. Has anyone used this service? Were you able to easily communicate with buyers agents through the site? Did the company help you with giving you the proper disclosures (lead based paint, etc ) for your state? Did you sell? Any replies would be appreciated!

Hello!  I have a home in Modesto that I am updating / remodeling and am seeking a general contractor.  The main projects are:  redoing a tub/shower surround, some new flooring, some paint, minor stucco repair, a few other small projects.  No electrical work or roofing or structural work.  Any recommendations? Thanks! 

Hello!  I have a property in Modesto that needs some new flooring, paint, shower work, minor stucco repair, a few other small projects. Can anyone recommend a good contractor who covers Modesto? Thanks

Since her credit is the sticking point, you could run her credit a second time with a different vendor and see what comes up.  For example, if you used a credit check on a PM software program like Buildium, your second check could be with TransUnion Smartmove. It might pick up things the first credit score missed to explain the score below 500