All Forum Posts by: Troy Weygandt

I need a way to organize my flips. I have seen project management software and it looks like I could use in my business. Is there any specific program that you use? I'm looking for something with an app maybe? I'm new to this software space so I would only like to learn one system. Which one should it be?

-Troy

@Scott Nguyen It depends. Here in NJ, we have a month and a half security deposit. That would not be returned if the lease was broken early. And that would probably be enough. If the place was completely trashed, more legal action would be necessary. I know everyone has their horror stories about tenants. But in my experience, most renters are not that bad. After all, you don't write a review for the average hamburger or even the above average. But you will for the worst burger you ever had.

@Tim Lin I think that's a personal question. I prefer to listen to podcasts and read books. The first place I look to find books is my local library. If I can save $20 and still read the book, I'll do that. I also have a kindle and can "borrow" ebooks as well. If you are planning on reading a lot, I would suggest you make an investment in a kindle. If you have to buy a book, the kindle version is usually cheaper.

@Scott Nguyen Leases vary a lot by state. Your property manager or Realtor should be able to provide you with a lease for your state. With that said, as a Realtor in NJ, I always write my leases to best protect my client. Most of my leases are for 1 year. For the landlord, that gives you time to see how the tenants will act. Are they paying on time? Do they report problems quickly? Do they cause problems? If there are any problems during the first year, don't renew the lease. If there are no problems, then sign another 1 year lease. I'll also include anything that isn't standard in our leases. Things like who is responsible for landscaping and snow removal. Are pets allowed and specifically what pet. Not just a blanket statement of "dogs are allowed" but "30 pound dog".

@Nathan G. I think that is my best bet right now. I know I am lacking on training with property management software and that would be a good way to get experience with it. @Yinna Wang Yes, I have noticed that in my sales career as well. Landlords would ask for recommendations and I couldn't give any that weren't only managing 100 unit complexes.

@Sam Shueh I was thinking that. I know sales brokerages in my area are willing to hire pretty much anyone to be a sales agent. I guess I didn't think property management brokers thought the same way. Either way, I should probably start the conversation and build the relationship from there

Hi All, I really want to get started in property management. The concepts of property management are what drew me to real estate in the first place. I enjoy qualifying tenants and managing rentals, even if I don't own them. I live in New Jersey, and in this state you need to have a real estate license to be a property manager. I got my license and have been working as a Salesperson for the past few years. But my brokerage does not do property management. I guess my question is, how do I get started? Do I contact a property management company in the area? Do I approach a smaller, local broker and ask if I could work under his broker license as a property manager? Do I obtain my broker license and start my own? If there are any property managers that can carve out some time to talk, I would be very grateful. Even a quick phone call would mean a lot to me. Thanks, Troy

Hello BiggerPockets!

I think I may have done this before, but I'm back at it again!!

A few years ago I read everything on this site and I decided to get my sales license and start selling. I figured I would learn the ins and outs of real estate while making a little money. Well, now I'm full time in real estate sales and after some goal setting I have decided that it's time for me to jump into investing.

My current goal is to own an investment property in one year or less. Ideally it will be a duplex or better and I would owner occupy one unit with my wife and 2 sons. My 3 year goal is 10 or more units.

I am always open to meeting like minded people. And I am looking for a mentor to learn from. If you know anyone, feel free to reach out!!

Thank you!

Troy Weygandt 

I can help. 

Just to compare industry...

It takes 75 hours to become a Realtor in New Jersey.

It takes 1,200 hours to become a Barber in New Jersey.