All Forum Posts by: Veronique Leroy

Hi all! We self-manage our properties. We will have 45 doors at the end of the summer and I'm wondering how to figure out the right time to hire our own maintenance guy instead. Like many other managers, we find it difficult to find contractors that can do the work right in a timely manner. But I don't want to jump on having someone on payroll unless it is really necessary. 

What do you recommend? What have you done?

Hi!

We currently own 26 doors and in the process of acquiring 17 more. We have been self-managing our units for the past 5 years. Maintenance is getting heavier and management in general is more time consuming with more units on board. 

I'd like to know what other investors, that self-manage (or used to), think about the number of doors at which makes more sense to hire the property management instead of self-managing your properties? 

Is this for sale now? Can you please send me more details on this property? Thank you!

Tyler, my personal experience is that multi family properties make more sense in the sense that you pay one mortgage and one insurance, these kind of properties can give you better cash flow. So you could have the same cash flow with less properties. I agree that finding a property that is turn-key or needs minimal attention for your first investment is a smart way to start. That way you can learn as you go without drowning in the first try. For me reading Brandon Turner's books before becoming an investor and a landlord was key to help me avoid many pitfalls in the beginning (shorter learning curve). As long as you do your inspections and run your numbers to make sure it works for your goals; you'll buy well. As long as you are careful with selecting your tenants and have your policies in place you shouldn't have big headaches there either. Happy to share more about my experience if you want :)

Tyler, my personal experience is that multi family properties make more sense in the sense that you pay one mortgage and one insurance, these kind of properties can give you better cash flow. So you could have the same cash flow with less properties. I agree that finding a property that is turn-key or needs minimal attention for your first investment is a smart way to start. That way you can learn as you go without drowning in the first try. For me reading Brandon Turner's books before becoming an investor and a landlord was key to help me avoid many pitfalls in the beginning (shorter learning curve). As long as you do your inspections and run your numbers to make sure it works for your goals; you'll buy well. As long as you are careful with selecting your tenants and have your policies in place you shouldn't have big headaches there either. Happy to share more about my experience if you want :)

Thank you Eric, I’ll check out your website and will be in touch.

Hi! I’m in search of multi family rehab properties in Western Massachusetts. Duple, triplex or cuadplex with more than 2 beds per unit. Not interested in Springfield or Holyoke. Ready to move forward with the right properties. 

Hi Brett, I am a local investor(Buy and hold) in your area. Congratulations on your new investment property! The numbers in my opinion look really good for Western Mass. Happy to assist you in case of any questions. By the way,  any similar deals that you may encounter please let me know. Thanks.

TAW and it has 3 units. 2 units are 3/1 and one is a 2/1 , Rent  $1,100, $950 and $700 . I think I will be doing more research regarding the lead part before buying. Thanks all for your contributions. 

Massachusetts laws are not landlord friendly at all. Even if parents sign a document saying that they are aware of lead in the property you still liable. Also you cannot decline a tenant who has kids if you know the unit has lead because that would be discrimination.