All Forum Posts by: Devin Woods

AJ, I'm glad to hear things are progressing well for you guys on your first deal. Good luck with the rest of the process and your next one as well.

I would have to agree Shawn, it's not just the neighborhoods, it's a street by street or block by block city.

Paige, Welcome to the BP Community. Good luck on your second flip. What suburb area are you looking to buy this next one in?

Mark, I had a similar issue. A building I bought had the same trash service set up, a dumpster that was picked up weekly. We were able to negotiate the pickup periods to be less frequent. This cut the cost in half basically. If you're having a problem with overfilling, obviously cutting down on pickups wouldn't help that issue. But, you may be able to upgrade the size of the container, which is pretty cheap in cost compared to the charge for actually picking up the trash. I'm sure the company would be willing to upgrade you, and you may even get a better deal by signing a longer term contract. -Devin

Ian Hoover He's out of KW in the south hills. Ian's been my agent for many deals, and I'd highly recommend him.

Mark J. I do agree that it's an obstacle. However I have found a portfolio lender who is willing to do 80% LTV of cash out refi's. They offer a 30 year ammortization with a 15 year balloon. I generally don't buy properties below $90k, but did for my first duplex. I bout it for $76k and refinanced it 2 years later, pulling almost all my investment. For this to happen, you are absolutely right, you need to buy at the right price. If you pay too much, you won't be able to get a high enough appraisal no matter how much you renovate. You simply have too high a starting point.

Anthony, I invest in multi-families / apartments in the South Hills. I don't live in that area but I would certainly be interested in attending a meetup.

My current one doesn't offer them at all. And I've had maintenance folks going to these properties many times from the PM, never mentioned other issues. It was like pulling teeth to get them to go over after a vacancy to assess. Only after I had some issues, I went myself, and found there were some major issues that's now costing my thousands to address before I can fill the vacancies. I guess my mistake was assuming that my PM company was doing anything proactive. Our definitions of Management must be different.

Thanks Zach Fetchu Thanks for your response. I do have many units under property management currently. That's what is causing me to ask others. I know what is common in my area with the PMs around me. I'm looking for what is common with PMs in general or in other areas.

I have a question for those who have extensive dealings with property management companies. Would you expect, as an owner, or is it common for the 3rd party PM companies to perform inspections of your properties for you? This is referring to routine or periodic inspections, as well as any additional visits such as stopping by to check on contractor's work, etc... Please let me know what you guys have seen, thanks!