The numbers only looked good initially and really led to headaches in actuality.It really was hard to step out of my tunnel vision when I was over the moon when I heard of the profit I could make rather than looking at my own market with my initial funds.I agree that one or two solid investments outweigh many cruddy properties just to show that I have so many under my belt.Quality over quantity is the motto going forward for sure.

Most rehabbers include only enough for initial demolition/cleanout, drywall scrap removal and end of project cleaning.

Initially, we didnt give them they money until work has been done but based on the work and relationship we built, we decided to pay this one ahead for the next project. 

I also own properties in the Cleveland area and initially paid for them under my personal name before transferring them into my LLC.

My California tenant has initiated his monthly rent payment ($2100) to pull from his Chase account on March 14 through my Avail PM system, but I will not be receiving it until March 19. 

However, before I am aware of all the project details, location, complexity and type of finishes, this is just an initial conversation placeholder.

Most initial responses are people with inflated prices (higher than market value).

In the same way, so many churches want to guilt you into giving directly to their institution (mostly because they have initiatives they feel are important). 

- Initial paperwork and chasing overworked caseworkers to process it, so tenant can move in- Helping the tenant complete & turn in their required paperwork to start the lease- Annual S8 inspections, which tenants often make difficult to schedule- Dealing with silly maintenance requests because tenant too lazy to change lightbulbs, etc.- Getting tenants to agree to rent increases and turning in all the required paperwork to caseworker, then, you guessed it, chasing them to process it- Dealing with the tenant's "entitlement attitude" that they don't have to follow the terms of the lease, so they move in other individuals and/or get pets without permission.So, a good PMC will charge something more to manage a S8 tenant/property - either a higher percentage or a one-time or annual fee.

Hi All, We're considering our first private loan and have calculated our costs based on an initial conversation with the investor.