It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

My main question is should we wait the extra time so we can hold the property longer or should we try and sell this year, take the profit and scale quicker.

Hey Spencer - It sounds like a great idea to generate some extra income with your empty room!

By adding an extra bedroom, and opening up the 2nd unit by restructuring some of the walls, switching around some of the rooms in the first unit to make it more inviting and give it a larger kitchen.

A lot of it is the standard Buildium application, most of the extras I put in there after reading Landlording on Autopilot by Mike Butler.Application fee needs to cover all your screening costs. 

They've probably been burned before. 

We get an extra 3 deals a month from it.

You’ll need a real estate attorney experienced in creative financing.Land Trusts for Extra Protection – Many investors in Illinois use a land trust to hold title when doing subject-to deals.

If you do find a PMC willing to do this, expect to pay quite a bit more for all the extra hassles!