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4 June 2024 | 10 replies
Feel" the true beat of the portfolio's income and expenses performance before using leverage to speed up the growth of your portfolio.Using cash only will protect your bottom line in scenario's like yours when the properties don't perform as expected as you won't be on the hook to cover the mortgage expenses.Just my bias opinion so take it with a grain of salt.I've also witnessed many finger pointing instances when others get involved.Like a new property manager, realtor, contractor, etc...I've had my share of bad experiences with realtors that threw my company under the bus and got in the investors ear to flog it at any price just so they can make a quick commission.It get's very messy, painful and pretty much turns into a disaster with the investor not knowing who to trust or what to do anymore.Similar to what you post about has happened to me and my company many times and if allowed the opportunity, we do our best to fix and come good.Some loose trust and faith and I 100% understand, but as soon as someone leaves the wing of my company there is not much that we can do because as I mentioned above, everyone else get's involved, has an opinion and the situation get's very messy.Having in-house property management is vital when such a "crisis" arises.I tried out-sourced PM when we first started and it was a disaster.We had no choice other than to bring it in-house.Hated my life for the first 5 years with in-house PM and fast forward 10 years, it has become our "golden goose" and a very well streamlined and beautiful business.From what I've seen and read on the forum and elsewhere it seems like RTR has a good reputation and what you have mentioned seems like a "worst case scenario".I hope RTR will assist you the best they can and all I can say is learn from the experience and don't give up.Do your best to weather the storm and focus on minutia.Don't have regrets and don't spend too much time dwelling on the past.Glimpse into the past to get guidance from what you could have done better and think ahead.Move forward smarter, more experienced and better.Wishing you well and much success with your future endeavors.
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1 June 2024 | 4 replies
Are you an aviation engineer and your company just lost its next contract.Do you work in an assembly line making wash machines and they outsource to China.Are you a concrete worker and get laid off since construction has cut back.On this forum the question is how is your REI moving forward.
29 May 2024 | 14 replies
This is all my opinion of course, some people are happy to blindly outsource and get mediocre results.
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31 May 2024 | 6 replies
- Are they fully integrated or do they outsource everything?
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30 May 2024 | 8 replies
can try outsourcing the calling and then speak to the ones that are already semi interested
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29 May 2024 | 64 replies
If it is eating you up, Outsource it.
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29 May 2024 | 20 replies
Outsourcing to a property management team suits those lacking time or desire for involvement but entails costs and relinquishing control.
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31 May 2024 | 44 replies
At that point, you're not running a PM business you're also running a construction outsourcing business within your property management company.
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29 May 2024 | 21 replies
However if you want to just open the account and outsource the building.
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26 May 2024 | 14 replies
Then, acquired a couple more properties and W2 work got super demanding, now I outsourced it all to a PM.