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13 January 2025 | 3 replies
@Ricky Smith if you continue to expand, how will you hire help w/o a PMC set up?
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14 January 2025 | 6 replies
Hire a property management company who will manage it for you.
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21 January 2025 | 10 replies
She did move in two cats during her tenancy (with my permission after the fact), and the house was left in fairly good condition when she moved out:Most holes were patched (though some in the basement were missed).It was moderately clean but needed extra cleaning due to cat hair in the carpets.Minor issues included:A missing doorbell.Missing shower hardware.One of the window blinds needed replacement.A truck bed full of items left in the shed that I had to haul away.Since I was in a pinch between Christmas and New Year’s, I hired professional cleaners for a quick turnaround.
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26 January 2025 | 14 replies
Hire an attorney to handle this, or it'll cost more and take longer than necessary.
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16 January 2025 | 7 replies
Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.
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22 January 2025 | 5 replies
In anything you do, make sure you do your do diligence and hire the right professionals to walk you through its steps.Hope that helps.
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12 January 2025 | 2 replies
Just got off the phone with another DIY landlord looking to hire a PMC.They really didn't like our response to their question, "How long does it take you to find a tenant?"
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27 January 2025 | 12 replies
IMO how you treat the BRRRR project regarding who you hire and what you spend and timeline depends on the region and SOW3.
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10 February 2025 | 16 replies
I'm calculating for prop management even though I would likely owner-operate because I need to make something off the deal if I am focused on cashflow, especially if I scale and actually need to hire a manager.Given that interest rates in the area are about 7% and prices for single family and small multifamily have doubled (and tripled) in 7 years, the barrier feels way higher than it really should be.
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27 January 2025 | 6 replies
I was fortunate we all got along and they hired me full-time 2 months later.