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29 January 2025 | 0 replies
Divide the long-term vision into manageable steps.
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30 January 2025 | 5 replies
The utility company doesn't manage your property...they provide paid services until they're not paid anymore.
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23 January 2025 | 10 replies
Talk to property managers and see if they would manage the other units.
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12 February 2025 | 4 replies
I manage around 400 rentals with 14 years of experience and have never been sued once.
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3 February 2025 | 15 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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11 February 2025 | 4 replies
If you're a relatively new multifamily operator, you'll likely be required to hire a professional management company (inexperienced owners are typically not allowed to self manage the assets).
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8 February 2025 | 80 replies
I do property management only that saves 10% and can be done while managing a W2 job.
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11 February 2025 | 10 replies
Quote from @Krishnan Iyer: Hey Tom, I use Stessa to manage all my income and expenses (bookkeeping) for all my properties.
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1 February 2025 | 1 reply
Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow.
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10 February 2025 | 1 reply
@Grant ShipmanIn my experience with these units are very difficult to manage and people at the 30% level also create a new set of problems.