Being around the property for scheduled maintenance gives you good insight into the tenants habits and the result on your real property.

Thanks Deterion,that information is vital to growth.Pleasepost your contact info and any info you have.Thanks againCharles.

forgive me for hijacking the thread but this is the type of local knowledge is vital for long distance landlords..

So, with that said your family is part right (get another agent), I say have a sit down and explain how vital it is for him to decimate information to you promptly.

Even though you have the money in the bank to cover reserves now, get in the habit to set some portion aside each month - if you keep buying more units, you'll be glad that you don't have to relearn the game later on down the road.

The archer (insurance) won't pick off every bad guy that tries to get in, so having the walls and moat is vital.

Realize that people, products and processes are vital: Treat employees well and they will want to work; understand the product being sold and make sure it is relevant; have a smooth process to execute those two things.2.

It wasn't a broken down building that needed work, it was getting about 12% cap rate when I bought it.Negotiated the property down to $400k, spent $40k changing a gutted storage area into another apartment and fixing up another area so it could be habitable (this $40k could have been considerably less if I did the work myself).

I know myself and my habit of procrastination, so the time limit along with being held accountable by others makes for a lot of work on my part.In the next five years, I plan on being a prominent investor with an extensive portfolio ranging from single family, multi, apartments, and commercial buildings.

Asking to speak with them and even see the inside of the building would speak to their habits and lifestyle that much more!