
7 July 2021 | 16 replies
An agent and a PMC should work together to find you great rental properties.We don't recommend relying solely on an agent as they're out of the picture after the closing.No one has more "skin in the game" than a PMC as they have to deal with the property every day until an owner sells or fires them.Also recommend finding your own Inspector and not one referred by an agent.

31 July 2021 | 7 replies
Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!
30 June 2021 | 2 replies
However, many investors like to see that the sponsor has their money invested also (" skin in the game") so I'd try to invest something, or make sure that SOMEONE on the general partnership team has some of their own capital invested.

11 September 2021 | 3 replies
I've been learning about the use of products that address enzymes but somesay it is only good for porous surfaces like carpet.

28 June 2021 | 13 replies
We had the time booked within 24 hours so no skin off our nose.

29 June 2021 | 5 replies
No one has more "skin in the game" than a PMC as they have to deal with the property every day until an owner sells or fires them.Also recommend finding your own Inspector and not one referred by an agent.

29 June 2021 | 3 replies
Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

28 June 2021 | 2 replies
It's always their first practice run that makes me jump out of my skin then I'm fine for the rest of the weekend.Anyhow, that's enough about me.

28 June 2021 | 2 replies
It shows that you have some skin in the game and also that you value their time and knowledge.And supplying them with a long term funnel of deals in exchange for some counsel is great.

1 July 2021 | 7 replies
Among the details you want to make sure you obtain (usually available on the website of the local building and zoning department): size and use of buildings, minimum and maximum lot sizes, building coverage (permeable surface), setbacks, density limitations, parking requirements, and allowable business among other details.