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5 July 2018 | 110 replies
Greg: First, do not get discouraged by anyone, someone else is doing it so you can, not going to be easy.If not done already I suggest to look into this:Enforce that PM uses a great website for rental screening, ones with a background check and choose the best tenants possible.Review you leases to close any pitfalls and enforce the lease to the T.Keep the units in good shape and keep extra cash reserves ( fixing + trip expenses )Tiger than normal lookup on the PM ( have second PM line up ), vacancies, unit showing costs, repairs, fees, etc, require a once a week normal operations report and a once a month full operations report.Family, friend on virtual assistant that regularly drive by the property and reports to you, or if cash flow allows and deem beneficial you can install security cameras and remote view activity on the property, nowadays there are lots of options.Check if feasible to get a home warranty plan for the units so some pain issues are self-managed by the tenant via a phone call to the warranting companyIn which city/state is the property?
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29 June 2018 | 6 replies
I'm a full time realtor and work with several investors throughout the year.
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5 July 2018 | 10 replies
They did an inspection of my office so they could send me the full credit report.
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2 July 2018 | 25 replies
In Portlandia were are see price concession and or free rent etc on some of the new build real high end 2500 dollar elevator buildings on the east side.. this is happening now.form what a friend of mine who owns a management company with 6k plus doors was telling me at lunch.a few buildings are stressed right now.take this scenario.. you buy the land 3 to 5 years ago it takes at LEAST 2 years to get through permitting then another year to build.. cost of building in this time has gone up 10% or more.. land is static .. and your proforma show this ever increasing rent.. you now come on market and your 4 story elevator building now cost you 400 a foot to build.so your in a new apartment 400k.. you need 2,500 a month just to hit your investor grade 4 to 5 cap.. and now rents start to pull back as they are or lease up is very slow at those values.. so you have full amount of debt on the building and of course everyone these days has max debt.. so debt service and DCR ratios start to go out of wac you have annual reporting and loan covenants .. you no longer meet your covenants and you have a cash call to your lender along with negative cash flow.. this is what I mean by some are stressed..
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28 June 2018 | 4 replies
Ever since I started investing I have been putting 100% of every penny of cashflow into reserves.I work full-time and live off my W2 salary and I don't touch my investments.I'm at the point where I would like to start re-investing my cashflow into either more properties or paying down debt.
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28 June 2018 | 4 replies
There are thousands of posts on BP, almost every day, and keeping advertisements, deal-making and fights clear from the forums is not an easy task; if threads weren't moderated the forums would quickly become virtually unusable and unattractive to the majority of people here that are just trying to learn more about real estate investing.
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29 June 2018 | 1 reply
I have a full time IT job with similar schedule flexibility.
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29 June 2018 | 3 replies
I’ve been a full time investor for about 5 years and have found that partnering up has been a key way to grow my business.
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4 July 2018 | 13 replies
.), but larger ones are probably not something I want to really get into at the moment (full kitchen remodels, full plumbing or electrical replacements, etc.).