Who: Wyoming Valley Real Estate Investors AssociationWhat: March Real Estate Meet-UpWhen: March 26, 2024 at 7:00 PMWhere: Grotto Pizza (Near the Wyoming Valley Mall, private room toward the back)Why: This month, in addition to talking real estate amongst the group, we are fortunate enough to have Jillian Kemmerer is co-owner Cityline Property Management Group.

My plan is to self-manage the property and rent it out by the room, and I believe your expertise could provide invaluable insights to help me navigate this venture successfully.Specifically, I'm seeking advice on the following areas:Property Management Software: I'd appreciate recommendations for property management software that would streamline my operations and help me stay organized.Bookkeeping: Could you provide guidance on best practices for bookkeeping in rental property management?

Maybe you are more interested in acquisitions or asset management, so make sure you know what you want, and clarify that to the mentorship.

Considering that you want to retire in seven to ten years, it's critical to evaluate how various funding options fit into your long-term strategy.Property Management: Think about how you'll take care of the property if you want to rent it out.

In this week’s blog, I am turning it over to Auben Columbia’s Market Sales Manager, Chris deTreville, and his thoughts on what a 20-year scatter site residential rental professional thinks about new construction rentals and specifically intentionally developed (build-for-rent) rental communities.

I think getting my ducks (management/ financing) in a row and seeking out a discounted MF deal makes a lot of sense.

Once you close on the sale of your relinquished property, then the clock to ID a replacement property starts ticking. 45 days is manageable but the time goes quickly and a lot can happen in that time.

Thanks @Jay King - The trustee in this case is a trust company that is managing the estate, you're saying I can offer them additional money to sell the house to me and it might work versus an individual person who was named as a trustee? 

If it were me, I'd find a friend or family member with some cash, convince them that it is a good investment and say that you will manage it for them at market rate of 15-25% depending on your market.

I just started thinking about selling it because of the new local rental/landlord law in Concord, and there is no more depreciation.Plus, I am thinking of maybe it will be nice to have a vacation/rental home in HI too and not worry much of maintenance if the building has maintenance and manager in house.