Enabling and investing don't mix.

We're like cats and dogs on some issues and when it's over we're buying each other drinks and talking real estate, women and cars.

I just saw a mixed use (MF with a small commerical attached) on the mls an was thinking how useful that would have been and how much more professional it would appear.I will definitely need to work on the running it as a business in the future as I was probably more friendly with the showings than a strictly business person might have been.

Not in this cake mix is some fallout related to commercial.

good point Peter, but abundance or not, who wants a bunch of new investors mixing into their area?

For people with established investments, obviously there is no desire to mix personal with business.

Other times people try to apply knowledge that is completely wrong or is partially correct giving them mixed or unsuccessful results.So every time people should research to see if they have the right info and then implement what they learn.

It was brokered by a different listing agent and that agent said there were already 15 offers well above the asking price and offered to throw mine into the mix.

The inspectors out here want to see GFCI breakers on the panel for the bedrooms and they don't want them mixed with lighting.

The level of management needed will depend on the age of the property and what type of repairs have been completed along the way.If you buy a property with deferred maintenance getting it turned around the first 6 months will take a ton of time.A manager should be compensated for the extra work in that case.A 10% fee simply will not cover or make worthwhile all the work involved.There will be eviction,court dates,trash outs,re-conditioning,advertising,tenant apps with criminal and credit check,ongoing repairs with tenants that are staying,etc.For all of you that want to manage other people's properties you need to check with your state's real estate commission.In many states including mine you will have to hold a license with a brokerage or be a broker.Some exceptions is if you are an employee of the company etc.I think often times investors have a high expectancy of PM work.Simply it's like owning a restaurant and having an 8 hr worker.To expect that worker to be just as excited and diligent about the business when they get nothing but a small check is a pipe dream.If I pay 100 for a steak then I demand service.If I go through the drive in at Taco Bell I expect the food to be correct and nothing else.Managing 100 properties yourself without help is the exception and not the rule.This is based on my experience dealing with apartment owners.One had about 210 units over 10 buildings all within a few miles of each other.Vintage stock and unit mix was all different ages.They ran it themselves BUT had a full time leasing manager,bookkeeper,and about 3 maintenance guys.There is no way without the help they could run them selves.I have seen basically one person locally could handle up to about a 20 to 30 unit by themselves.After that it becomes really difficult.Many investors buying in this range are not purchasing a new building.These are older buildings that need constant upkeep and have problems.Typically the mechanicals,plumbing,electrical all start failing at different intervals.I have a 20 unit and have a live in PM.It lets me focus on my real estate deals and I check in with them every 2 days or so to see how things are going.I don't want to do 10 hr work when I can make hundreds per hour selling real estate for my clients.If you want to invest out of state you could do triple net leases for mail box money.The CAP is about 7 to 8% where I am at right now.If you want higher returns then usually you have to take on more problems and risk.