New to Real Estate · Portland, OR · Member since 2022 · 11 posts · 3 votes
Hi,
Has any one invested in turnkey duplexes provided and managed by Thomas Fischer. He also has a property management company that manages the properties.
Has any one invested in turnkey duplexes provided and managed by Thomas Fischer. He also has a property management company that manages the properties.
Thanks in advance.
I've sold Tom Fischer some properties in Cleveland. I've never had an issue working with him. He seems like a pretty good dude.
Has any one invested in turnkey duplexes provided and managed by Thomas Fischer. He also has a property management company that manages the properties.
Thanks in advance.
I've sold Tom Fischer some properties in Cleveland. I've never had an issue working with him. He seems like a pretty good dude.
I’m working with his team right now on something. Process has been relatively smooth so far. Happy to keep things documented here if it helps or answer any questions you might have
I’m working with his team right now on something. Process has been relatively smooth so far. Happy to keep things documented here if it helps or answer any questions you might ha
Acquisition process was relatively smooth. I picked a property that the team was still in the middle of doing renovations on. It appraised as expected without any problems.
My inspector noticed a couple minor things that needed work, and Tom’s team fixed those things up without a question. They provided pictures as proof because I didn’t have time to fly out again.
I’m using Tom’s PM company too. We got the building mostly tenanted before the holiday season. Still have one unit vacant but I’m pretty insistent on high credit quality tenants and it’s not the best neighborhood for that in the middle of winter.
Prop management team is pretty responsive. I can recommend them so far - coming up on a year of working with them and no red flags yet.
Tom’s proforma was actually pretty solid but as always, do your own due diligence. Trust but verify.
Thanks Varun. This is great. I appreciate the response. I do have a couple of follow up questions. One of the big concerns is the high property taxes. Did yours adjust or are you budgeting for an adjustment? Can you tell me the neighborhood? And lastly, is this a duplex, tri our quad? I may DM you directly if you don't mind.
Rental Property Investor · Member since 2023 · 1k+ posts · 922 votes
2y
I know nothing about the gentlemen you're asking about. But speaking generally be leery of tenants placed by flippers. Make sure they have good processes for property management and not just flipping/sales with PM as an afterthought.
If you're taking a loan to buy the property don't expect to make any money (and expect to send some) for the first 5 years or more.
Happy to give you more details off thread since this is more shop talk than it is related to Tom.
Also for any of you that are curious, probably worth noting that Tom has not asked me to give them a review and this isn't a sponsored post. Actually don't even know if he uses Bigger Pockets.