Newbie investor! Texas investing

[Nathan Krehbiel]

Hey BP!

My name is Nathan and I am a new potential investor looking to get recommendations for Dallas and Houston area realtors. Currently in California for work but am intending on settling down in Texas sometime next year. Looking to network with realtors/investors in Texas to further understand the markets and hopefully get into some investment properties in the near future!

Looking for all recommendations, 

Thank you all in advance!

[Steve Rozenberg]

@Nathan Krehbiel

I would suggest that you make sure that who ever you use is aligned with your investing goals. You want to make sure that they are on your team and it is a win / win scenario for both parties. 

Before I help any investor find a property that they want us to manage for them I always like to have an initial sit down to make sure that my business model aligns with theirs. We manage over 1,000 homes and 50-60% of the owners are out of state and out of country. So I feel it is important to have these conversations first to make sure expectations are correct on both sides.

Also take a look at online reviews of the people / company and that can give you a good idea.

If you are looking for property management companies here are some good questions to ask.

I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.

My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach out

Questions to Ask prospective management companies

• What are your average days on market for vacant homes?
• What is your average rent amount for all properties managed?
• What is your average work order cost for the owner?
• What is your average make ready cost for the owner?
• Are all my invoices uploaded to my owner portal?
• How do you advertise your vacant units?
• Do I receive video of my pre and post make ready?
• Do you have a setup fee?
• Do you upcharge on maintenance?
• When do you make owner payments? How often?
• Are you a Certified Property Manager?
• Are you a member of NARPM?
• What is your Guarantee?
• Do you provide move in and move out reports
• How many pictures do you take of the property prior to tenant moves in and after the tenant moves out
• Do you get weekly reports when the property is vacant what prospective tenants are saying about your home
• Do you provide monthly newsletters to your tenants
• Do you hold investor education classes to help me become a better investor
• Do you have single point portfolio based management services?
• How many properties do the owners actually own themselves?
• What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuits
• How familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?

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