All Forum Posts by: Aaron Wyssmann

@Greg Gordon

On the other side of the fence, being a PM, you have to set who you want to work for.  Don't go to work with just anyone.  For example, maintenance is a fine line for each owner and you really need to set up some parameters to protect your tenants as well as yourself.  You should have a set minimum that an owner has to have in escrow with you to cover an unexpected expense, say $500 or $1000.  As a PM it is your job to make sure the tenants have a safe and clean place to live.  If a water heater goes out on a Saturday evening and you have to get one installed on Sunday in the middle of winter so they can have hot water you need to have enough in escrow to cover this.  Otherwise you'll be scrambling either to track down the owner or write the check yourself and then get reimbursed.

In a way, if you have good references and know what you are doing...play a little hard to get.  Know your value and sell that to people who will take care of their properties.  

Good luck in the venture.  I'd love to know how it goes for you.  Hit me up if you have any questions.

I used to have a limit of 25# because I personally had two large labs and just by the fact that they were big they did damage...and I own and care about my home.  I have found that larger dogs are more likely to dig up yards, etc.  

In terms of the pee situation I've had both do some pretty severe damage.  When they do I've found the only real option is to pull the carpet and try to clean it.  Pull the pad completely out of the home and throw it away and then seal the floor with an oil based sealer, like Kilz.  Then have new pad installed and the carpet re-installed.  

(Side note:  I just had a property that had a large dog literally pee over and over in one room...it was awful.  We have a carpet cleaning company that guarantees they can get the smell out.  They had to come out three different times to clean it and the smell finally left the carpet.  They definitely lost some money on that home.)

There are several posts here that had me cracking up. 

I think the point here is really integrity. We have an agent in my town who did the very thing that started this thread several years ago. He simply sent paper flying all over town with offers 0.30 on the $1. He did this for years and sure he did pick up some homes that way. But the reputation he has because of it stills resides with him today. I have found in life that a win-win for both sides is what makes a transaction a success. 

Just because you could take advantage of a person/situation doesn't mean you should.   Unfortunately in this situation this would be investor doesn't really care about helping someone out, just finding a deal. 

Love the discussion though. As investors we do have to buy deals right, otherwise most the time they won't work. 

Great article and I completely agree with @Jerry W. We'll said. 

What an awesome thread.  Way to go on stepping out and taking action.  Getting over the fear I believe is the hardest part.  I think you are making some great decisions.  First to hold back all the extra to build up reserves and second that you are doing your own PM.  It isn't always easy but you will learn so much.  There are some great folks out here that know what they are doing and will be happy to help.

Nice job.

@Westin Hudnall that's great. Glad it turned out well. 

@Rick H. You're good.  I like the humor.  

@Rick H.  I do always seem to forget that very simple and yet complex idea that I have to focus on their needs/wants/desires.  Thanks

@Jon Klaus I had not.  Thanks so much for the heads up.  I was looking but wasn't finding anything.  I appreciate it.

I'd like to mail out a good letter to some houses in my area that look abandoned, not well kept, etc.  I've been "driving for $" as they say and would like to send something out.  

Any help would be great.