All Forum Posts by: Alberto Nikodimov

Hi @Joseph A Berrios, we are a property management company in Central Florida. I will be happy to connect and talk about your goals! We specialize in out of state/out of country investors.

Hi @Johnson Yu, I'm glad you have found an area you are interested in. I've been looking at Cleveland for a while as well. Once you get started, I will be happy to learn about your experience and maybe invest there myself. Let's keep in touch!

Househack - This is the way! 

If you have reliable roomates who are willing to do that you should go for it! It's a no brainer! Especially in Detroit where houses are so affordable! You will have a great cash flow while you live inside (while paying off mortgage) and 1st rental property as soon as you are done with collage. Let me know if you have any questions. I've done it and I have few tips!

Hi @Elliot Lamson , Orlando/Central Florida has many property management companies and prices are competitive. All investors especially the ones with multiple properties should concentrating on the product and service provided rather than price. This is valid for every industry, as a consumer you can only pick 2 out of the following 3 - product, service & price. If you pick a provider with low pricing their product or service will be lacking in some way. If you pick great product and great service most likely the price will be higher. As an investor with multiple properties, picking a lower priced PM company increases your risk. If something is not handled well your entire portfolio will suffer. On the other hand, if everything is handled the proper way and your PM is proactive rather than reactive, you will be saving lots of money even if they charge you a higher fee.

With that being said, we charge 10% but we offer special pricing for investors with multiple properties. NO hidden fees, small print or long term contracts.

Also, it is worth to mention that in PM around the country it is a common practice for Property managers with lower fees to make up their discount in small additional fees added over the year. Most likely, you will end up paying close to 10% anyway.

I'm will be happy to connect!

Hi Garret, I just saw your post! We are a property management company in Orlando specializing in investment properties. I will be happy to connect! Let me know if you want to schedule a call!

My only recommendation would be: If you are paying a referral fee, pay it from your profits. Don't make the client pay for it.

Many of the GCs I know pay referral fees but then adjust the price and overcharge. If I was to accept and refer them business I would be making a bad decision for my client just so I can get paid. This is unethical and not the way we are doing business. This is why we have never done it.

On the other hand, we have agreements with other vendors where we refer a lot of business. They charge the same prices and we even get special treatment for referring a lot of business. We even get better pricing than most other companies do! Most importantly, clients pay the same price and is never overcharged. Every 6 months they look at the accounts and see how much business we have referred to them and pay us a percentage. Some companies do 5% others 10%.

They still end up making a lot of money due to the volume and we are happy because our clients never overpay and their investments are performing well.

Hi @Jamie Fankhauser, I believe the best way for a newbie to start is with a househack. You can either buy a single family home and rent out the other rooms (you will have to share common spaces) or buy a duplex or triplex and use one of the units while renting out the rest. In both scenarios your mortgage payment + taxes will be covered and you are eliminating the biggest expense of every young person - RENT! You should purchase with an FHA loan which will allow you to only put down 3.5% of the purchase price (You need to reside in the property for at least a year). In the Atlanta or Charlotte area 3.5% is usually less than $15,000.

I saw that you played soccer in UNC. I was actually doing my first househack by renting other rooms to my teammates from my soccer team!

Of course, never stop educating yourself and learning from other people! Keep in mind that many people have been in your shoes and they have found a solution and a path to success. You can either try to figure out everything yourself or get an advice! I recommend getting an advice from 2-3 people with similar experience and then deciding what's best for you!

I will be happy to connect and share my experience if you feel this is the right way for you!

Hi @Jamie Fankhauser

Here is my list of Top 5 favorites:

1) Rich Dad Poor Dad
2) Richest man in Babylon
3) The 48 Laws of Power
4) Principles - Ray Dalio
5) The Alchemist (This is not a RE book but it is a great read which teaches you to trust the process, constantly learn and enjoy the ride while chasing your goals.This would be my #1 if the list was not RE related)

Hi @Shawn G., thanks for replying! I will be reaching out to you!