All Forum Posts by: Adam Moehn

@Adam Rees @Beau Brown If you search on meetup.com, you can find the Iowa city group. I go their meetings sometimes.

Welcome @Floyd Orr!

Welcome @Melanie Osornio!

Welcome @Matthew Haan!

Thanks for the tips guys!

Thanks for the recommendation, @Glenn McCrorey! I gave Jeff a call and he's going to take a look at it.

It's basically trade off between higher returns vs less risk and less work. Anytime there's a trade off there's no right answer. 20 paid off houses may cashflow about the same as 40 houses with mortgages. In the long run the 40 should earn you more though, but 20 will be half the work and is less risky since there's no mortgage payments.

I'm in growth mode now, but I figure I'll probably eventually decide I've got enough and then just take the path of paying them off.

If you do decide to start paying them off, I'd recommend paying them off in the order or the interest rates. Highest first, lowest last.

Does anyone have recommendations of who use in cedar rapids for water heater repair/replacement? I've got one that has leak. Thanks!

Welcome @Tiffany LaBrie!

I'd like to see a fee system that better aligns the manager's interests with the owners.

Placement Fees: Turnover is bad of owners but this fee makes is good for managers. It's therefore a terrible fee structure. Bonuses for keeping tenants long term might be a good alternative.

Monthly Fees: Charging a percentage of rent doesn't make much sense. Managing a $1000 unit is not twice as much work as managing a $500 unit. In fact, it's probably less work because it may be in a better part of town and is a nicer property that gets better tenants. Managers tend to attract the worse properties because landlords would rather pay them $50 per month to take care of their $500 property that is a pain than pay them $100 a month to take care of their nice property that rents itself. A flat fee per unit would make more sense.

Other Fees: There shouldn't really need to be other fees. Handling repairs, notices, evictions, etc. are part of managing a property which is what the monthly fee is there to cover.

Welcome @Matthew Pinkston!