All Forum Posts by: Account Closed

Thank you for your service. I’m sorry that you’ve had a hard time finding a place to rent. Some property managers will look at other factors, not just your credit score. I would suggest making sure you don’t have any delinquent utility accounts or back rent. Another option would be a co-living arrangement utilizing a company like PadSplit. I hope this helps. 

Sharing some of my personal experience. I moved from Chicago to Nashville, and decided to rent out my house in Chicago. It was an older home that had lots of issues. Managing it was a nightmare because things constantly broke, and needed to be repaired. Thankfully, I had good tenants, and they always paid on time. I eventually sold this property. A property manager would have greatly reduced my headaches in this situation. If instead you’re looking to invest in a newer townhouse or condo self managing it would be more manageable. 

I’m interested in the replies as I’m in a similar position.

Agreed go with an MBA. 

Most of the technical aspects have already been covered. The relationship between the property manger and owner is one that should be based on trust. Especially if you're an investor, you're going to want to go with someone that can help you grow your business. Your property manger is really an asset manager. They help you grow your investment portfolio, by maintaining the asset, protecting the downside by placing good tenants, and help you analyze new properties. 

Try to find any documentation possible. It doesn't appear that there was anything wrong with the property. It seems to me like they broke the lease. I would ask the insurance company for more documentation on the reasoning. 

It is simply math. Of course, you maximize cash flow after the property is paid off, but the longer you hold a property, the more cash flow you'll enjoy. You can also take out equity, which in itself, is a way of cash flowing the property. 

I'm also in Nashville and getting started in property mgmt. I'd love to connect with you. What kind of deals are you looking at? 

A month later, you're probably right. Inflation continues to be elevated, even if it's under the 2022 levels.