All Forum Posts by: Atwan Kwan

@Tzvi Balsam tenants do

@Tzvi Balsam 

@James Austin

yes, I understand. but from what she described, it's just dripping into the bowl, not leaking onto the floor to cause any immediate damage.

I manage in a pretty good area. And I'm use to getting really SMART, responsible tenants who rarely give me problems.....

I'll spare you the details of another ridiculous tenant story..... but they are 2 weeks from moving out and she's complaining of a leaky dripping sink that she says occurred last Thursday....

Is that an issue that a property management company should be taking care of? ....Let's just say, they've already called in enough service calls for problems that literally equated to changing the battery in the thermostat.....

a lot of the advice ur getting here is from sage-old experienced people who've had a lot of success.....

so of course they're going to preach the "safest" path with 20/20 hindsight.....

If you're young, that's all the more reason to go FULL TILT. Find your passion and bet big.

You don't want to be asking these questions 20 years later.....

If your fear is screwing up royally, whether financially or relationships or personally or whatever....

the best thing you can do is RESEARCH the hell out of it. Read everything you can, latch on to people like a koala to a tree. If you do screw up, it didn't come out the way you thought, you shouldn't have regrets putting in all that work..... rather than making a big bet from a stupid whim....

and more likely, while you're doing all that work you'll know well in advance if this is the industry for you by how well it keeps your interest.....

I have a college degree, a realtor's license, and worked for big name property management companies..... AND I AM NOT an academic person..... 

A lot of people are telling you to get a degree, but I'm willing to bet they would agree that college tuition is ONE of the WORST INVESTMENTS you could make with no guarantee of ANY return....

It only becomes worth anything to you, if your learning about something you love.... which you can do without a life-long student loan...... 

You'll look back MUCH more fulfilled with battle scars to show, rather than going the "safest" path and STILL asking the same questions.....

Have fun, learn lots, enjoy the ride...

@Thomas S. you mean after the $300 profit (return on equity) I only have $500 to pay mortgage, tax, repairs etc?...

I only want to put down $15k and I can get monthly payments of max $350.... So wouldn't my return be much higher from what I put down? I calculate at least 20%....

@Thomas S.

"After deducting 5% return on equity you only have $500 to cover all expenses." 

 Thanks Greg,

I don't quite understand what you mean

I WAS ecstatic to sign a new client with an agreement today....

But I'm also a realtor.... so when I doubled checked the MLS, his name is not listed in tax records....

I might be OVERLY cautious on this, because it's his sister who's on the tax record....

I have met up with both of them, and it is fair to assume the guy signing helps take care of the assets.... But should I be worried in signing the agreement?

Thanks,

AK

I've been looking into condos. And I can say there's a big range, from terrible mgmt to clockwork service.....

Definitely good tip to look into more carefully thought.... Thanks,

AK

@Sergey Tkachev Thanks! any issues in particular you think I should watch out for?

I know tenants are good.

Property is good.

profit after holding costs.

........