All Forum Posts by: Daniel Hanson

Just realized this thread was getting some responses, when I checked back.  I'll message a few of you on your responses, and follow up with a few more of the named PM's.

Originally posted by @Seth Williams:

You keep using the word Residing, Meaning you will live in this new property? A lot of the times banks don't want that its not going to matter if its primary residence

 I think in this case he means re-sided, as in put new siding on to increase value

Agreed, you should be able to hire a property manager for just one property, Joshua Engemann . I never would have gotten started without that first property under management. You just need to make sure you can cash flow above the cost of the PM, which may be difficult in many markets.

yep! @Jonathan Johnson

If you google Michael Blank, he has some spreadsheets already set up that do this, some of them are pretty sophisticated.

@Jonathan Johnson I think you are asking the question of how to calculate loan amortization in excel.   It is based on the =PMT() function (and other related functions in Excel).

The fields that go in the function are

=PMT(rate,nper,pv)

where:

• rate is the rate of return per period  (interest rate- be careful if it is an annual interest rate to divide by 12 to get monthly rate)
• nper is the number of periods (usually months)
• PV is the present value of the loan (amount you are financing)

so for example if you are borrowing $100,000 at 5% annual interest for 30 years, you'd calculate your monthly payment as

=PMT(5%/12,30*12,100000)

You can do separate calculations for your investors on the down payment vs. the overall mortgage.

Hi Kevin, so far no positive or negative input on REIS.  I have had a few private messages recommending other providers who I'll be checking out in the near future, namely Porch Light and MKE PM.

Thanks Dawn Anastasi . A few people did private message me and also had not heard of them.

Hi all,

I received a recommendation for the Milwaukee property management company REIS Property Management. Their website and services seem pretty decent. Does anyone have any experience with them in regard to managing single families, duplexes, 8-unit plus apartments? I'm looking to manage some new acquisitions, as well as eventually consolidate some other properties under a single management company.  Feel free to PM me if you don't want to post publicly.

Thanks,

Dan

Hi all,

Came across an ad for the Milwaukee property management company 276 Rent  / Orange Avenue Realtors.  Their website and services seem pretty decent.  Does anyone have any experience with them in regard to managing single families, duplexes, 8-unit plus apartments?  I'm looking to manage some new acquisitions, as well as eventually consolidate some other properties under a single manager.

thank you, @Dave Foster