All Forum Posts by: Brian Corbett

1. Find a property manager that is also a property investor.  If they are, then they should understand the owner side of the transaction and bottom line at the end of the year.  If they don't own property, MOVE ON!!  THey are simply in management for the money and you will likely get picked apart each month.

2. Find out if they consider the maintenance as a profit center of their business.  I do not make any money on maintenance for any properties that I manage, but most do.  Seems to me to be a bit of a conflict of interest.  Just my personal opinion. 

3. Make sure they do full checks on potential tenants that apply and don't just rent to the first person with security deposit and first months rent. 

Some other questions:

Do they hold money in reserves?  If so, how much?

What are their maintenance limits before notifying a property owner?

Are there any other fees outside of management fees that may be owed by the property owner?

When are property owner distributions sent?  How are they sent?

Hope these help! 

@Mark Douglas Congrats on being in your position at the age of 23!! Keep plugging along, even if this deal passes you. One method that has worked for me is family and friends willing to invest with me on a project by using their capital for down payment and improvements while I hold the financing. The "skin in the game" for me is the 1st mortgage on the property. I can get this financing from a local bank that does in house approvals/underwriting and they do not ask where the down payment or improvement money comes from. As long as the deal works with ARV, equity, and cash flow then you should have a slightly easier time putting these deals together. Keep working and you will build your business!

Online webinar?

I agree with @Brent Coombs reply.  Don't rush into a purchase just to have a purchase.  Find the right property, not the perfect one, and then make your investment.  It is important for success to make the right decisions as you build your portfolio.  Having equity when purchased allows for easier leverage with lenders and better cash flow in most markets. 

Doesn't sound like a bad deal for the Greenville, NC area assuming it is an area that can justify $600/month for a 2/1 and still get quality tenants for a 1 bath.  Very possible here but some pocket areas will be more difficult than others.   I would also consider this a good return if the numbers are accurate and you don't have to put much money in it for the next couple of years.  

Hey Matt, I am a Pro member, Realtor, Investor, and Property manager that lives in Goldsboro, NC.  I will send you a PM and maybe we can meet up sometime.

I am a property manager/Realtor/Investor in the Greenville, NC area. 

Not a bad idea.  I am really wanting a more automated system if possible.  May not be feasible at such a small level.

Hey everyone,

What post card companies do you recommend for small batches (5-10/month)?  I would like to market to tenants that are 120 days out from lease ending dates and want to automate that system.  Thanks for the help and advice.

Call The Jones Law Firm at 252-758-1212

I use them for all of our real estate closings.