All Forum Posts by: Benjamin Pekarek

Realtors as a whole think all landlords are just THAT stupid. Go figure. Had a commercial RE agent tell me that I didn't have permission to set foot on the property until after I'd closed!

Alex,

We handle Hillsborough, Pinellas, Manatee, Sarasota, Polk, DeSoto, and Highlands counties. For one unit, our pricing is a little high (5% leasing fee + 10% for management), from 2-50 we charge 5% of lease and 5% of collected for management, and for 50+ we halve that to 2.5% of lease and 2.5% of collected for management.

Call, or PM if you have any questions.

 John,

Under Florida law, unless the unit is your personal residence, you are legally jot permitted to make ANY modifications to the unit. Other than changing lightbulbs, mowing the grass, and cleaning, everything must be done by a licensed and insured contractor.

I found this one out on my first personal rental - got fined & red tagged because I was doing the demo myself. Had to have a general contractor come in and complete the demo, and then start the full rehab.

-Ben

Nich,

You are going to have to establish yourself as an ethical property manager before anyone will look at you twice - that and keep your pricing competitive, and you'll never have problems with getting or keeping clients.

When I first started in this business, the unethical broker I worked under had us charging 10% with a $75 minimum, and half a month's rent for leasing.

When I started my own brokerage, we switched the fee sttucture to a 5% leasing fee amd 5% management fee with a $50 minimum - and we release for FREE if the tenant vacates or is evicted within six months. The volume has more than made up for the difference in our fee structure, and our owners aren't going anywhere.

The biggest "value add" of a property manager is two fold: treat the property like it is your own, and don't treat your owners like your private piggy bank. In the state of Florida at least, the laws have become so anti landlord it isn't even funny! Unless the property is your homesteaded main residence, in your personal name, you can't do more than change a lightbulb or mow the yard! For us, what keeps our clients renewing is our list of truly PROFESSIONAL, licensed, insured, and BONDED vendors that we NEVER mark up - this goes back to the piggy bank mentality - volume will get you paid - milking an owner with the "nickel and dime" mentality will leave you with no properties to manage, and a crappy reputation.

Treat your clients like gold, and they will not only stay with you, but tell all their friends.

-Ben

I was with Exit when I firsted started out, and my mentor is KW all the way. If you plan on solely doing residential sales, KW and their training is the way to go, otherwise, NEITHER! Find a small brokerage that the broker doesn't take everyone who comes through the door (desk fees are that kind of brokerage's income stream), and ask what kind of training they provide. I'd much rather be under someone's wing, than have all the training from KW.

@Joy

Property management and RE sales are the same license, but that is where all similarity stops. I've been doing PM for 10 years, and in that 10 years, aside from my personal properties, I've only closed about 50 sides. Look into an All County franchise (if there's one in JAX) - they aren't allowed to do any sales, strictly property management, and are a great starting place for a new investor, and a new agent. Good luck!

Also @Martin S.,

Tim Jewell is an excellent maintenance man - one of the many I use 941 237 8014 - two security lights would be in the $250-$400 land - not $600.

-Ben

@Martin,

ALWAYS get a licensed and insured contractor, and ALWAYS have your landscaper pull a permit! I use three different landscapers, but for tree removal and stump grinding, I use Rick Walker and his son Adam. R.A.W. Tree Service (Rick) is 941 302 0830, and Adam's Stump Grinding is 941 993 9967. If you use my name, you'll get the discounted price, and no, I do not get a kick back. 

Grind the stump out, and leave the roots alone - don't screw up your foundation with a fire - contrary to popular belief, cutting your nose off will not enhance the overall beauty of your face!

Good luck!

-Ben

Welcome to BiggerPockets Tim! 

It's been three years since I was last part of an roundtable, but you and your wife were always incredibly well informed - I'm looking forward to seeing what insight you'll bring to the forum. 

-Ben

Since you're referring to the stop off point between TPA and OIA, I'm going to assume Lakeland, Auburndale, or Winter Haven. Polk county is famous for running up liens, and settling them for what they can get when the time comes. I would settle the county lien for whatever I could get it at, and hold it until the D.O.T. comes knocking to purchase. If the property was in the process of being demolished, I'm assuming that the mortgage holder would be thrilled to get whatever they can get. 

If the highway never comes through, I have the main house, plus the duplex (an effective triplex) to rent out at $1.00 PSF for the foreseeable future in an exploding rental market.