All Forum Posts by: Bill Manassero

@Dean Ho Welcome to BP!  I also live in Mission Viejo, am an out-of-state multifamily investor and host a real estate investing podcast.  Could grab coffee some morning if you're interested.  Just let me know.

Best,

Bill

@Byron Dye or feel free to text me at 949-324-1820

Hi Byron,

I would like to know more.  email me at [email protected].

Thanks.

bill

Hey Jay!

Highend AirBNBs generally do well in high demand resort type areas.  If you are not going to be in the area while it is being leased, I would recommend finding an experienced co-host in the area that can carefully monitor things and help keep your AirBNB rating high.

You can find a lot of experienced co-hosts through AirBNB and usually only need to pay them 10% of the guest fees.  They help screen guests, check the guest in and welcome them to the property, provide good customer service and will clean or oversee cleaning between turn-overs.  Believe me, they are worth the money!

I hope that helps.  I operate 3 AirBNB units.

Best,

bill

As an old dawg that is newly retired, my advice is that whatever number you come up with for your monthly needs -- DOUBLE it!  It's what I call the "Old Dawg Principal!"  Plan for things you can't even imagine may happen -- expenses that weren't even on your radar!  You'll be much happier!

@Stone Teran  Here are a few ideas for your consideration (from a member of your target audience - an "Old Dawg"):

1. Introduce a referral program for your existing tenants where they get a free months rent, restaurant gift cards, etc. for referred tenants who sign a one-year lease.  They can often be your best source for "good tenants."
2. Buy a targeted mail list of baby boomer home owners in your area that are in their 60s and 70s and do a direct mailing to seniors in the area, promoting your community and/or invite them to an event at your facility.  You could also focus on the great financial advantages of renting/down-sizing (travel more, no more yard to care for/repairs, buy an RV, visit family more)
3. Host a senior-focused event at your facility (maybe show an uncut version of Woodstock haha) or live music, a Social Security expert speaker or Doctor to address health issues, a fund-raiser, art show, etc. and hand out flyers with a special "one month free" coupon attached 
4. Have exercise classes for seniors
5. Weekly bingo nights
6. Promote your events for free on community calendars, newspapers, seniors sections of papers
7. Print door hangers and get some kids to hang the door hangers at trailer parks, older communities
8. Encourage your current tenants to invite friends
9. Rent a 15-passenger bus ($50) and offer free transportation to key events
10. Sponsor events at senior centers in the area
11. Co-Sponsor service club (Rotary, Kiwanis, etc who have many senior members) events
12. Put up banners and balloons when you have events

I hope at least a few of those ideas might spark some interest.

@Jack Barkow  It looks like it could be a decent investment but I first would phone survey the area.  Call similar fourplexes, duplexes, etc. to find out what actual rents are and find out how many cover all utilities.  If you could off-load the utilities back to tenants that would help tremendously.  The easiest way would be through a RUBS program (if allowed in your area).  

A little more costly, but worth it in the long run, would be converting to separate meters for the units.  You could covert to all-electric at first and have the tenants only cover electric.  You could lose the radiators/boiler and go with electric side board heating, too.  Later, you could introduce RUBS or a shared water bill program.

Hey Fellow BPers!

I'm looking for a good all-around handyman in Indianapolis that can help me do some light rehab of a couple of units in my apartment on E. Washington St.  Do any of you have some good referrals of people you have actually worked with that are reliable?  I'm not doing so well with Angie's List and Homeadvisor.

Thanks.

bill

Manassero Properties, LLC has an excellent opportunity for the right person to help us achieve our goal of 1,000 units by 2020. As the Executive Assistant, you will work directly with the company founder and learn real estate investing from the ground up while you help us organize, develop systems, market and achieve our aggressive company goals. You will also assist us with our weekly real estate investing podcast.

We are looking for a goal-oriented, self-motivated, hardworking individual who is not afraid to "do windows" to get the job done.  The ideal candidate is eager to learn real estate investing and willing to roll up their sleeves and take on new responsibilities as the company grows and fulfills its vision and mission.

The company founder is recruiting the first employee, an executive assistant to be involved in all aspects of company operations from day one.

@Jacob Prelle Hi!  I'm from Orange County also (Mission Viejo).  I invest in primarily in out-of-state multifamily properties.  Providing you have reserves, and the full $100K is only for investment, I would buy a multifamily (12-35 units) out-of-state that has a value-add proponent.  The right property could bring in close to half of your goal.  And if you do the light upgrades, reduce expenses and increase income, you'll boost your equity to be able to do a cash-out re-fi and purchase another multifamily property or sell the property to buy an even larger property.  You'll get to your goal sooner by buying larger multifamily properties and by buying smart.