All Forum Posts by: Account Closed

Hi Ben Hughes. Realtors work hard and only get paid if a deal goes through, so it is only fair that you are honest with realtors. If you want to find a few good realtors to partner with on looking for investment properties, that's a good thing. However, just using people to run around in case one of them happens to bring you a great deal is pretty harsh. I want to partner with clients the way Joel Owens described above. I believe you'll get better results in the long run with that approach.

Jason Minnich It sounds like you would be wise to talk to an attorney. Many of them will give you a free initial consultation.

@Steve Babiak, the PM who told me about the interest would wait as long as possible before taking his fees out of the account, then he would take his accumulated fees as well as interest. So, he did eventually get his stated percentage, but he let it ride so that he could get the interest as well. That could explain why Jason Minnich's PM hasn't been taking any payments. But I'm stumped as to how they figure their net income at -$10.

Hi Jason,
How many other properties does your PM manage? If they are holding your rent money with other landlords' money in an interest-bearing account, they could be letting their pay sit in that account in order to accumulate more interest, which they skim. I heard this trick from a PM in a class I took. That could explain why they are not taking their payments.

I think Ryan M. has the best solution here, especially since you live right next door, but that doesn't address your larger problem. You have a choice between putting up with their annoying requests and just accepting that as part of being a landlord, or pushing back and risking losing good paying tenants. It depends on your annoyance tipping point. Good luck!

Absolutely understand the math. The numbers will tell you whether an investment is solid or not. Don't get your properties too scattered because that will require you to use a lot of other people to manage them.

Welcome, DB! Be as careful as you can when screening tenants. Once they are in, it's tough to get them out, even if they are causing you problems. Look for people with steady histories; make sure they haven't jumped from place to place with no real reason for it. Run your lease by an attorney or experienced mentor before you put it to use. Good luck! It sounds like you have a solid plan.

Hi Maurice,
I'm also new. Bigger Pockets looks like a great resource for new investors and experienced ones alike. Welcome!