All Forum Posts by: Ben McMahon

That's good feedback. I think part of the struggle comes because there just doesn't seem to be that many good deals, so I tend to want to squeeze the ones I get my hands on. Anybody else have that problem?

Im sure this has already been discussed at length, but why not ask the question again.  When does it make sense to wholesale a property?  To my knowledge I think I have only done it once or twice.  Whenever I see a deal I always go to the point of making the most money on it. 

I am probably in a different place than some because I have a company capable of doing the full rehab and resale.  I am just wondering what other people's experiences have been here?  Thanks

@Christine Mwai

I am a property manager.  I started managing property because I knew other people didnt want to do it.  The reality is that its helpful to have a buffer between owner and tenant.  If the property management firm's hands are tied, than the tenant can't do anything.

My suspicion is that the tenant is either 1) looking to see what more than can get out of you, or 2) Is the type of person that just wants to be listened to.  There are a lot of lonely people that work crappy jobs and they want to exercise some dominance over someone or something they think they might have control over.  

Obviously, as mentioned by @Mindy Jensen if its something that needs to be addressed, than you do it.  Everything else is covered in the initial walk through and lease.

I am not just plugging property management because thats what I do.  I often go and visit properties that I own, and the tenant has no clue.  They think I am just another property manager and they aren't able to make a case with me because the company offers a buffer.

@Dave Meyer Thanks for being a part of this great industry!  When I first joined BP I was getting questions answered, and looking for deals.  Currently I find myself being more useful servicing other investors through my knowledge and experience.  

How would you suggest I use the marketplace to properly market my SERVICES?  Most of what I see are the deals, but my specialty is Property Management, Construction, and a ton of free consulting.   I would like to grow my business in these areas while I continue to invest.  Thanks for any insights.

At the time, everything was cheap.  I just wish that I had been in a position to buy more at the time.  It was on the market.

@Elizabeth Nourse

My best deal is still my first deal.  I am about an hour from DC

Bought a townhouse in 2011 for 52k with next to nothing in repairs.  I think 3k initially.

No deferred maintenance

Rents for 900 a month, and today its worth 125k

B class - never a problem renting it.

Haven't seen anything like that in a long time.  I wish so badly that I had been a full time investor than.  

I switched from Appfolio to Buildium.  Both are good.  Appfolio was a little more expensive and a little more complex.  Buildium seems to be really good.  I like especially the customer service.  We have been using it for about 4 months now.  I used appfolio for a few years

@Melissa Gittens

For sure get the property management software.  It will change your life.  I have used both Buildium and Appfolio.  Both are good, but you can check out the reviews.  

We are also growing our property management, and the systems are critical for that process.  

@Mark Bourscheid 

I started in the same boat, except I went full time investing almost immediately.  I found it to be totally worth using your license on the buying side, but not as valuable on the listing side.  There are agents who do a much better job marketing your property than you can as a new agent.  Most likely you can get a reduced rate since you are an agent.  

At the end of the day, I just started my own brokerage.  Now I have 4 or 5 other investors that hang their license with me, and we are all on the same page.  It works out well because the deal flow is all investors, and you don't get the same thing at the standard brokerages. 

Side note, it feels really good when you are closing on an investment property and you get a check from the escrow agent for representing yourself.  It actually makes going full time a lot easier if you are getting paid as you go.  Depending on your market, your broker splits, and your investment price points, you might be able to just game plan one deal a month, and go full time sooner than you think.  

I currently own and operate a small PM company in Virginia. We are growing, but at a slow rate. I have capital to purchase a PM Portfolio, and I am looking primarily in VA since that is where we are licensed. However, Maryland, DC, and West VA are not off limits. I have a great team in place now, and I want to maximize our abilities and systems. Please send me what you know about.