All Forum Posts by: Cameron Tope

We take our monthly management fees (and any other expenses that occurred) out of the rents, then make the monthly distribution to the owner. 

PM companies vary so asking them how you get your distribution, and when, is important. 

Best of luck!

Detrick,

As @Wale Lawal stated, Houston is a great market for long term investing. 

The pitfalls I see investors make are not having enough reserves when issues arise (HVAC, storm, etc.). 

The most successful investors we work with buy solid properties in great areas, reinvest all the cashflow and repeat. After 5-10 years they've made money on cashflow, appreciation, tax benefits and debt paydown. 

I think we can all agree, we're not going to see the double digit appreciation we saw in the early 2020's. 

Having some extra cash reserves over the next year or so, would be prudent IMO. 

All the best!

Hey Kiefer,

In Houston, per the monthly HAR report, the average DOM for a SFR is just over 30 days.

Your management company should hit that figure, if not beat it. 

If you're using a professional PMC, then there shouldn't be anything you need to do. However, if you're using a discount company that's allowing you as the owner to set the rent price, approve or deny apps, etc. then your issue could be one of many things. 

I hope by the time you read this, the property is already leased. 

Best of luck!

 NARPM to find a property management company. https://www.narpm.org/about/why-use-a-narpm-member

For complaint purposes, in Texas, you could file a complaint with TREC. 

Best of luck!

Best place to invest is where you currently have a competitive advantage, or where you're willing to put in the work to create a competitive advantage. 

Best of luck!

David, 

You may find a 0% down loan but remember this will make your monthly PITI much higher - meaning it will be harder to cash flow, especially at 7% interest rates.

IMO think a little bit about your long term goals and what you want out of your properties. 

Best of luck!

John,

As with most things, it depends on your goals. 

If you're looking to aggressively grow your portfolio, then I would put as little down as possible (hoping that you're not planning on living off the rental income any time soon). 

However, if you want 3-5 fully paid off houses in 20-30 years to supplement your retirement, then putting a little more down makes sense so you're not having to fund the property out of your personal cash flow. 

Hope that helps!

Hey Hank,

I would start with companies listed on the NARPM website. 

And IMO, stay away from larger multi-city or multi-state companies. 

We get a lot of owners from larger companies that complain out the lack of communication. 

Best of luck!

Cam

Good afternoon Sumiya, 

Unfortunately, we hear this often from clients that had a larger multi-city or multi-state PM company. 

I would refer back to your owner agreement and hold their feet to the fire. 

If you're looking to transfer companies, then I would start with NARPM. 

Hope that helps

Cam

 The property is professionally cleaned after we're done with any make ready and if we don't get it in the same condition after the tenant vacates, we charge the tenant the entire amount to get the property back to show ready. 

We also (at the owners expense) usually send a cleaner a day or two before move in to clean the property from all the showings so the tenant walks into a truly clean property.