All Forum Posts by: Casey Sung

@Alan Pederson I'm inspired. I think I'll but a property next week to get my investment fix :)

I can appreciate both sides of the argument about property managers. I live in NY so have to invest out of state because deals are hard to come by where I live. If not PM, how does one go about managing REI out of state?

Hello.  I plan to be in the Lehigh Valley area on Saturday aftrnoon 9/22.  I'd love to meet with fellow REIs, Brokers, PMs, Whole Sellers, etc., if you're available.  My goal is to get a sense of the area before buying MFRs/SFRs.

PM me if you want to connect.

Cheers!

To those who live in or invest in North Carolina.  

Our hearts and minds are with you.  May your recovery be speedy.

- Those of us in the BP community.

@Chai Jonn, I've been researching the same. From what I understand, a Solo 401K has less risks than DSIRA. In the case of the latter, a single mismanagement can result in the dissolution of the IRA. Also the IRA is vulnerable to certain lawsuits where as the Solo 401K has better protection. There are also limits to how much you can borrow from one or the other as well as other nuances. I'd look in to the differences more carefully before combining them.

@Colby Mulry this likely won't help your current situation but it might help alleviate future issues. I build in a reward and penalty in my lease. If the tenant pays on time or early, they get a discount. If they pay late, they pay full rent plus late fee. The spread can be substantial to both tenant and landlord. My tenant has never been late. The discount is built into my cashflow. But then I only have one rental property at the moment. Hope this helps.

Property Managers, do you manage your online reputation? Just Google your 'company name review'.

These days, I believe the quality of your online reputation is critical to your business.

As a new REI, I've been researching property managers to add to my investment team. I've done the Google search and asked for referrals. I found it a challenge to find Property Managers in my area of interest with stellar online reputation. Is this an issue related to the nature of the work they have to do?

If you're a PM, would you mind sharing your insights?

P.S. I'm searching for PM in Atlanta and Philadelphia areas.

Hi @Matt Von Bargen. I am in NYC area as well. My goals are similar, currently looking into areas in PA. Let's connect and share ideas. Cheers, Casey

@Dave Foster great analysis. Thank you for the valuable info. It helps me to conclude why BRRRR strategy seems to be the best approach to REI.

Hi @Nina Hayden. I'd love to get schooled on the Austin market. I've settled on PA area as I'll one if the markets and am looking for two more. TX came up a few times in my research. Open to SFR/MFR. I would need PM support.