All Forum Posts by: David Clinton III

Hi @Carlos Pineda, are you local, or investing from afar? Let's get on the phone... I'd be happy to share my experience and point you toward a trusted local attorney that can help you out.

@Jacob Stewart, would love to hear about it. Wanna grab coffee Friday? 

Regarding building a long-term relationship with your PM, that's also an excellent thing to keep an eye on. Sometimes it is wise to make a business decision with the relationship in mind, even if it costs more. However, the right PM will understand if you want to manage some of your own doors and learn how to do it. It doesn't have to be an all-or-nothing situation. Talk it out with the PM, and decide which 1 or 2 buildings you want to manage and continue to use them for some. If your long term goals are aligned, they will be interested in your profitability in the future as well as their own.

@Alex John, excellent questions and analysis!

A lot of nuanced things going on here. 

From a business standpoint, it's a good idea to charge & pay yourself management fees when you are self managing anyway.
• A bank will factor in management fees, even if you are self-managing, from a risk standpoint if they ever have to take it back.
• If you decide in the future you want to outsource once again, your model needs to be able to handle the load of market-rate management costs.

When I started out, I outsourced management from day. I knew this was an adminstrative task I did not intend to do long-term as I scaled. As I have taught many of my students, I regret this decision. Here's why:
When my property manager went from good to mediocre to bad over the years, and I was continuing to grow, I had to take everything back in-house. The problem is, I never learned how to manage my own units. When growing this as a business, I believe it is wise to know how to do every aspect of it, even if you intend to outsource those aspects. Not that you need to do these yourself, but you want to know in case you must. When I suddenly had to manage 30 doors myself, I was overwhelmed and frustrated. I figured it out, but my advice is to manage your first ≈5 yourself. Learn the ropes, and outsource it after that.

Hope this is helpful!

Hey @Timothy Chi, I'm a full time investor in the Spokane area and have met dozens (if not hundreds) of agents. I can count the number I can trust and would recommend, though, on one hand. I'm happy to chat further on the phone and help direct you to the person that would serve you best. They each tend to have a specialty they are best at; let's discuss your goals and I'll connect you with the right person.

Hi @David Braut, the problem here isn’t the size of the town per se. Idaho is a “non disclosure state”, so many of the list sources that scrape data cannot find good data to source from. 
Best thing to do is create a relationship with a local title company. They have the true data. They will sell you “farm lists”; this is usually aimed at realtors. 
if you’d like to chat more about real estate investing  in North Idaho, let me know!

Hey @Blake Thompson, I'd be happy to meet up. If you call my office below, we can put something on the calendar that fits for us both when you're in town.

Welcome @Randall Brooks! I look forward to seeing some great stuff from your projects!

Hi @Brian Liddy, I can't speak for Boise, but Spokane is a great place to invest. I've been a full time active investor for over 6 years here, and the market still seems strong even with the covid-mania happening. I'm still buying, holding, and selling here. I have looked in other areas, but am still kept too busy with good local deals! If you wanna get on the phone and chat more, I'm happy to.

Hi @Michael Lao, welcome to Bigger Pockets! I'm happy to chat about local Spokane real estate if you ever want to schedule a phone call, and if you're ever in the area to visit, hit me up and we can grab coffee or lunch.