All Forum Posts by: Jay Leisten

@Deanna Ulino usually your agent will refer you to 3-4 good ones? Pm me for a list.

Theres a few options. Im sure a PVA data search would show where they have picked up land (likely 2-3 different plots) and then start looking for units around them to buy and hold.

Lots of great stuff going on here. Ive lived on every coast and I moved back because of the potential and excellent cost of living.

Good Job Sean! Its important to look back and see the distance traveled. Often it doesnt seem like much at each step.

@Jonathan Farber we are managing 3 now as S8. Our experience has been that the inspectors are inconsistent. Some go strictly by the checklist they give you. Others will look for other things off list to ding you for and even threaten to have you fined by code enforcement. You have to figure out pretty quick which inspector you have gotten. I will say the one that went off script was very good on the second visit where my wife showed her photos of the repairs in progress and of additional repairs that were needed. A lot of the complaints I see online come from combative owners. Some of that probably comes from years of bad inspector experiences. We only allow section 8 if they qualify in all other categories of the application.

Side note the city is looking to pass a new anti-discrimination code, which will make owners unable to deny section 8, if they are otherwise qualified.

@David Lowe pm me the address. This price seems very high for my market. We manage short and long term rentals, and can give you some perspective on what you are really getting.

We are just getting started doing outside management, and Ive been sourcing small multifamily for other clients. some other options if you are looking for larger established PM providers try Property Management of Louisville, Brett Kennedy works there. I havent been impressed with anyone else lately.

this is a great thread. I only have 1 Section 8, and its been fine so far.

@Russell Brazil yeah when someone calls me and says they are comparing my properties represented as c/c- areas to b class in Indy or Memphis this scenario is exactly what I suspect they are getting into.

@Jordan Moorhead on our brrr or near brrr deals I. Louisville I can tells you that 1-2 inspections can stretch the rehab out an additional 2 months which eats the brrrger before you can. An extra 2 months of utilities at 200 per Mo, 2 months hard money interest at 1k a month and suddenly you have to leave 500-1500 in the deal. I’m still pretty stoked about that as long as my partner and I walk away with 75-125 a month income as by the end of year 1 in now net 0 but still bringing income. The reality is anyone who is targeting a full brrr or additional cash above that out at closing doesn’t want to invest. It’s a goal not a mandate.