All Forum Posts by: Josh C.

@Steve B.

Assuming encapsulation not removal. Your are right removal would be a ton. Probably seal it (maybe not even that) and vinyl over for that price.

@Anthony Wick

You don’t have to be a trained professional to care about people. By that logic you would never do anything but what your college degree or real estate agent if you had a license. Being a property manager I’ve actually had to deal with this so I’ll tell you exactly what I did.

Tenant called us and told us her boyfriend beat her up and threatened to kill her. We told her come to our office and she filed the police report there in saftey. She said she was scared to get her things so I had our contractors bring two pick up trucks and a flat bed trailer. We helped her move her stuff with the protection of four hillbilly contractors and myself. Then took it to her mom’s garage. Two weeks later she moved into a nice little one bedroom place we manage filling another vacancy. The boyfriend got arrested and then abandoned the place. So we touch painted, cleaned and had it rented to new people in under a month.

The owner lost maybe $600 since we kept the SD to credit lost rent and turnover cost. But got new tenants that don’t beat women which is well worth it, plus they were in the second half of their lease anyway so those turn over costs were coming in a few months anyway.

I lost maybe $400 in salary costs for my staff and gas. Plus 2 hours of my personal time.

That’s it. It’s not hard nor do you need to be a trained professional or law enforcement to give a sh’t about people. Four hundred dollars means very little to me. The thank you text and tenant (and she’s referred other tenants) I have for life means much more than a nice dinner with the wife.

These situations don’t come up often so acting decent and helping terrified women isn’t a business decision as they are a fraction of a percentage in the scheme of things.

@Dennis M.

Not sure why it matters how many units Nicole manages, but my company manages 500 and we would be involved and try to do what we could for the victim. This is a people business. They pay rent. You don’t make any money cutting the grass and fixing toilets. It’s the rent from the people. And having a toxic situation like this isn’t good for business. Also, being so cold about someone being killed is why people dislike landlords. We have tenants all the time rent a bigger house from us insisting they stay with our company after staying in our apartment. I actually signed a two year lease on a place that didn’t have floors or bathrooms yet and they believed me it would like the pictures we showed before they moved in them because they trusted us. It’s possible to care about people and make money. Scrooge isn’t the only rich man.

Regardless of that emotional stuff and trying to help where you can if missing a couple of rent payments is too financially straining, as someone else mentioned missing a mortgage payment, you are super under capitalized and need to be in a different investment vehicle.

Haha. I’m sure they’ll sort it out. The phone app was terrible for a while, then they took feedback and updated and it hasn’t crashed once. They’ll get it corrected.

I do wish they had years a member though like they use to. I think I’m close to 10 years on BP. Plus I always trusted others who’d been on here a while a little more than the 4 month guy.

No one has that much money. We are Property managers and also investors. We bought 4 properties this year. Two from the MLS and two from a wholesaler. Last year we bought maybe 8. If your property manager had unlimited money he probably wouldn't be a property manager. There were a lot more than 4 deals in Indy last year. Plenty to go around. And my criteria is probably different than yours. We like big rehabs while most investors want smaller jobs so they can finance everything. We have only one time offered on a house a client later contacted us about. We told them we had an offer on it. They actually went in 5 grand higher than us, the little devils, but either one got the house. So I think it's really a non-issue.

Good luck!

Several good ones here locally. Let us know if we can help. Indy is a great market.

Good luck!

If you the money to “work” for you the long term rentals make good sense. As far as what type of building, I know this answer sucks but it really depends. Where ever you can find a good deal that balances your risk and money. Could be a little rental near you. Could be duplex. Could be a small office building. Really just need to pick a market and start talking to people about what to look for and pull the trigger.

Good luck

What were the shifty maneuvers? Why were disclosures so important to you? A home inspection is typically more important in my opinion.

Not all PM do this. We keep 50% of late fees. 100% seems a little much. I know it’s a lot of work because getting that extra $50 or $100 bucks per contract is hard, but also the investor had to wait on their money potentially. Also, $100 to post a notice? That’s insane. That’s part of property management. I’d shop around and ask for all the fees upfront.

Good luck

Honestly this is what we hate about our Airbnb’s. People have the same hotel 5 star expectations regardless of price or description. I list queen size bed, then get a three star review for “no king mattress.” Our listing say in apartment building on major street. And people will complain about how busy the street is. For a nice little one bedroom for $75 a night. It’s a steal, but they judge it like a $250/night place. I think the really expensive place where you can afford the best and newest or whatever Paul does in the worst town ever is the way to go. We stay in Destin FL each year at a 15k/wk 8 bed place right in the beach with our extended fam each year and it’s amazing. Perfect everything. But that’s in a 2MM home with really high rents so it’s what expected. The value Airbnb that’s decent and clean gets roasted. Every month we debate if the extra money is worth it. I think I’m talking myself out of it right now. Lol