All Forum Posts by: Cory Lucas

Personally, sorry but business is business, if you don't want the tenants in there then that needs to be part of your agreement to close. They can say no if they're not comfortable or ask for different terms like more earnest money. And/or you could put forth more too if that's something that is a make or break on the deal. But you have to at the end of the day take emotion out and do what's best for YOUR business, not theirs

Those could be pics from when it was previously for sale

Like Nathan said get the ducks in a row. Going forward, highly encourage getting the lines scoped regardless of how you feel they may look or what is or is not disclosed

Welcome Christina! 

You just gotta start talking to people. That’s all networking is, building relationships. You probably know more people than you realize that are involved in the game. Take somebody out to lunch and pick their brain. A realtor friend or something, make it about them, ask things like, “Tell me how you got started in real estate?” Or “What’s been your best purchase?” Just gotta get out there and talk and build relationships 

@Drew Sygit good stuff. I’ve thought about that often, like how much do I want to be paid? If I want $100/hr I should no longer do tasks that are less than that. So when you say many don’t do it right, suggestions on how to calculate that?

 Good stuff Josh. Yeah I don’t use PM other than to help me place tenants, then I manage from there. Was just saying I know PM is something I could look to do to help scale, but I wasn’t sure on doing that since I don’t really get a lot of phone calls or have things that my tenants need that I feel like I can’t handle though that’s worth giving up 10% of my money

Hey BP, I feel I'm starting to get to the point where I need to seriously consider scaling and how to go about that? I am of course incredibly uncomfortable giving up control like I'm sure many others are, BUT I hear the advice loud and clear that you want to work ON your business not IN your business. And to not make it too lengthy everything I've had going the last month has made me realize that I need to do things to be able to step away. I'm a one man show right now and still working full time as an RN. 

So my question to all of you is what things have you done to scale that have made a huge difference that maybe you wished you would have done sooner? Along with tips on doing so successfully would be appreciated. For example I'm seriously considering a book keeper, it's starting to get out of hand and too time consuming, but where do I turn to for that and how much of my financial info do they need? Do I go the Virtual Assistant route for that? 

I have a very good property management company that I use for tenant placement, but I'm having trouble turning that aspect over because I just don't see the sense in giving them 10% of my money when I don't get that many phone calls, but I know that's another part of scaling. What other things could a Virtual Assistant do to help out? Or even hiring somebody that could maybe do acquisitions for me? Any other suggestions/tips?

I don't know, just curious on suggestions others have. I've also thought about joining a local mastermind, I've tried to join the ones here on BP, but haven't had much luck as of yet. Any help/feedback is appreciated. Happy to provide more details if there's questions you have that will help, just didn't want to get too long winded on the post with possibly irrelevant info

@Trist Baylon how's the scaling going? Was researching scaling and this post popped up. Fellow RN in Illinoins

@Matt Devincenzo not much, he was an inherited tenant so I only received $200 for a security deposit. He was paying $500 a month when we terminated his lease. So far in costs I’m at $930 for trash removal, $300 for deep clean, $300 for drywall repair, and not sure what I’m looking at just yet for paint. They’re coming this week, figured I would look to get that covered too if I seek recovery as I would not have been able to match paint where the drywall had to be repaired