All Forum Posts by: Daniel Sabato

I’ve got a 1-year contract with my property manager & then after the year expires it becomes month to month automatically. I want to get a new PM earlier though because the current PM is horrific. They take forever to respond, cannot secure contractors to make repairs, & their general lack of urgency is a major issue for me. I’m wondering what the laws are for situations like this? Do I need to get a lawyer for this separation or are these things that happen all the time & I can just let them know that I’m going in a different direction?

The time has come to part ways with my current and first property manager! They're unresponsive and the complete opposite of being proactive. When they fix things it appears they put bandaids on leaks and the same problems continue to occur, even though I am always authorizing them to fix things to perfection and spend the extra money, I want to take good care of my tenants and my properties. I have to request my rent payments every month, they never send automatically. Anyway, the reason for my post is I am investing remotely. I am across the country and my concern is that with firing the PM, they can really make this transition difficult and costly for me , if they wanted to. In a perfect world they act as professionals and we don't have a problem, but I like to prepare for the worst. Does anyone have any tips on how to navigate this process, outside of the obvious? Any personal experiences or stories that might be good for me to hear? Much appreciated!

@Eric James Yes of course!

@Kevin Sobilo Obviously , I would never purchase a home before having every penny accounted for. Meant more along the lines of whether you need an architect or a GC or where to go first.

Hey Guys! With the housing market being absolutely crazy right now I am still looking for a primary home. I have a chance to purchase a home that is beautiful outside, amazing property, great neighborhood, best schools in the state, but the inside is totally gutted. Assuming everything on the inspection side checks out, where would I start with this home? It’s so overwhelming to think about but I am up for the challenge if I can make it work! Any advice would be GREATLY appreciated!!!

@Supada L. Already spoke through direct message with the poster of this thread but figured Id mention it here for everyone else. I’ve got no personal hate toward Roofstock & I actually was singing their praises initially. However, I purchased 2 properties through them a year ago. Though the process was easy & they seemed like great deals, I’ve had nothing but issues with them. Dozens & dozens of small repairs that have really added up (Part of life I know) but that hasn’t been the case with my other purchases. Also, major foundational issue on one property which roofstock provided FIVE inspection reports for, none of which said anything about it being an issue. Anyway, be careful when buying from them. I’d hire an independent inspector & appraiser before purchasing from there because they very clearly do not do their due dillegence or care about it once they’ve sold the home.

Hello everyone, I was wondering if anyone had experience with getting out of contracts with a PM. I have a 1 year contract with them & then after the 1 year it becomes month to month. I read it all the way through front to back & it never mentions if either party breaches the contract early. What would happen in that situation? Has anyone dealt with this before?

Daniel

I am really struggling to find deals right now. Everything I see just feels way too overpriced & I’m very disciplined with my evaluations. Right now nothing is fitting my numbers. Is anyone successfully acquiring propert right now? If so, where? I’m looking all over the country & striking out big time!

@Charles Carillo Good point Charles. Funny you responded because Florida is the state I’ve been spending a lot of time thinking about. Florida seems like it could be the safest state for investors & capitalists in the future.

With housing at the forefront of most political debates these days I’m sure we’ll some changes with this administration in regard to real estate & how it might affect investors. What states are looking favorable for the next decade for investors & rental property owners?

I’ve heard of some cities like Seattle considering outlawing the use of credit scores & criminal history to vet tenants. These are terrifying changes for me & I love having these discussions & hearing different perspectives from people! Thanks!