All Forum Posts by: Darrell Boazman

Hello, all and happy investing !!!! 

I am looking for an attorney who deals with appealing property taxes. I pay annualy approximately 21k (19 properties)  in property taxes a year and it's eating me up.  Any help would be appreciated.

Honestly , I have had bad experiences with PM. 
Either payout wasn’t right , horrible tenant selections ( I started requiring them to bring me the cream of the crop and I decide)  I tried 2  different pMs. The first experience they select three tenants for me. Those three one caught my house on fire and I ended up evicting 2 Tenant. This is within one year after I hired them. The second Property Management company I never could understand the payouts and the payments was never correct. It seems as if they intentionally made the breakdown of the payouts difficult to understand. I’m in the process of managing 18 units and have a full-time job. However, with Software to make it easier to manage properties efficiently has helped tremendously. I have decided to hire and train someone to manage my properties. The issue there is that you have some people that just don’t work out and some people you have to let go. So I started creating an on boarding system where I have recorded videos and documents and protocol of how to run business. And I require whoever I start training to view these documents in my Google Drive. So I don’t have to reinvent the wheel every time I hire a new person. Some of The pros  there is that I see my money first, and then I pay out my 1099 employee. 

I offer washer and dryers on the lease term basis. Even though majority of my units have washer and dryer connects I give them the option if they don’t have their own to lease one.

The cost of a washer and dryer from Home Depot, including hook up is around $1100. Approximately so I will charge the tenant $100 no refundable fee for delivery.(Home Depot will deliver the appliance with the purchase and hook up for a minimum fee,.) I lease out the appliances 37.50 per appliance. So first year I made $1000 on my initial investment.

hope this help

I offer washer and dryers on the lease term basis. Even though majority of my units have washer and dryer connects I give them the option if they don’t have their own to lease one.

The cost of a washer and dryer from Home Depot, including hook up is around $1100. Approximately so I will charge the tenant $100 no refundable fee for delivery.(Home Depot will deliver the appliance with the purchase and hook up for a minimum fee,.) I lease out the appliances 37.50 per appliance. So first year I made $1000 on my initial investment.

hope this help

@Kim Meredith Hampton

Hey Kim, Thanks I can see you have done this way to many times! lol

Expenses no more than 30-40% of annual gross rents. ( This is including insurance and property taxes as well correct? Not to include the debt service? )          

Hello Bigger Pockets family,

I am looking to purchase my biggest deal yet!

24 unit apartment. I never looked into a deal this size. So making sure, I nail it, I wanted to reach out to the community to see what data I should request to make sure I come up with my NOI to properly calculate my CAP RATE...

This to request:

Income

+Rent Roll 

+Leases  ( When under contract)

+Tenant Estoppel Form (While under contract)

Expenses
(They sent me Profit andd Loss Statement) I asked for an expense report but they manage there on properties and Im questioning the expense report they sent.....

+I do not see expenses for garbage, lawn care so this raised more questions.

What they do have is maintenance , repairs and taxes.

For example, is asking for a Schedule E tax return to much to request ( to make sure I am accounting for all expenses.)

The properties are fairly newer built 2005  so i dont expect for Repairs to be as much as well...

Any information wouldd be helpful