All Forum Posts by: Dave Poeppelmeier

@Sean Grady, as long as you are running your own numbers are are able to negotiate then yes have a Title company coordinate with both you and the sellers. If the Sellers are adamant about not paying for a Realtor, and you feel you need the guidance, offer to pay the Realtor a fee yourself. That way you get the guidance for you and a professional handling the paperwork and coordinating with lenders/title/etc. Just figure that number into your costs for closing the property. If the sellers are completely jaded for some reason and refuse to work with a Realtor at all, then like @Michael Carbonare said just get a recommendation on a Title Company from a fellow investor or Realtor and coordinate with them. 

@Nick Sandoval, there have been much worse times to sell than now. If you're happy with the equity you're going to pull out and not second-guess yourself if the market keeps climbing, then do it, especially if you feel the property is more headache than it's worth. I'm actually selling a couple of mine for that exact reason, take care of some debt with the free money the government is printing. But, that in itself is another discussion...

It all depends on what you want to do. If you want true turnkey, you're going to pay for it, and for the love of God fly out to see it. I'm trying to get a client of mine out from under being sold a "turnkey" in a D class neighborhood that's been nothing but problems. So spend the money on a plane ticket, have them show you different parts of town that you have discussed previously and then make a decision. Otherwise, a good Property Management company can also point you in the right direction with Realtors to purchase the property, resources to improve it if needed, and to manage it for you. You just really have to do your homework of you're investing from afar. 

Hi Surbhi, I guess there's a lot of questions to unpack here: Do you currently own property? Have you worked with Property Management before? You need to know what to look for in a PM company: Do they have their own service staff or are they subcontracting everything out? Do they answer the phone? Do they have a website for tenants/owners/etc? What are you willing to pay? Are they actually licensed or is it just a Realtor/Investor saying "Hey, I'll manage your property!!!" If you're interested in Toledo OH, let me know and I can tell you more about the area and how PM works. 

@Axel Meierhoefer Like what has been said multiple times, as long as your numbers work for you, who cares how you acquire the property? If it truly is turnkey, you're not dumping money into it yearly to fix things that should have been fixed initially by the turnkey, and you're cash flowing/returning what you want, then you're golden. Unfortunately, we have seen several turnkey customers that end up coming to us for PM to help unwind the mess they wandered into or were deceived into. So as long as you're vigilant on finding proper companies as you enter into new markets, go for it!

Hey everyone in the Student Housing world, how is leasing going for next school year? Ours is starting up in the next few weeks with everyone coming back for spring semester and I was just curious to see what others are seeing around bigger colleges/universities? Thanks!

Hi Brian, if you're looking anywhere in NW Ohio, I highly recommend Shannon George at Croghan Colonial Bank. They are a local lender that I have used several times myself as well as some of my clients as well, especially if you are looking at bigger MF. Let me know if you want to get connected. 

Yes, I would definitely call Maumee a suburb. That and I completely agree with @Christopher Abele, $60-80k will buy you a duplex in a C-class Toledo neighborhood, but it will likely need work and full property management if you're not local. But, it is possible and people love duplexes in Toledo for a reason: they cash flow very well.  

This is where I would ask my attorney. Who knows what the laws are in NC vs UT, etc. I prefer to pay for that advice rather than make a big legal mistake that might help someone pierce the veil of the LLC.

Yes they are. You can still evict if they violate any other terms of the lease, but if it's purely financial then it's very difficult to have the courts approve an eviction anywhere. That just makes screening your tenants that much more important, as well as looking at what property class you're buying/own in.