All Forum Posts by: Derek Andrews
Derek Andrews has started 2 posts and replied 11 times.
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Originally posted by @James Hamling:
Thanks again for offering a wealth of advice! Just waiting for the washer and dryer to get delivered and then I'll be off to the races (hopefully)! If you ever write that book, I'll be first in line!
Derek
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Originally posted by @Drew Sygit:
@
Thank you for being thorough on breaking down the rental options. Your Pros/Cons list was straight and to the point!
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Originally posted by @Christopher Sineno:
I
Thanks for reaching out Christopher! You mention a point that I agree with. If the property was paid off I probably wouldnt worry about the 10% monthly.
Wow, all of you men and women are a TREMENDOUS help!
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Thanks Ron. The varying state to state guidelines are something I have to consider as well!
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Originally posted by @James Hamling:
First off James thank you for your input. The advice from everyone on my issue has been overwhelmingly appreciated! And thank you for outlining a view point opposite everyone so that I sort of see both sides of the coin.
As stated I have zero real estate experience, but I'm certainly no stranger to hard work and dedication. I would never go as far to say PMs dont serve a purpose (I have no knowledge to reference on the matter lol). In all honesty, had I put down a large down payment I wouldnt have any questions with a PM initially because I'd be clearing some sort of take home monthly. I'm definitely analyzing all the info you all are sharing with me. Because after all, to me, all of you who've responded have the level of success that I'm trying to achieve in this field.
Thanks James!
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Originally posted by @Levi Bernard:
@Derek Andrews Definitely do it yourself if you can. Every one of my tenants I found has been through postings on Craigslist + Facebook Marketplace. Usually, I get many to choose from. Just make sure they can prove they make money some money! TurboTenant.com is a great site to checkout
Thanks Levy! I guess at times a PM can be pretty impressive into making you believe that you need them to do a job that, with just some hard work, can be done by yourself. Appreciate the advice buddy !
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Originally posted by @John Warren:
@Derek Andrews if you are going to self manage then you absolutely should place the tenant yourself. I still manage 32 doors out of 58 here in the Berwyn and Cicero area, and I can tell you that the LAST piece I will give up is leasing. If you get a great tenant, it solves 90% of your problems in this business.
John thank you so much for your encouraging words! With no institutional background in real estate I was just beginning to think if I was being a bit too eager with being completely "hands on."
Post: Use a PM to find a tenant vs DIY
- Posts 11
- Votes 2
Greetings. I have a single family home that I want to rent. Using a PM to manage the property isnt preferred (because I'll only break even, literally). My plan was to just use a PM to find a tenant (and they'll take the 1st months rent as payment). Im uncertain if I should use the PM for this or search for a tenant myself? I literally wouldnt know where to start.
Thanks
Derek