All Forum Posts by: Donnie Tucker

Thank you for the responses. I knew there were other fees associated with PM, and rightfully so, but I didn't know this one was common. Is it also common to not have to notify you of a repair unless it costs over a certain amount?

I have a question if you guys don't mind. My buddy just invested in Akron Ohio long distance from NY. I'm considering doing the same. But he said the prop. management he looked into out there takes a percentage of profits from everything, including repairs. If that's true then what's the incentive to keep the investor's costs low? Is that the norm with prop. management out there? Are there companies that don't benefit from your normal expenses? Any input is greatly appreciated. Thanks in advance

@Todor Ialamov

Making $$$ while trying to make $$$ haha I like it

@Paul Brady

Hi Paul. I've been noticing lots of properties in disrepair lately on my way to work, driving my kid around, etc. So I pull over, get the address, get the owner's info from the county assessor's website, & add the info to a spreadsheet. When I was ready to mail I had 52 properties on the list so I got 100 blank postcards from amazon, 100 postcard stamps from the post office, a google voice phone number (free, which I set to display as the google voice number for all incoming calls and stored that number as "Property Leads"), and a virtual mailbox for a nearby return address.

I filled out the postcards in blue pen on May 9'th & got my first call may 12'th. I called a successful investor I met at local meetups who helped me walk the property (first time for me) and estimate a rehab budget so I can run the numbers and figure out what I can offer in the current market. Turns out he isn't ready to sell yet but may be soon so I told him if it's ok I'll keep mailing him and hopefully he'll let me know when he's ready.

I've been growing the list and I'm going to mail every month. That's pretty pretty much the process. Hope that helps. Good luck

@Casey Coffey The house your friend told you was being fixed up, what was your intent when you talked to the owner? What did you say to him/her? I live in NY, looking to get started here and I see properties being fixed up all the time. Thanks

@Erik R Aho

I'm from LI and I'm looking to get started as well. If I was your age I'd probably be house hacking right now. I can recommend some good books and a good local meetup I've been going to and networking with some successful people. Message me if you're interested. Good luck

@Bonnie Cerruti That sounds pretty bad. Many people seem to have horror stories about section 8 and many others seem to love it. The person who recommended it to me has success with it here, I just haven't been able reach her lately

Also, what areas do you purchase in? Should I be looking in less desireable neighborhoods? And do you BRRRR section 8 properties or just look for light rehabs? Thanks

@Samuel Diouf Thanks for the reply. I decided to start locally because I've never purchased a property before. I want to know what I'll be missing before I go out of state. As far as tenants destroying your property, can't that happen anywhere? I'm reading that section 8 tenants would be less motivated to do that because they want to keep getting their rent subsidized.

@Paige B. Thanks for the advice. That's a good idea, I'll try to do that.