All Forum Posts by: Enrique Jevons

I used to have over 20 Section 8 tenants, but am down to 12 now. I've stopped taking any new ones as I've had the same difficulties as yourself. So through attrition I'm letting them go. Working with the government can be very frustrating. Our local housing authority is severely understaffed, so it makes it even harder to work with.

I don't think your missing anything. I would definitely recommend keeping the existing management company. Later you can shop around to see if you can find a better one. But change always brings about anxiety for tenants, so best to keep things stable while the tenants get used to the new ownership.

I love using my lines of credit.  I have one on my personal residence, one on two little rental homes, and one unsecured line of credit.  The rates all vary, with the unsecured being the highest interest rate, so I use that one last.  

I chose to get a line of credit on two single family homes valued at only $60,000 and $80,000 rather than going for traditional mortgages as the origination fees were much lower and a full appraisal was not required. 

Over time, I've been able to go back to my banks with the lines of credit and obtain better rates and higher limits.  I've found that building relationships with the lenders has proved wonders.  And, I've learned it never hurts to keep asking for better and better terms, without having to go through the trouble and costs of refinancing.

Fantastic job!!!  Thanks so much for posting all the pictures.

Looking forward to it.  I'll be there.

I lent a flipper $40,000 a while back thinking it would be an easy 8% plus a 1 point origination fee.  I was able to get all my money back, but was supposed to be a 6 month loan took over a year to be paid back.  Fortunately, I had written in that the interest rate would go up to 14% if not paid in full by the 6th month, so I did start making more money then.  But, the stress was too much for me.  He kept missing payments and making excuses.  So, I think my limited funds hard money lending days are over.

Hello Paul,

I just moved to Issaquah a few weeks ago, but still manage over 600 homes and apartments in Yakima.   Of those, I own just over 100, most of them multi-family.  I'd be happy to get together.  

I am commuting 3 days a week to Yakima for appointments and inspections and doing the rest remotely.  Of course I have a well established team in place in my Yakima office.  My goal now is to develop a branch office in Issaquah.

Thanks for your thoughts Tom, and good luck with setting up a new property management business.  Follow up is so important, and so easy to not do when it gets busy.

I just hired a company that will do mystery shop telephone calls once a month for $35.  They will provide a recording and a written report. 

Since you're a photographer, be sure to use that in the real estate field.  I think it could really help bring in a little income while your getting your real estate business going.

I've been using a professional photographer for all my rental and sales listings now for several months.  It's been working out extremely well.  I negotiated a set price for an apartment, and another price for a home.  We have over 600 units that we manage, and I also have him take photos of all our move-outs, so I usually have between 2 to 6 locations per day to shoot.  

Has anyone used a mystery shopping company to find out how well your staff is perceived by others?  I have 5 administrative staff members in my property management firm, and I trying my best to improve their customer service skills.

My main interest would be to have telephone mystery shops done as I would think that in person shops might be expensive.  I just emailed a few mystery shop companies, so I'll find out how much it all costs next week, but I'd like to hear if anyone has had any experience in dealing with mystery shopping companies or has any tips for me so that I don't make any mistakes.