All Forum Posts by: Engelo Rumora

I agree with what you're saying, but as others have mentioned, it still matters. What I wish people would stop saying is, I own 1,000 doors, when they actually own 5% of 1,000. 

I met a group a few years back that owned 2,000 units. They brought a deal to Endurus to partner with them. After talking with them, I found out that they needed us for our experience, liquidity and net worth. When I asked how much liquidity and net worth they had, they said less than $100k liquid and less than $1mm net worth. How do you own 2,000 units and not have well over a $1mm net worth? The only answer is that you own a fraction of the units. 

 Scam and spam? Unfamiliar with what you're referring to. Is there something w/ one of the comments I should be weary of? 

Thanks, Jackelyn.

Absolute disaster mate,

Just fired another one.

Gotta F@$#%ing bring everything in-house almost if you want to get anything done normally...

@Anthony Roberts your info, "having some difficulties finding good tenants", is actually pretty vauge.

Are you having problems getting showings, applications, high enough credit scores, performing tenants or what?

Need more specifics to offer any decent assistance

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you.