All Forum Posts by: Eric Berkner

How much $/% does everyone recommend in reserves? I have a small portfolio that totals $5,117/mo. in mortages. Would 6 months of fees, or 30,000, be a good amount. 

Thanks!

I am looking for a mentor that can help me accomplish this goal. I want to get into larger multifamily complexes. I am looking at investing in Ohio, possibly Cleveland suburbs. I am looking for someone who has already invested this way in this market who can help guide me in the right direction. Any help or guidance would be appreciated! 

I own one SFH rental property, I bought it 4 months ago. I hired a property manager and have had so many issues come up with them, just trying to see whether this is normal or whether I have a terrible property management company. Are the following issues pretty standard or are they unique to this company?

1. They never call me back. We recently had an ice storm and wanted to see how to clear out the debris from the tree damage, also I am worried about the roof being damaged. Nobody called me back, no emails (several sent) were responded to as of yet (one week later). 

2. Every time I call them, nobody knows anything about any of the other departments. If I ask about a maintenance issue, the "maintenance department" gets my message but never calls me back. I received a notice about a flooded washer that happened 1.5 weeks ago. Then one week goes by and I hear nothing. I then get in contact with "maintenance" to learn they just left the standing water in place and have done nothing to assess the situation. Now 2.5 weeks later, I am frantically trying to get them to do something, after many calls someone goes out and reports no damage and the issue is resolved. Anything water damage I feel should be followed up quickly but I am new to this landlording thing so maybe I am just over protective of my 100k investment?

Thanks in advance for your responses!