All Forum Posts by: Eric Gerakos

I have one rental property that I want to keep. It is a condo and they will be raising the HOA dues shortly, but I will still be making a profit off of it. I am interested in getting a multi-family property in Sacramento area and found one for under $500k but don't have the 25% down to make the offer.

It's been on the market for over 100 days so I'm sure there are some issues and I'm wondering if anyone has had success bidding very low on something that has sat for so long. 
Alternatively, I'd also like tips on finding an investor to help me make the purchase or find another way? 

Looking for any advice!

We have a few single family homes in Kansas City, in a nicer, brand new neighborhood (built 2022). When we initially bought the homes we were able to lease for $2800-$3200/ month. However we have struggled to rent the homes at that same rate and have come down over 20% on price. Vacancy has killed the cash flow. 

What would you say are the biggest factors when leasing a higher price home? Location? Time of year? Property manager reputation? 

I have joined the prayer chain, hoping that everyone is doing well and, most importantly, staying safe.

Hire a property manager ASAP. This will allow you to make decisions about the property without emotion and the PM can handle the tough conversations. In this business you hear sob story after sob story. Toughen up or get a PM! LOL!