All Forum Posts by: Frazz Wick

I have a rental with a tenant who doesn't have much rental history because they've owned a home for the last 5 years. Any recommendations how to handle this? Do I take personal references on business transactions (he owns this own general contracting business)?

I've been managing my own property for the last 5 years and now I've been asked to take on another property from a relative. I decided to go get my property management license to be certified with the state. I would like to take on more properties (as a side hobby, for now), and have been trying to decide if I want to start my own company or join an existing company. If I joined another company, I would want to find one that doesn't currently operate in the region. I want the responsibility of managing my region but have the support and advice from more senior and experienced professionals. Am I better going out on my own and creating a property management company or should I join an existing company? How would I find a company that aligns with my goals? At this point, I don't want a 40/hour week job, just something that I can handle a smaller portfolio of rentals. The portfolio could grow, I wouldn't be opposed to leaving my current job...if anyone has advice or knows a company that would be interested in expansion, it would be greatly appreciated. I know my region and the market very well here in Salem, Albany, and Corvallis. I also wouldn't be opposed to finding investors to purchase more single family homes, but that seems to be 'next level' investment and I don't think I'm ready for that risk.

Wow thanks Brianna!

Thanks Drew! Do you recommend one over another?

I have someone who would like me to manage their single family home rental. I currently manage my own rental now, and considering this to be the "kick in my pants" to get my property management license and start a small business doing property management professionally. I've been looking around for different types of software to use and have had difficulty finding anything that works as a middle man between the landlord and tenant. In the past, I've used Zillow Rental management, but it looks like I have to be landlord to use that program. Does anyone know of a software built for property managers? Or would my contract with property owner give me 'landlord' rights?

My wife and I are looking to remodel our kitchen and bathroom. Within the next couple of years we want to rent the house our and BRRRR. Does anyone know of a style guide or resources on matching colors, backsplash styles, etc.? We've heard white will last but we are also trying to attract high value, luxury-minded renters.

I have been renting my first home out for 3 years. The rent I collect 1950/month which is two times the mortgage payment. I only owe $45,000 and I'm considering paying off the house within the next 2 years. 

What are your thoughts here. Is this a good idea? My thought is from a piece of mind perspective. Paying off the house would mean I own it free and clear. I'm conflicted however, because I want to buy another rental soon.