All Forum Posts by: Mitch Coluzzi

Come right in! We're usually by the big sign!, 2837 Ingersoll Ave Des Moines, Iowa 50312

DSM Real Estate Investing Meetup is THURSDAY 7/18 at Ingersoll Tap from 6-8pm! Everybody's welcome to attend this FREE and open format networking opportunity! There's even free popcorn available ;)

We hope to see you there! RSVP or learn more at Meetup.com. We hope to see you there!

We meet EVERY third Thursday at Ingersoll Tap from 6-8pm. Mark your calendars for future events!!!

DSM Real Estate Investing Meetup is THIS THURSDAY 6/20 at Ingersoll Tap from 6-8pm! Everybody's welcome to attend this FREE and open format networking opportunity! There's even free popcorn available ;)

We hope to see you there! RSVP or learn more at Meetup.com. We hope to see you there!

@Matthew Choi

Might try giving Top Hat or Inside Out Renovations a call. No promises, have just seen other folks utilize. I have not personally (given my construction company).

@Lindsay Favazza - scale is the primary reason for offloading rental management. When you hit the 25+ unit mark, it starts to take time to manage monthly... When you hit 50+ it becomes a noticeable portion.

There are two options: invest in systems to manage the volume or invest in someone who has the systems.

I chose to self manage... and at the same time also to manage other folks properties. It's relatively easy to manage your own, but honestly... It's easier to manage other folks! The whole 'this is the policy' argument goes over a lot better...

At any rate, it's more of a system vs money issue. The time component will be spent on the front end regardless (picking a manager OR building a system... both take an equal amount of time unfortunately, lol)

BONUS: Professionals in all businesses are recommended based on perceived experience and tenure... How well their task is performed can only be judged effectively by someone who understands what the bars of success look like to begin with. So if you DO decide to hire a professional, it would behoove you to understand what the standards of hiring them really should include.

@Matthew Choi - they are far and few between unfortunately. If you aren't local, it will be difficult to manage DSM based renovations. I own a Construction company (not for hire) and can tell you, it's hard for ME to find decent OR reliable subcontractors. (If you want both, might as well hunt for unicorns)

If you are trying to budget shop, you aren't going to find a headache free contractor in this market. If you're willing to pay the premium of reliability, there are a few out there.

Best advise I can offer is to attend a few local meetups to network and gain contacts.

DSM Real Estate Investing Meetup is THIS THURSDAY 6/20 at Ingersoll Tap from 6-8pm! Everybody's welcome to attend this FREE and open format networking opportunity! There's even free popcorn available ;)

We hope to see you there! RSVP or learn more at Meetup.com. We hope to see you there!

We meet EVERY third Thursday at Ingersoll Tap from 6-8pm. Mark your calendars for future events!!!

@Nicole Hoss - strongly disagree with the property tax piece ruling out DSM as a suitable buy and hold location. While taxes are higher this year than last, there are a number of POSITIVE factors (rent rate, vacancy rate, and turn over rate) that offset that very predictable annual expense.

That said, I endorse DSM for investing overall but it comes down to your individual investing strategy.

@Sajid Sayeed - you get what you pay for. Initially, we used Rentecdirect which is solid (largely inexpensive). It has majority of the aspects you will desire... until you scale your portfolio. When you get into the 150+ range you will want to consider Buildium or AppFolio. Our preference (and what we manage with) is AppFolio.

The major differences are reporting abilities, tenant / owner portals, and long term document storage. Design varies SIGNIFICANTLY between products which is where we felt AppFolio excelled. All aspects of a property (tenant, owner, property) are integrated well with easy to navigate transitions between each.

Frills between systems that save a TON of time at scale include text to confirm, showing slots, guest cards (synced inbound marketing) and of course... online applications.

If you plan on having more than 10 units... pay for the software and so you can start filling out your whole mental utility belt sooner. Plus... most paid softwares have superior export functions, in my experience, than the freebies. Freebies miss major components or data control which just make future transitions difficult.

Hope that was helpful...

@Matthew Choi - feel free to reach out and we can chat to see if we are a fit for each other. My brokerage offers investor and PM services, along with an in-house maintenance team for PM related activities. We have some pretty unique opportunities, designated staff, and the latest in tech behind us!

Cheers

Mitch

DSM Real Estate Investing Meetup

Next Meeting is May 16!

Every 3rd Thursday 6-8pm at Ingersoll Tap

After discussing with several local investors, it was clear there was a great group of local individuals interested in making something happen in the real estate world of central Iowa. Yet... there are limited resources (dare I say no) outlets for actual down to earth, learning and networking WITHOUT the agenda-focused, fee-based, overwhelming-pressure-of-making-a-sale-overtones. With the DSM Real Estate Investing Meetup, there's a meeting every third Thursday and there's never a fee or gimmick! (Group leaders will have words with anyone potentially bringing gimmicks!)

This event was established to SUPPORT NETWORKING AND LEARNING. Whether you are reading your first book, flipping part time, or even a full-time professional, come grab a few drinks, chat, ask questions, and exchange contact information. Everybody's welcome!

Learn more by joining our group on Meetup.com or strike up a chat in our Facebook group!