All Forum Posts by: Jarrod Kohl

Depends on what you are looking for and how much you want to pay. Cozy, Buildium (what I use) appfolio and rentmanger all are either mobile or have great apps that go with the platforms.

As others have said, I highly recommend making some connections and then flying out to see them.  I am always amazed that someone will spend $200k+ and not want to spend $300 on plane tickets.... its one thing when you have a trusted partner and you have worked with them on other deals, it is another if you are just learning about a market online and going with the group that markets the best.

Turnkey providers can be great, but there are a few out there that just looking to take your money. Make sure you do your legwork and you should be fine.

Great asset for sale in small stable market.  This is an opportunity to pick up a building with 12 apartments and 3 retail spaces (2 Occupied and 3rd is owner/seller).  The property has a nice cash-flow but could also be re positioned with interior renovations of units. 

$575,000 sale price, current gross rent: $107,748

Located downtown Ravenna, OH 44266

 I second this, you can then also show potential buyers that you are making $X a year in revenue on it.

 At that point just pay for a cleaner.

Usually when I have messy tenants I explain to them that the cleaner the place is, the less I have to show it.  That is usually a pretty good incentive, especially if you have shown it a few times.  

As others have said, there are a lot more risks when getting something sight unseen.  How well do you trust your agent and local PM? If you have not met or worked with them before, I would consider at least checking the place out in person (plane ticket is a lot cheaper than some crazy headaches) or making sure you have thrid party inspector and a lot of videos.

 Thats what is confusing to me. I reached out to several local banks and they are all hesitant to loan to someone who does not plan on moving to the state.  3 separate banks.

 Several have said that all the financial info is good, but they can’t loan the amount (650ish) to an out of state borrower. It is a 12+ unit building and makes good cash flow. 

I have a client that I am working with here in Boston, but he is interested in a property out of state (Ohio) and they are having trouble securing financing.  They have great pre-approval here in MA but keep getting tripped up when applying out of state since they are not planning on moving there.  We have the property and the manager picked out, but cant seem to line up financing. 

Any advice? 

I would worry more about the fire than the stigma, but as others have said in a small town it may have an effect.