All Forum Posts by: Wojciech M.

Hi,

Can anyone recommend a CPA in central NJ with knowledge of investing in NC and a W2 job in NJ? Just want to make sure we're doing the taxes correctly. Any help is appreciated!

@Marlene Sanchez

Thanks for hint we'll be watching northern Charlotte area as well

Same here! Let me know how your first purchase goes

@Michael Qubein - I recall couple of hints in various BP podcasts on youtube/webinars from BP - like having them short/straight to the point, hand signed touches people, yellow font on red for color scheme, but not like a full template. They have a good webinar up today, if you register you will definitely benefit from it as a starter. If you can't make today they will send you a replay. If you find something interesting please share. 

Hi there we recently closed on our first deal in Matthews, not easy to get single family or small multifamily in Charlotte area out of the MLS, they're gone in hours. Many end up having to pay more than the asking price to buy and it does not necessarily make sense for cash flow, but we were able to get a deal with 9% cash on cash ROI out of the MLS. You might be better of looking for properties in another way than MLS, direct mail or driving. Since you're there I assume you know the market so be ready to get an offer same day you see something. There are some investors and agents here that are also reaching out to folks in Charlotte, they might be able to help more. I will look into working with someone next year. Good luck

Hi can anyone recommend a good management company for central NJ? We're considering to rent out our single family home and would like to have some one manage for us

Good luck! We're starting in Charlotte area as well with single family and small multifamily units just got our first one closed last week. The webinars on this website and youtube from BP turned to be very useful starting points for more in-depth research but you probably already did that.

Thank you everyone for your responses, I appreciate the willingness to help.

We will be renting out Matthews property for now out of NJ and we'll look to relocate here next year to buy more investments.

Thank you both these proved to be very helpful in selecting the PM. We signed and we'll see what happens with the first rental. Just for reference these is the majority of the questions i asked if anyone finds it useful:

How long in business?

How many employees?

How many properties do you manage?

What about this neighborhood?

Show us similar properties to this one?

Do they inspect the property to check on it? How often?

How far is the next home you manage from our property?

How do you conduct maintenance?

What's their procedure if a tenant reports their HVAC breaking during an emergent time such as temperatures below 30 degrees and above 95 degrees?

How do you handle an eviction - process and how would you speak to a tenant that is behind on rent?

Who is reaponsible for cost and attorney fees?

How do you pre-screen tenants?

Do we get to choose the tenant from recommendations?

Do you guarantee a tenant and for how long?Who is responsible for coverage for excess damage to the property?

Do we have any contact with the tenants?(escalation, unhappy with your company)

How long of a lease do you suggest for the current time of year?

Tenant placement fee?

Lease renewal fee?

Move-out assestment?

Do you provide tax documents and at what cost?

How many evictions did you have per all your properties last year or 2?

What is the percantage of your rent collection in the recent past?

Hi,

Can anyone make any suggestions on how to best interview a management company? What questions do I want to ask? It will be for our first rental property in Charlotte NC.