All Forum Posts by: Jonah Hartsburg

There are some great suggestions here, and the situation you're facing is undoubtedly challenging for everyone. While this is not legal advice, it might be worthwhile for your lawyer to explore your neighboring tenant's "right to quiet enjoyment" and assess whether their actions are technically infringing on that. I agree that if an amicable resolution is possible, such as offering a cash settlement or mutually agreeing to terminate the lease without incurring any early termination fees, it would likely be the best outcome for everyone. Given the nature of living in a multi-family residence, it seems like an unsustainable situation for her tenancy to continue. If a resolution is not possible through negotiation, it's crucial to continue pursuing your lawyer (or another) to ensure you follow the proper legal processes in your area.

From an outside perspective, I do want to applaud you for the thoughtful approach you've taken. 

I second @Dan H. Make sure you're calculating all expenses, i.e., repairs, cap ex, insurance, taxes, vacancy, management fees (to pay yourself for the work or to pay a manager), maybe HOA dues, etc. In essence, the cash flow would not be $1,900/m if it was rented for $1,900/m, due to those fees. Maybe it's still a worthwhile position for the asset, but I would highly recommend making sure your expectations of cash flow are calculated with all expenses considered.

Hi @Jaime Bott - What would be the benefits to you for finding someone local to Columbus? I've worked with quality bookkeepers from other countries at heavily discounted rates and would be interested to hear the value you place on a local bookkeeper from a consumer's perspective. 

@Duane A. Snow I've spent quite a bit of time on the top-ranked FSBO websites, Craigslist, etc. In my market, I've found the most success with FSBO's on Zillow FSBO, Facebook Marketplace, and for sale yard signs.

In addition to @Zachary Ware's resources, there are plenty of websites where you can search, interview, and hire directly. We also have an agency based in Cebu where we match, vet, and support Filipino virtual assistants for small and medium-sized business owners. My number one suggestion would be to treat VAs like remote team members and all the management activities involved with that. Often they are overlooked as viable team members because they are cheap. I believe that creates missed opportunities for effective collaboration for both the assistant and business. 

 True!! I should specifically No Caller ID as opposed to unknown callers. 

@Joe S. There are a handful of tools to help whether this is on your personal phones or your business line. For personal, most phones have a setting where you can block unknown callers, and there are apps you can download to help filter out spam calls. If it's your business system, some of the more popular providers (Dialpad, RingCentral, etc.) come with a built-in spam filter for high-risk numbers and robocalls. You could also hire a virtual assistant as an administrator to answer your business calls while also providing general administrative support, similar to an executive assistant who helps narrow down your email inbox to the content that matters most (and is income-producing). 

Hey! There are quite a few due diligence items and contingencies available in the typical offer, each of which should cater to your state, the property, the seller's situation, funding, your experience, and your risk tolerance. I highly recommend securing a local agent, quality mentor, or partnering with an experienced investor on at least the first deal to learn your options and how to apply them to each deal. 

George: “I have a sixth sense.”
Jerry: “Cheapness is not a sense.”

I resonated with these points! Thanks for sharing the nitty-gritty. 

@AdriAnn Rode - Congrats on growing your business and kudos to you for proactively networking! As you know, some key characteristics of a quality property management company are effective processes, strategic decision-making, and excellent communication. While networking, I recommend considering the valuable lessons that many seasoned property managers have learned through trial and error. Anticipating and addressing these challenges beforehand can contribute to maintaining the consistency and integrity of your services as your company scales.  The market is open to quality managers who treat properties as their own.