All Forum Posts by: Account Closed

 James,

thanks a lot! I will check it out today. Do you have a PM company?

Have a great day

 Hello Kevin,

My question is, at what point you start automation. I found myself doing everything.

Do you have any strategies? I recently sent my tenants a letter explaining my new schedule is as they were reaching out at crazy times

Any advice?

Thanks a lot!

HI!

 Hope everyone is doing great! I opened a PM company as I kept getting more and more home owners who asked me to manage their properties. I started a year ago managing a building of 38 units ( I am still not getting paid for this but I do not pay rent which allowed me to buy my first rental) and now I am currently managing 64 units.

I would like to get any advice, files, forms or anything you believe it may help me to automate this as much as I can. I am based in Calgary, Canada and will love to connect with PM companies or people who are on the same page. I find myself doing everything and I recognize that it is not the smartest thing to do. What are the things I should do ?

Thanks a lot in advance!

Hello Everyone,

So I have been managing this 38 unit building in Calgary, Alberta, Canada for about 8 months now. When I took over the building it was making 36k gross rent per month and there were 8 vacant units, now the building is fully occupied and making 48.5K a month.

The owner is really happy with my results and the fact that I got a new tenant during this pandemic. He owns a couple of buildings in the city and there is one that has 9 vacant units. I want to manage that building as well but also want to be fairly compensated.

The building that he wants me to manage has 50 units. To give you more data, he is not paying me anything for the building i am currently managing, only free rent. It is sweet because it helped me to save and buy my first rental property but I know that he is saving money with me.

-What % of gross rent should I ask for managing a 50 units building?

-Should I asked for more money if I reach certain milestones? Ex: 0% Vacancy, lease renewal fees.

-What do you think I should add in the agreement?

Any advice is welcome!

Thanks a lot

Juan Coltrinari

I have been reading and for investment property the d/p is 20% so I believe you could be better off living in the half duplex and only paying 5% down payment for it.

With my gf we were thinking about buying a rental property and finally made an offer on a duplex here in Calgary. 

Let's stay in contact so we can help each other.

Juan

I got a chance to manage a 38 units building in exchange of free rent in Calgary, Canada (2 bd apartment that rents out at $1420) 

The building is currently making $48k gross rental income per month. When I took over it was making only 40k a month.

It has been 7 months since I started doing this and I really like and enjoy it. The owner has another building close by an I would like to manage that one too. He currently has 2 managers in 2 different units. One does the paperwork and the other does the the cleaning. Both are paying half of the rent but the owner does not like the idea of 2 people doing the work of 1.

I am having a meeting with him and I would like to talk about managing that building too. How much % or the rent should I charge for a 38 units building? What are the main points I should make to be assertive and get the position? how could I make this more convenient for him without giving up my interests($$) ? I believe this building is making 44k but I am not sure.

Thank you for your help!

Juan