All Forum Posts by: Julie Marquez

@Tracy Streich Thanks for the response, I'll look into NARPM. I help manage my family's 20 units, and wonder about the possibility to take on more once I get the systems in place. 500 doors is a lot and I see requires a lot of systems and some employees in place.

@David S. You could probably structure the fee to be whatever you wanted. You could give back to deposit 50% at 6 months and 100% at one year, or something based on duration, or whatever months worked for you.

It's nice to see so many people liking m2m agreements, I don't know why they aren't more standard.

We do m2m on our apartments, and as you’ve read, I think it has to do with the class of people. Our C class residents would just ghost anyway before a year if they needed, and we can terminate the agreement in less than a year if we need. Our agreements have a non refundable fee that covers the turnaround if they leave early. If they stay longer than a year, that fee goes towards the refundable deposit.

@Tracy Streich Thanks for the response! With 500 units what do you have for staff or help in place?

Earlier I asked about how to become a property manager, and got some great responses and have been talking to people all about having a property management company.

Now I want to know the pros and cons and all the opinions about the risk and reward of having a property management company. I don't see a lot of people running to work in this side of real estate. Most people don't get their brokers license to manage other people's rental. What's the good, the bad, and the ugly of doing property management?

Search on the "Forms" part of Bigger Pockets. I found a robust 5 star form for income and expenses that you can download, I thought it was really good and just started using it.

@Blake King Congrats on the duplex and welcome to the neighborhood! All of our properties are in Mount Vernon, so if you want feedback on rental prices, etc. I'm more than happy to help! All of our rental agreements are month to month, some times we keep a good tenant at below market rent because we want them to stay, and other times we get it up to market rent because it is so hot right now! Maybe he's a good tenant and you will not want to deal with a turnover, or maybe you want to start fresh. Looking forward to hearing more about your MV deal!

@Sharon Rosendahl Thanks, good to know! I like Washington Federal, we use them on our personal construction projects, they have a good construction loan that allows owner-builders.

@Sharon Rosendahl Is Skagit Bank is a portfolio lender?

That was a fun episode! When Mark made $800k on that duplex, did he go back and thank the realtor who convinced him to buy a property?