All Forum Posts by: Justin Wilkey

Echoing a bit what others are saying and also maybe adding some inspiration... every time I've looked at partnerships it diluted the reward to the extent it didn't feel like it was worth it anymore. If the transaction makes sense then you can typically find a way to close the deal on your own (e.g. 401K loans, family loans, a regional/local bank that will structure financing in a way that can make the deal happen). With that said, networking helps and should be considered even as a long term play. I don't do much but through my network I now have investors that are lawyers. RE agents, and other trades people that I can look to for help and recommendations. Plus, whenever I am ready to sell I likely don't need to bother listing and can just reach out to my network to sell.

For what it's worth, what might sound like a slow growth strategy doesn't feel like it in hindsight. My personal experience (all LTR) I bought my first property... a few months later bought a 2nd after getting my feet wet. I was definitely "broke" at that point but after 2 years the cash reserve was solid from the cash flow of those properties and I bought 2 more. That made me cash poor again... Yadda yadda, I'm now up to 5 properties and ready at any time for the next deal. I'm not "quit" my day job status yet but I'm getting there. 

Yeah, I checked with him and he is taking on work so go for it.

Try Daniel with TRU Facility Solutions (513-725-6502) I don't think he has a website. He did a heavy turn for me and it was good work. 

@Brennen Thompson I have considered it and you are right about having some good systems in place but almost unfortunately my day job is a bit too lucrative/flexible to give up on it yet. Definitely considering "full time" PM as my next career. I think I might be strange in that I enjoy some of the calls I get and helping tenants out.

Thanks for all the input here. @Drew Sygit I read the list and have some specifics to discuss with the couple of options I'm screening. You brought several items up that I had not considered and I'm checking into them now.

I'm on the cusp of hiring professional property management after years of DIY and building a small portfolio. I have a "day job" so my 16 units are starting to be a bit cumbersome at times. I found a company that seems to have a good rate, reputation, etc. but as I'm about to pull the trigger I'm catching myself second guessing. I'd like to hear some good and bad from people who have made the switch. All my units are walking distance from my home so it's relatively easy to handle. I can't tell if I can't let it go because this venture is "my baby" or if it's just normal cold feet and I'll love it once I'm not tied down with managing the day to day. 

@Joseph Cornwell did you just order online or did you work with someone to place the order to get the discount and that operates as a representative?

Thanks Richard, that's exactly what I'm looking for here in Cincinnati. I actually tried the old "go to the store and talk to someone approach" with Lowes recently and it turned out worse than the online system. There was a problem and no one would give me a direct line to call and they wouldn't do email. I spent hours on the phone and on hold trying to get someone to help. I even had to go to the store to wait for a store manager to be free. The small/medium retailers for appliances seem to be going away.

Thanks, I'll check out Appliance Factory... had just found them with some googling. I've thought about buying some to have on reserve but honestly I don't want to deal with moving them around. All my units require going up a stairs. Half are on 2nd floors. I have a "dorm fridge" I'll drop off for tenants if a new fridge is going to be more than a few days out.

Does anyone have suggestions on where to buy appliances that cater more to landlords? I have 16 units and I figure I'm going to be buying a refrigerator 1X/year at a minimum. I've been dealing with the big box stores (Menards, Lowes, Home Depot*, Recker and Boerger) and literally every one of them has been a big pain at times to the point where I'm willing to pay more to get reasonable customer service. Since many stores are just brokers for suppliers I'm hoping I can find someone that would like the steady business and be willing to help more when there are problems.

TIA for any input.

*HD has actually been the best. The other 3 were downright awful. HD at least had some semblance of customer service but they've even slipped as of late.

Has anyone had experience with the Hamilton County (Ohio) Emergency Rental Assistance Program? (ERAP). I have a tenant that was approved for assistance and I was told that it'd be 45 days to get payment. It's now been 60+ and no one is responding to emails. They conveniently do not share phone numbers. I've tracked some numbers down but get no calls returned. Has anyone had any luck collecting from them? I'm now starting the eviction process and feeling like a complete moron. I pride myself in working with tenants when they are forthright. This tenant was open to me and she did the right things to get help. Now I'm looking at eating 5-6 months of vacancy as they are seemingly backing out. Any success stories out there on getting in touch with a person?