All Forum Posts by: Krista Roodzant

@Thomas S. and @BOB CRANEY

Because we were in our first month of ownership I was giving the PM (who happened to be the seller) the benefit of the doubt regarding transitioning from managing his own units to managing on behalf of an owner.  It took them a while to get Appfolio working for their investor portal.  When it finally was up and running on the 21st, I discovered there had not been a payment by the tenant, only the CHA.  They told me they filed the 5 day notice, but I know they gave her several days of grace with reminders and quite a bit of her "I'll be in after work" promises.  I am unhappy with their communication thus far, but am hopeful that they are working through their kinks.  I really liked the owner when I met with him and believed he was honest and compassionate toward this tenant class.  I guess I am learning the hard way that this is business. 

@Phil Mcnally I agree that it is probably a rite of passage.  Hard to convince my husband that this is normal in this investment arena!  

@Troy Luster That's a good idea that I will pursue.

I just pulled the trigger and purchased my first out of state turnkey rental.  The tenant is receiving housing assistance through the Chicago Housing Authority.  The first month of ownership, tenant's portion went up over $600 per month.  She didn't pay anything on September 1st nor October 1st.  PM didn't even tell me until I started asking questions on Sept. 21st! They gave her a 5 day notice and have now sent the information to the lawyer who has to have a sheriff serve her papers. Fortunately the CHA portion covers all expenses and then some, but this is just lousy! Not exactly the turnkey experience I was hoping for.  I vetted this PM pretty well and even flew there to see the areas and learn about their operation.  Not really sure what I should have done differently.

Hi Max,

Is this still available?  Call me, please.

Sorry to have to miss this again!  On vacation last month and this one.  I look forward to August!  Hope it's a good group!

Just my 2 cents, but I feel like our culture is big on beating up parents who don't "prioritize" our kids.  I don't know about you, but my parents, who by the way are still married after 51 years, both had careers and didn't put us kids in every sport imaginable.  They didn't show up for every. single. school. event.  They didn't know or care what we were doing when we were playing outside for hours until the street lights came on.  We didn't really have a vote on which activities or vacations our family did.  You know what?  I'll bet most of the people on this site had similar childhoods...and we are (almost all) well-adjusted, functioning adults!  

My kids are in their late teens and early 20s now.  They are the beneficiaries of a stay-at-home mom for their whole lives.  Pretty much every activity their hearts desired, we allowed them to explore.  They are great kids.  But are they so much better-adjusted than I was at their age?  They will make their way in life, just as we all have, because that is what is necessary.  

When our kids know that they are loved and they see us modeling hard work, then I think we are doing our best and shouldn't beat ourselves up about it.

Forgot to add that it cashflows for about $350 a month.

As I understand it, we are probably near the peak of housing prices and are due for a correction. Given that strong possibility, should we sell our SFR and 1031 exchange it for cash flowing turnkey properties out of state? Details: Purchased in 2011 for $143K, out of pocket expenses of $66K, refinanced last year, currently owe $200, appraised value of @$300K. Any thoughts? I want to hold indefinitely, but my husband thinks we should get out while the getting is good.

@Natasha Keck If you don't mind sharing, what app or method are you using to keep your daily activities log?  Since it is going to have to be used so frequently, I wonder if there is a better way than just pen to calendar.