All Forum Posts by: Larkin Adey

With Tax season looming, many investors and small business owners like us are trying to find ways to manage our business better in the coming year. 

How many of you are using Virtual Assistants (VAs) to manage your books, how successful are they/what companies do you recommend using?

My personal experience with VAs has been mixed, so would like to hear from the group.

@Bryan Mitchell

Go see a few listings in the area surrouding the property. Check out what they are using. Go with the flow of the Neighborhood you are working in. Granite isn't used in all areas, and every extra dollar you keep in your pocket -

Is a dollar in YOUR pocket.

@Brandon Shoults

Please read the post by @Nathan G.

I've realized over the years that I'm a better back office PM. Too nice. Sucker.

I use managment or proxies to deal with tenants most of the time. People who see things as black and white. If that isn't you, best to come to terms with it and let the rules robots do the leasing.

Maybe you are better at finding deals, influencing people or networking.

Find your role, keep moving.

@Rick Oaks

Start at 20 seconds in.

Sums up your situation.

https://youtu.be/XEL65gywwHQ

@Nathan Gesner 

Somehow I think you might have a moral obligation on this one. I know it sounds abstract to most people, as we are always so concerned with the black/red on the spreadsheet - but - we have to answer for our dealings in this life, and if we can make the life of a person who is struggling better somehow, and we have the ability to do right - we probably should. 

Now I am not saying we need to save every tenant from themselves - but a situation like this, probably deserves some attention. It is very Un-Cardone of me to speak of helping someone, but this is America and that unit looks worse than places I've slept in Afghanistan.

@Jason Ridout

I don't spend much time around my tenants, we have management in place.

My earlier thread was focused more on working within the industry, with lenders, sellers, partners, developers.

It's interesting that most of the posters on this thread think they need to hide from their tenants. Wear a fake mustache and old paint stained clothes if you have to. I don't need camoflage. I own the building. If they don't like it they can move.

@Jason Ridout

I dress well and drive a 1 year old Sierra.

I'm 40 years old, and comfortable with who I am and around my clients.

When I put together a partnership to buy an apartment building - how seriously would someone take me if I drove a late model dodge caravan or wore flip flops.

My equity partners are successful, clean cut ‐ well dressed people.

Surround yourself with the people you would like to be represented by, and take yourself seriously.

On a side note, shop for your clothes, cars stocks and properties in the same fashion. Find a good deal.

@Nathan G.

Honestly, I would move him to a freshly updated unit and rennovate. We pride ourselves on provoviding quality housing for all of our tenants. I'm sure his family wouldn't be proud to see him living in that unit.

Looks like something from the movie "seven"

@James Williams

Patner with someone in the area. Reduce your risk.

@Morgan Madill

Use the BP calculators, get partners to dilute risk, invest wisely.

Like buying stocks, treat each property like it alone is a business. If the deal is truly solid, market downturn or not - you will make $.