All Forum Posts by: Larry K.

sounds like you are off to a great start. The podcasts are great.  listen to all of them.  and read and post these forums.

if they did a thorough,  professional job and you want to have an ongoing relationship then you should pay them something on your own as goodwill between professionals (I have done this).  They are not a free estimating service and it takes a lot of time to put together an estimate.  

However,  I don't like that they gave you a bill unless they made that clear up front. 

I suggest you self manage but always have in mind and allocate the money to pay someone else. 

I see management and maintenance as separate. I manage w my own hands and time but the maintenance/repair is by another's hands and time. 

sounds to me like you should form an llc entity for just these properties. I think many others have done it this way for a long time. Talk w your atty and accountant.

it will have the effect of more people wanting get into real estate.  Does that seem good or bad to you? 

welcome Jon.  Essex County has the full range of areas and there many multi families.

I am sure you will find what you want. 

keep it separated in general.

That ultimatum is off putting. He thinks he has the upper hand which is just silly in this context but it sounds like that is how he looks at life.

I think your car should have 4 doors and be neat and smell nice. 

Show people you keep things well. That is all that matters. 

if you have the knowhow and experience to be the gc (and it sounds like you do) then that is gold and dont give it up.  I am not  speaking of you picking up the hammer. I am speaking of you hiring,  coordinating,   paying the trades. Construction is very intimidating to people who don't know it. You are so ahead. 

Perhaps hiring a part time project manager who can help with construction and the other aspects of business would work for you. 

Remember you  are getting more than just cash on cash return from your self owned real estate.  You  also getting principal paydown and appreciation.  So when looking at  all a reit is giving,  also look at your rental is giving.  Plus if the rental is nearby you can see and touch it.