All Forum Posts by: Liam Naughton

Welcome Pauline! :)

Hey Brad,

Bring a copy of Rich Dad Poor Dad with you and use the diagrams in the book, they're super helpful for a younger audience.

Hey Jake,

Have you looked into any down payment assistance loans?

Looks like New York has DPAL sponsored by the State of New York Mortgage agency. That might be a way for you to keep your cash on hand for some renovations and forced appreciation to boost your portfolio a little.

My personal recommendation is always to pay off debts first before going after an asset because it directly impacts your purchasing power.

In this case, if you were to pay off your debts and then combine your income with your father's, you would qualify for more. Your credit score would impact your borrowing situation and paying off your debts would help with that as well.

Good luck!

Hi Mashal,

I recommend calling them and taking them to coffee to see what their buying requirements are.

Many companies will have an acquisitions representative that you can get in touch with, if you build a relationship with that person they can get you the fastest response on what they're currently buying.

If you're looking to try and help them sell listings, then you're going to want to find the owner of the company. Many builders do listbacks with the agents who source their sites so if you find a good build site you can take it to a potential builder and ask for commission on the front for the sale as well as a listback for a sale at the end of the project. Double the commission on one deal!

@Marc S. I like what Glen said and I've heard good things about Stessa.

One of my property managers uses GoogleSheets and does a great job.

Haven't used Quicken so I can't say.

 I think it's important to hire a cleaning service to free yourself up to do other, more valuable and important things. I've spent my fair share of time cleaning/turning over units and I wish I would've just hired it out sooner.

Call other companies/landlords to see who they use in your area. Generally speaking, the more a company spends on advertising, the more expensive their service will be. You want to find a company that is mostly referral-based. Call or message owners on AirBnb to see if they have a cleaner they'd be willing to share.

The main reason one of my clients cashflows higher on his house is because he has cleaners go in every week. He runs a rent-by-the-room and the tenants stay longer because they appreciate the service. This cost is quickly made back on the increased rent he charges.

We found our cleaning service through criagslist actually.

Hope that helps!

Hey Noah, 

Yeah, our building in Seattle just got hit with $100+ HOA increases across the board.

While we haven't seen the impact on property value just yet, it's only a matter of time before that number is factored into the affordability of the units. I foresee lower property values in the future but not drastically.

It just sucks... We're also considering moving equity elsewhere.

Hey Rigo,

If they can get through the basic questions and connect with people it can be a viable option. I'd be wary of making them a manager though because you want that person to have a good grasp on values in the area, how to comp, how to bid, etc. 

If the language skills aren't up to par you're more likely to push potential sellers away than you are to close a deal.

The other issue that comes up here is compensation. I had a friend who used a va for his outbounds and it didn't work so well. The va ended up just going through the motions of dialing instead of going for the close. This was a result of a poor compensation package so you've got to properly motivate them.

At the end of the day admin people are admin, you want a sales person to come into that role and really push for transactions.

Good luck!

Hi Megan,

If it's a separate unit I really like apartments.com!

You can also consider furnished finders to go after some travel nurses or some mid-term tenants if you're interested in furnishing the space.

Facebook or craigslist also work but I say save that as a last resort.

Good luck!

Hi Ricky,

I highly recommend hiring a cleaning service. As your business continues to grow, this is one aspect that you want on autopilot from the get-go. 

In my experience, it's better to overpay for cleaning services so that you get the highest quality that you can. We've gone through multiple cleaners that were cheaper and had to deal with the hassle of finding replacements or dealing with no-shows.

We now have a cleaner that's the most expensive but provides us with detailed updates and consistent communication. She sends us pictures of her cleans after each one and is always available for questions. We even have our cleaning supplies shipped directly to her now.

The benefit is that it's a business expense and your only responsibility is noticing the small details, not cleaning them. There are plenty of cleaners out there, keep going until you find the right one that will help you with your business long term.