All Forum Posts by: Michael Joseph Allen II

@Marc Rice, I'd love that, I appreciate the assist. I'll DM you!

@Michael Smythe Thank you for the reply Michael. I will heed your warning and be sure to ask as many questions as posssible while talking with these people. I've had one other previous experience with a PM and it has turned out perfectly tbh. I very likely just lucked out, thanks be to God. Here in Dayton I've been a little less happy, but I have been constantly reminded that setting proper expectations and taking the stick out of my own eye are the first steps to solving my problem rather than lashing out at whomever I brought into the fold. 

I hadn't realized there was an entire website for PM discovery, so thank you for that as well. And link the blog posts so that I can educate myself on how to inview a potential business associate. 

I know I asked for a specific answer, but I'm happy you chose to "teach me to fish, rather than hand me a fish".

Have a good one! 

I'm a goof, I'm in the Dayton, OH area. 

Hey BP,

I've found myself in the particular situation that I need to find a property management company that will assist me in finding tenants for a building I purchased. The main demographic that I would like to target would be Section 8 or Housing Voucher individuals. Does the community have any recommendations? 

I appreciate any and all help provided! 

Hello everyone,

To keep this short and sweet, I plan to join the Air Force in the next couple of weeks and will need professional help renting and maintaining my new home in Lubbock, Tx.

I’ve done some research on a few companies in Lubbock, but wanted to know if there were any hidden gems I was unable to find that you were aware of.

As an aside, I’ve entertained the idea of finding a professional Airbnb management company as well. But the only local group looks to be Housechasers, unfortunately they have not returned any of my calls. I’d be more than happy to take any recommendations the community has though.

Thank you for your time and thoughtful responses in advance!

@Tricia Vitela I appreciate the kind words Tricia. I initially had this same idea and as of two weeks ago a JV partner of mine started renting his two extra rooms out. It is fairly genius. Unfortunately, my S/O feels that she would not be afforded the privacy she thinks owning your own home deserves and has veto’s the idea. I’m sure I could pull the old “well you’re names not on the mortgage” card, but the loss of my potential ride-or-die for an extra 800$ doesn’t seem like a very good ROI. Do you have any tips on how I may make her feel more comfortable about the idea? Or should I continue my current thought process? P.S. I do want to make very clear that I value her thoughts in this and understand the necessary privacy she’s requesting, all while at the same time contemplate the power of leveraging OPM for such a large purchase and potential future endeavors. I really just want to make the absolute best decision for hers, mine, and our future. Even if it ultimately means making the hardest one.

@Brian Ellis I appreciate the response Brian. My S/O brought that same idea up. That tenants just wouldn’t look at the home the same way I do. It’s a strong topic of discussion but I feel that I have an opportunity to be very picky since I can choose to live in the home if I don’t find the exact situation I desire. Knowing this would your opinion still be to live in the home vs. find the perfect tenant?

Hey BP, Some back story; I work for a new home construction company here in Lubbock, TX. I’m 24 years old and when I started was consistently encouraged to buy a home as quickly as possible for specific reasons. Fast forward a year and I’m near the end of the construction of my new home. However it hasn’t felt as, “I’m going to live the American Dream” as I thought it would be. All of this is to say, Ive been investing time and resources into my financial IQ as “Rich Dad” would put it and found BP. After reading so many stories of success here on the site and really thinking pretty heavily on my future I had moved to the conclusion of renting out the home rather than “house-hacking” or making the home my primary residence. So for the numbers I’d love to make a cash flow of 350 dollars on the property. It is 1550 sqft, the mortgage is 810, taxes 330, insurance 55, no PMI. The home has an extremely comprehensive warranty for the first two years and I had the crazy thought of just not saving for any other expenditures for the first two years in order to save the cash flow from the home and money from my 9-5 to buy another home. But I also feel like someone here may be able to explain why my gut is telling me that’s a rookie mistake. I’ve only got about 1300 of my own money invested in the home as well. All this taken into acct. I’m pretty sure the 3/2 only needs to rent around 1550 to get to my desired goal. I planned on talking to some of the property management companies around town over the next few days. Do my numbers seem correct? Am I making the right decisions? Am I being overly optimistic? What else should I be accting for? P.s. The rent for my current apt. is 900 all bills included in that number, which needless to say is downright robbery in the area. Incase that is necessary.