All Forum Posts by: Michael K Gallagher

might be worth having each of you take some kind of personality profile so you understand how to effectively communicate with each other, and that will also help direct you to what each of your most valuable tasks would be.  

@Jacob Ellsworth Honestly, a lot of picking an asset class, location etc is really down to personal preference. For instance I tend to favored small multi over single family because I personally like the numbers and the flexibility of income it provides. I can long term lease it, short term, move back in and house hack if I need to, and the financing is fairly simple and you are able to use and FHA loan. But that's just my preference, does not mean it's the only way to make it work.

As Brandon always says, it’s more important that you decide and start taking action than what you actually decide.

@NA Whelan you might also want to consider offering to sign a longer lease to reduce the increase. If you have been a good tenant and have not had any issues or missed rent payments previously it’s worth using that as your leverage.

@Alex Smith I’ve been setting up some clients with Hemlane.com. Their is a monthly fee based on the level of service you want but the interface is pretty great. I think the basic plan is about $36/month. And goes up from there depending on how much you’d like them to handle. They have a huge library of vendors to use for repairs and such as well.

So far it’s been a great experience. I agree that Apartments.com is clunky at best.

I've gotta put a +1 for monday.com, its not specific to real estate, but they have real estate templates you can use.  It is super flexible, allows you to tie in other vendors into the same systems. links out and integrates into umpteen different apps you might already be using, and has an incredible notifications and automations library.  Like anything, it takes some hands on time to figure out how it will best fit into your process flow...but from my experience its one of the best tools out there on the market, especially when dealing with multiple vendors and companies.  

My wife and I have had this conversation when were talking more a short term rental type set up. Having an electric charger on site for overnight charging while staying in our units would, in our mind, really put us a step above the competing units. On a large scale like you are discussing, I see the benefit, but to your point...how do you quantify that ROI on the charger install? You are absolutely accurate that we are headed in the direction of no one really "owning cars" but treating them like pods that drive around all day autonomously. I absolutely see things going that way.

Congrats on the ongoing projects they sound incredible.   

@Justin Goodin the multiple exit strategies is a big one I look at.  usually looking at the area and what industries will allow me to pivot the exit if needed.  What are some ways you have seen as successful strategies for "stress testing" an investment.  I'd be interested in your thoughts.  

@Richard Perrin what a cool property with those garages!  Are you rehabbing the duplex itself or just concentrating on making cashflow off the garages?  Congrats on the purchase.

HI @Carly DuCharme I can't speak for Texas, but I've used the BP forms they provide for OH on my own and my clients rentals.  They have been super helpful so far.  Depending on the requirements of the property or the client usually some minor tweaking is needed, but overall I've been extremely impressed with them.  

If you are looking in Minneapolis or St Paul areas you should contact Amy Renae at Brick and Banister Real estate.  She is an absolute Rock Star, and is doing incredible things out there...including literally building her own house with her family!  She's put an elite brokerage together at Brick and Banister