All Forum Posts by: Trevor Brunckhorst
Trevor Brunckhorst has started 3 posts and replied 17 times.
Post: Success is Good; Failure Better?
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
I really enjoy reading the successes of fellow BP'ers. As a 24 year old with a passion for EVERYTHING real estate, the success stories are just verification that it's never too early to start in the real estate game.
As much as I enjoy reading the success stories, I think a good forum would be the opposite; Failures.
I think that a "failures" section would be a great addition to an already great site. The things we learn from our failures, and the failures of others, often teach us the most.
Maybe others can weigh in on whether or not it'd be a good topic deserving it's own section.
In the meantime, lets start here. What are some of your failures in the Real Estate game? What are some of the details? What led to the failure(s)? What did you learn from the failure? How'd you cope at the time? How are you preventing similar failures from happening again? How devastating was the failure at the time it happened? Did you recover? What would you want others to learn from your failure?
**Note, failure might be too strong of a noun, but substitute it for what you'd like**
Since I am new to the game and the site, i'd say my biggest real estate failure to date would be not getting started earlier. I'm here now and ready to roll!
Trevor Brunckhorst
Post: Hiring a Property Manager?
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
Originally posted by Realtyman:
When first starting out - I also did not want to be involved in the management, but after 6 months and 4 tenants - we took over and it is not all that much to maintain. We ended up with 5 different tenants over the next 10 years.
I realize this is an older thread, but it's important to me to reply. I hope the OP is smart enough to disregard REALTYMAN's post as a horrible experience. It's unfair to label all PM's this way. I believe if you speak with our clients they'll sing a different song than Realtyman.
A lot of PM's are unprofessional. There are several more that DO and WILL care for your property. The same goes for landscapers, plumbers, or any other service provider.
The key is to ask questions, seek references, understand what's expected of the PM. Communication is key. In this day and age, nobody should wait longer than an hour for a return phone call. The technology allows us to be efficient and provide value to your business.
Trevor Brunckhorst
Post: Starting a small property management company
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
Originally posted by David Jackson:
In Michigan, our standard rate is 10% monthly management fee. The placement fee is 1 month's rent and that is standard. This of course is always negotiable depending on several factors - proximity, volume, condition of property, etc...
Our services range from simply advertising the property all the way to complete management oversight. The key is to be flexible and offer the investor/landlord exactly what they want.
Trevor Brunckhorst
Post: Property Manager / Agent / Investor - Metro Detroit
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
Originally posted by Mark Yuschak:
I'm a buy-and-hold investor with multiple SFHs and a small apt building. And, I am a rehabber.
Thanks for all the replies everyone! There are plenty of opportunities in Real Estate in Michigan, regardless of what you read in the headlines! For a company like ours, property management is growing considerably right now. There are so many people who are becoming "accidental landlords" around Metro Detroit. We've also been able to hook up with a few investors from the Far East that've been instrumental to our growth.
The goal is to grow the real estate business enough that I can say "bye-bye" to the 9-5 within 6 months. Feel free to add network and "follow" my career growth!
Thanks,
Trevor Brunckhorst
Post: Property Manager / Agent / Investor - Metro Detroit
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
Originally posted by Joe Dube:
Welcome to BP. I'm sure you'll find plenty of information here and it's a great place to network. Are you in the commercial niche or SFR?
Hi Joe. My "9-5" is transportation related industrial truck terminals and warehouse space. The idea is to get out of there ASAP. My passion is focused on real estate investment, property management, etc... I'm really excited about building my network and the path that lies ahead.
Trevor
Post: Property Manager / Agent / Investor - Metro Detroit
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
Hello everyone! Awesome site here Josh...
I wanted to take a minute and introduce myself. I'm Trevor Brunckhorst from Berkley, MI. I'm a recently licensed agent and have been working business development for [a property management firm] in addition to being employed by the largest private landowner in Michigan.
My goal is to build a portfolio of 50 units for my management company within 6 months. We've got a lot of activity in our area, so I know it's doable. I'd love the opportunity to work with anyone in the Metro Detroit area.
Trevor Brunckhorst
Post: Detroit Suburb Duplex Analysis
- Property Manager
- Berkley, MI
- Posts 25
- Votes 4
Did you end up buying the property? Are you planning on managing the unit yourself? If not, I didn't see a 10% in your calculations. Feel free to PM me as we work in the Metro Detroit area with multiple investors, landlords, and tenants.
Trevor