All Forum Posts by: Nathan Cross

I would suggest to find a way to put your $40K to work for you through someone else. Like maybe partner with someone on a deal as their money lender and get a ROI that way. Will help you build up some capital for your next solo deal.

You can find many examples on line, but you have to make sure the wording is correct for the state or not state specific in its language. I would suggest if you can find someone already doing wholesale deals that would let you use their example.  

What are you looking for in your PM Company? Are you looking for the cheapest option?

Daniel, I will tell you all PM Companies charge a maintenance fee, since they are scheduling and ensuring the repair is done right. Now a good PM would track these cost, so as to make sure their client, which is you is not getting hit hard for all these maintenance cost. If that is the case the PM compnay needs to find a contractor that understand this concept and that repeat business is better than no business. 

Have you tried to talk to your PM company about the cost? If this property always having maintenance request? Are these repairs considered normal wear and tear or are they caused by the tenant? When was the property or properties evaluated for any repairs or CPAEX rehabs to be done?

I ask these questions, because as an investor and owner of a property you have your level of responsibility to the properties and the tenants as well. 

That is awesome you are looking to at turn key as your first investment, will help you see proof of concept when it comes to investing in Real Estate. Seems that you like the Company so far that you are looking at, but my advise is PERFORMAs are not with the paper it's printed on. Now if they showed you legit comps that are close to that property for ARV and rental numbers than for sure move forward, but never take anything at face value always do your own research. I know a great turn key compnay named 3:10 store house. Check them out, they are also bigger pockets members. They do turn key investments, but they have a waiting list. So that there should tell you how good they are. Hope this helps.

Hey Wes, that is great to hear your two deals are cash flowing like a good deal should, so congrats. On finding a partner, my suggestion is that you find a partner with aligned goals. Make sure they want to do the AirBnB thing as well, and make sure their long term goals matches what you are trying to do as well. I have partnered with people on flips, most have worked out but some did not. All lessons learned either way. Well hope this helped you in some way, and good luck and keep crushing it!

@Peter MacKercher thank you. Just sent you a message. 

@Tyler Weiss thank you.

Looking for all the Saint Louis Investor meet ups. I am part of one awesome one already, but would like to see what other ones are out there as well. Like to meet as many investors and Real Estate professionals that are working in this market.  

What are you specifically looking for in a property management compnay? I am asking this just to get a base line as to your expectation management, are you looking for the cheapest around? Or are you looking for a PM that is an actual investor themselves?