All Forum Posts by: Michael Tempel

We can scan your apartment unit, home, commercial property etc. for virtual tours typically same day service is requested.   This is a service to help other owners for a reasonable cost 150.00 per 1 bedroom and 200 for home under 10,000 SF.   THis is in a 50 mile radious of Mpls.  We will also need to determine if it is safe....unoccupied, clean units or property work the best.

We can also offer photos, floorplans and other options for additional cost (set of photos generated from Matterport will be included - along with short intro videos.

E-mail: [email protected] - Subject "Matterport".   

Here are a few scans we have done this week:

Class A Micro Apartment - https://my.matterport.com/show...

High End Condo Quality Property in Uptown: https://my.matterport.com/show...

We include this at cost or free based on the listing for management services we provide.  You can learn more below:

Single Family Management - https://www.NexusHomeManagemen...

Multi Family -https://www.NRSPM.com - you can also request case studies that will show are past large value ad projects we have done.   Anywhere in Minnesota 1-50 units in a 100 mile radious of Mpls.  75-500+ anywhere in Minnesota.  

We also offer broker services for buying or selling smaller investment properties - we have many off market deals and can also assist in value add renovations.   We have a full time agent that primarily focuses on Investment properties.

Just jumping in.   I would say at this point and time it truly depends.   Many contractors/builders are desperate.  

Most large management companies are laying off maintenance...we can’t go into units right now except for emergencies.  

Builders are essential employees so you can do new construction etc. 

Run the numbers, you likely won’t make a killing, but having new Covid free inventory after courts are hopefully open etc is better then the mess I expect to deal with when and if we can start to service homes and apartments again.   

We are working on a new construction deal now and pre-leasing like crazy.   My long term older inventory is going to be a mess I am sure.   Literally down to one tech for 500 units....there just isn’t work...no maintenance orders etc.  

We have multiple Matterport cameras and go do scans for apartment communities and other properties for $139.00 per scan.   

We are in a similar situation.  I have multifamily, commercial and single family and staffing everything correctly can be a nightmare, especially mixed with the logistics of windshield time and the many different request and expectations that vary be each owner.

For me when I have a 200 unit building, it is ideal.  I can build a staff and have the property pay this alone with management fees.   The smaller portfolios and single family properties get tricky when you have a few hundred, collect a management fee, but do not have a good way to pay staff outside of maintenance (that is easy since they are paid when they are deployed like a contractor).   I recently decided to take an upfront hit to hire a core team that will cost myself personally over 140K a year.... my option is to be understaffed, see service degrade and make an extra 100K until things fall apart.   Keep in mind I am choosing a centralized system and have the goal of slowly moving away from the day to day operation of the business and focusing on growth, system improvements and ideally enjoying my life a little more :-).   I want to create the customer experience and an someone dedicated 100% to owners as well as residents.  I find lack or no response is one of the leading complaints across the board for all management companies that I hear on both small and large portfolios.   

My quick two cents on your scenario.  Add the following:

Leasing Fee on SF - it is typically expected

On multifamily use percentages for fees if you are adding value.  I have raised incomes over 40%....if I had a flat fee I would missed out on the growth of the rents...plus it is an obvious incentive for the PM as well.

Personally I don't dig much deeper than that into fees since I see owners eyes start to gloss over.   The simpler you can make it for owners the faster you can implement growth that is sustainable.   

The way I read this question is if the % of property management fees are the gross income minus CAM fees or the Gross Income plus CAM fees?  Should CAM should be treated as something outside of the normal PM fee?  As a PM that is new to office etc. I am curious myself :-).

Full or part time sales for building residential and commercial portfolio. Compensation paid on percentage of acquisitions and long term on business put in place.

We manage apartment communities, single family homes and commercial buildings, so there is a lot of room to expand quickly and make great long term compensation.   

Leasing for apartments, single family and commercial! Very unique and rewarding position with room for growth and business development compensation.

I have a 32 unit building that I am familiar with that I think could be a great long term investment.   Just looking for anyone interested in potentially working with me on this project as a partner.

Thanks this is very helpful.  My target locations are between Duluth and Grand Marias or any nice remote lake in between.   

Anyone operating larger cabins?   I thought a corporate retreat etc might work well.    My long term goal is to move there in retirement and is the reason a nicer 2nd home is appealing.