All Forum Posts by: Raymond E. Hopkins

Fellas,

Thank for the great insight.  The internet does make it hard to try to stay anonymous these days, doesn't it?  

At this point in time I only have one rental, and I manage it.  So, my tenants know who I am and I don't mind.  But, recently I had one tenant call, text, call, and call again all in about a 4 minute time span, because I did not answer the phone the first time.  No one had died, the house was not burning down, and it was not an emergency of any kind.  This confirmed my thoughts on wanting to hand over management of my properties in the future.  At the very least to hire an assistant to take my calls, as soon as I am able.  Around this same time I heard on one of the podcast how a tenant had found out who the owner of an apartment building was, and started bypassing the management company to contact them directly. 

As I start to set my self up for the future the thought crossed my mind as to if I should use part of my name in the branding as I was originally planning too, or use a generic brand.  As you guys have pointed out, if the tenant is driven enough they will find me.  But, possibly using a generic name may make them have to work more than they are willing to find me.  We all hope for perfect tenants, but we all know the crazy ones are in our midst, lol.  

@David Thompson I like what your coach told you, and with me having red hair and beard it would be even easier for me to stand out.  The problem is that I will want my peers and lenders to know me, but eventually I'd like to be a silent 3rd party to my future tenants.  I guess to accomplish this I better find a good property management firm, but from the information I hear on the podcast they are a rare breed. 

Raymond    

@Jerry Rien,

I do have a couple properties, but both have been done solo as far as financing.  My current project will hopefully have $60-80k in available equity line when it is all said and done.  Should have closer to $125-150k, but ran into a crook disguised as a contractor (charges pending-warrant issued for his arrest just last week).  With that said, I understand your reservations as mine have compounded as well.  I'm hoping this current project will enable me to start multiplying the number of units I have.  I, too, am looking into buying smaller multi family for my next deal. 

What do you hunt?  I mainly deer hunt, but have started dove hunting as well.  I would like to start hunting more types of game, but with three kids and another on the way the wife would kill me if I was out every weekend hunting something else, lol.  So, I save my battles for Oct. when deer archery season starts here in Oklahoma.  Luckily, she enjoys hunting too.  It is just hard finding time that we can both go. 

@Ben Wilkins,

I'll definitely have to put it on my list of places to go.  I grew up poor, so our idea of a vacation was going to the swimming area at the local lake here in Oklahoma, lol.  But, now that we are all pulling ourselves out of poverty we go on a annual vacation to Fort Morgan, Al.  We go during the fall, and rent a house right on the beach.  We practically have the beach to ourselves, thus making for a very quite and peaceful vacation. 

@Alex Capozzolo,

Thank you for your input.  I agree with all of your points, but to be more specific do you see an issue with using your name if you are trying to be a purely passive investor?  Let's say you own ABC APARTMENTS which is operated by XYZ PROPERTY MANAGEMENT, and your company name is CAPOZZOLO HOMES.  Would tenants be able to track you down merely by searching your name?  If purely passive investing is your goal, would you suggest a generic name for your company?  For example EAST SIDE REAL ESTATE. 

Raymond

@Ben Wilkins thanks for the input.  That is basically how I envisioned the process.  I liked the idea of a private money lender/partner if available over traditional bank or hard money for the potential to move quickly.  I do agree terms need to be clear and stated in advance to remove emotion.  But, I guess that's the benefit of bank/hard money.  There are no emotions it's purely numbers.

Is there skiing in Boulder, CO?  If not, what is the attraction?  I have yet to go to Boulder, but I do hear Colorado is beautiful country. 

@Account Closed I like the thought of no partners, because there is more meat on the bone for my family and I. But, some deals are outside the grasp of new investors. That is why I was curious if I were to find a deal on a potential BRRR if I should attempt to find an investor who merely wants the quick cash and buy them out upon refinancing, or do most investors want to stay on as partners for the duration of the project? I could see wanting to do either depending upon the deal and the partner. If it is someone I trusted, but did not see a long term working relationship with I would want to be bought out. But, if I trusted the investor and saw the potential for a long term partnership we could maintain the partnership even after the refinancing of the home.

I've never been to Yellow Stone, but it is on my list.  I'd much rather be out in nature than a big city, such as New York or Vegas. 

Good evening,

I am currently looking to start setting up my small operation for its future success! Part of doing that will be getting all the proper paperwork filed, setting up website, and activate marketing campaign. To do this I must decide on our brand. I have it narrowed down to a few choices, but I pose the following question to my REI peers.

When naming/branding your REI company should you use your name or part of your name?  Either way, what do you believe the advantages and disadvantages would be? 

Thank you for your input.

@Victor S. I believe I came across that note section too, but I believe that is to let you take private notes on people. I did receive your email. 

Thanks!

@Jesse Tsai that is my plan, thus far.  I've heard certain insurance providers ding you for potential rate increases even if you just notify them of possible claims.  So, at the time I am biding my time, but I am saving any communication between myself and the tenant.