All Forum Posts by: Chris Clothier

I think J Scott gives some great advice above because the best way for a Hedge fund to find you or know that you are even in business and offering something they want is to be "visible". I will tell you that there seems to be very little rhyme and very little reason to some of the purchasing formulas, methods or long-term plans with some of the funds we are aware of in our areas. We have so far not needed to sell to any Hedge funds and those we've met with have recognized that we are not a good fit mostly because our long-term plan does not fit their long-term plan. We have also seen several change their strategies after operating in our market for about 6-9 months and it is our belief that they are changing because they are not making money on the properties they originally purchased due to poor oversight on repairs, lack of repairs (deferring maintenance) and poor management.

Sorry for the long ramble. To the original question I would recommend doing what J Scott said and consider any other way to make your self and your company or properties visible to them.

Chris

Ryan - Welcome to BP! I'm impressed already that you have given yourself a goal and a timetable and from your response on here, you have already started working toward achieving that goal. Good stuff -

If I can help you in anyway, especially from a due diligence stand point before purchasing turn key, please don't hesitate to let me know. I can give you a few questions to make sure you are asking a few responses that you are looking for from a company you choose to do business with.

All the best with your 2013!

Chris

The thing I like best about it so far and that while I am working on other things, I can check out my alerts to see if there is a pressing topic that I may want to get to right then. Otherwise, I can start prioritizing when i need to get back over there, but I love the fact that this is a reminder to visit the site and join the conversation every day.

Really cool so far -

Robert Adams, best of luck with the business and good choice on your part to upgrade to a Pro Account. There is so much you can do on this site and the Pro account is a big plus. It has helped me and my company a ton so best of luck to you.

All the best - Chris

Hernan B. - there are lots of good responses on here from experienced landlords who say yes to accepting cash, my advice is the complete opposite. Then again, we are also a large property management company which means we have some economies of scale to rely on when it comes to collecting payments. Either way, I would never accept cash or check even if I were a landlord managing my own properties. I am a big believer in creating situations where you can succeed with the least amount of resistance and starting off a relationship where you show the tenant that you are protecting them and you can be very beneficial towards keeping a tenant for a longer period of time. Cash may seem clean but it is very messy and risky. The longer you take cash payments as a landlord, your chances go up for a date in court with two sides arguing over what amounts were paid, when the were paid, were they ever paid. If you hire a management company and they allow cash payments, you need need to keep looking. That is another disaster waiting to happen.
on Brian Hoyt's comment, if you are going to take cash, make sure you have a carbon copy ledger book where you sign, they sign and you give them a receipt with all the info including date on there. I think he is at the least doing some things to protect himself. He and Michael Lauther both have a good system if the renter is making a direct deposit themselves. That is something I do like and would love to hear how they set that up and i it improved on-time payments.

Welcome to BiggerPockets Chris D.! You have found an incredible site for learning and sharing everything on our industry. Best of luck to you and don't hesitate to let me know if I can help you navigate your way around. Best of luck -

Chris

Welcome R. Kerry Brooks to Bigger Pockets. You have found a hell of a resource for sharing your knowledge and building your brand. Looking forward to connecting, seeing how you get involved and share your knowledge and hearing about your business.

All the best and let me know if I can help you navigate BP.

Chris

Michael - There are some great tips on here especially the very practical use of easy and free technology like the info that Brad Zerhusen shared. A lot of the other pieces of advice are excellent so I challenge you to not let that fear of being away or needing to change your life style to be an investor stand in your way of getting started. I think all of us had fears as investors including the one you mentioned and you simply find a way to surround yourself with the people you need to be successful including allowing yourself to keep living the lifestyle of travel that you want.

Best of luck - Chris

Tracy Royce - you are one of the fast learners on here who is looking to connect with everyone in their area. That is so smart and you are right, this key word system is going to be a great way to accomplish that.

Gary Parker it is funny how we are obsessed (notice I said "we") and that we literally have no choice but to read everything associated with key words we are following! It will definitely lead to more interaction and engagement.