All Forum Posts by: Justin C.

 No sir, haven't used it yet.  Thinking about it for the next turnaround though.  It sounds like its exactly what I'm looking for.  I'd have to check with my painter to see if she can get it smooth enough to not have to sand.  That will be a deal breaker for me.

on a side note, I lived in Jackson for a few years back in 2000-2001.  Worked at Porter Cables distribution center : )  There was a great BBQ place right on that street that I love!

All the best

The house is finished except for the bathroom where we ran out of primer.  I did some quick research and found Kilz High Build primer.  Expensive, but I wish I had found it prior to painting the whole house!  There are a lot of imperfections on these walls and we used a regular primer and a very flat sherwin williams paint.  Its ok, but nothing fancy by any means.  I think i'm going to reprime/paint the next turn around.

Just curious if anyone has used this before.  The reviews are great.

thanks!

- Messaging messaging messaging! - A menu that allows users to see their own posts - calculators would be great! Good luck guys!

My mentor has made his living with 30+ rentals and a very successful cleaning company.  I own 2 SFHs and have begun my career very strongly under his wing.  We have a great system in play for financing, renovating, and tenant placement.  He does some property management on the side, but its not his primary ambitions.  

Together we have an opportunity to do some local investing for 2 out of town colleagues... one from LA and one from NYC.  

I'm trying to figure out the best setup for establishing a property management firm to cater to these types of individuals.  Here is the standard property management fees that I have identified: 

Free - property identification and email list; this will include number analysis

$100 - inspection/tour fee per property selected from the list; this will include photos/video

2% - Fee due at closing; 1% if over $100k

10% - monthly rental charge

The other missing factor here is that we bring a tremendous value to the table with our property identification and renovation team.  We are very good with both.  Renovating will be a major part in these acquisitions.  I need to be able to figure out how to charge for our established system of nuts to bolts.

Any guidance or suggestions for properly setting ourselves up for success?

Thank you in advance

ok, thanks. I'm meeting with the adjuster Sat from 12-1pm. Im very skeptical for that very reason but it is what it is.  Feel free to post any additional thoughts or concerns.

thanks again

well... crap, lol. Thanks Kevin.  I did call them (USAA) and the rep told me an adjuster would be calling me within 24hrs.  He encouraged me to call someone to relieve any buildup or to stop the leaks but to keep my receipts.  I called a roofer and he came out promptly and had the leaks stopped within a few hours.  

Originally posted by @Jeff Rabinowitz:

The good news is that I have separate insurance companies for my rentals than my personal property.  We'll see what happens... its bad.  Beyond me bad.

Hi BP, It started out with one small leak which i went on the roof and started salting the gutters and cutting troughs in the ice. A week or so later i have 5 major leaks in separate areas of my house. Any tips on filing a successful claim? This is my primary residence. Deductible is $2k. Geesh

Originally posted by @Ralph Pena:

carrying around that much isn't safe.  Ppl will hurt u for much less. 

It helps to educate a seller on what a cash offer really is. Bcuz most of them think all transactions are CASH!  They don't understand the hoops that come with financing a purchase. Like inspection & etc...

Hope that helps. But do what u choose,  I have no fear of carrying money or protection.  But u can't win them all

"Cash deal, $5000 deposit within 24 hours, no contingencies, 10 days to close." 

Not much to educate.  The deposit and signed agreement is dropped off to my attorney the next morning.  All they have to do is show up and sign their part of the agreement and they get their money in 10 days at closing.  The goal is to keep it as clean and simple as possible for them.

If it backfires, then we don't go to closing and haven't lost anything.  Its not exactly what OP is describing but its the next best thing that I have found.  We have a standard purchase agreement that our attorney drafted for us that outlines this process. At the time of agreement, I get the sellers phone number and email and  text immediately upon dropping off the check which is done on the way to work the next morning.  That promptness I have found is key in pushing the envelop closer and closer to closing. This way they can go and sign their part of the agreement or have their lawyer call mine and start the process.  We close 10 days from both parties signing the agreement.

The alternative that I was describing by including a check is that by cashing the check, they are agreeing to the terms.  I have never done this but have heard of people doing it.  I would never give cash, but a check is traceable and can be brought up in court if it ever got that far.

- J