All Forum Posts by: Sawyer Lubke

@Account Closed A few items I would want to know about a PM company: what does their team look like, how many properties do they manage (might give you an idea if they are staffed appropriately or not), what fees do they charge (management fee, tenant placement, lease renewal, etc.), how long have they been in business, what is their response time to a maintenance request, do they hire out repairs or have employees that fix items, how do they determine how much to charge you for a repair, what items are the tenants responsible for (drain clogs, light bulbs, furnace filters, etc.), does the company have a preventative maintenance program in place, what qualifications do they use to screen tenants. I could keep going on and on. 

I would make sure to search around BP as I'm sure there are good resources on here regarding how to properly screen a PM as well. Cheers, Sawyer 

@Account Closed I would recommend interviewing a handful and making sure to ask the right questions before deciding on which PM to hire. I have a friend who owns a PM company and 100+ units. I can send you their contact info and you can decide if it would be a good fit for you and your properties. Cheers, Sawyer 

@Joseph Sangimino I've received some excellent information from a gentlemen with Evolve Vacation Rentals when I was analyzing vacation rentals on lakes in MN. Send me a PM and I can provide the guys contact info. I found the numbers didn't meet my financial goals so I haven't pursued further. Cheers, Sawyer 

@Bruce RunnCongratulations on working towards getting your GC license! Do you mind sharing the costs and approximate time associated with getting this license? I'm interested to see what the all in cost will be to build now that you will manage the project. This will help us get an idea for the garage builders margin! Cheers, Sawyer 

@Eric Gutierrez I've talked to a few builders about this. Many are hesitant to throw numbers at your because it can vary widely. I've heard $115 sq ft to $140 sq ft. You might be able to build it for closer to $100 sq ft if you GC'ed the project yourself. Cheers, Sawyer 

@Luke Nelson "House Hacking" is a great way to jump into the real estate investing world with relatively low money down while learning a ton. I currently own a duplex and rent out one unit while living in the other. Cheers, Sawyer 

@Ryan Hutton Welcome to BP! I would be happy to grab a cup of coffee or beer and chat real estate. I've executed the house hacking strategy and I would be happy to share my experiences. I live just south of downtown Minneapolis. Send me a PM when you will be in the area and we can set up a meeting. Cheers, Sawyer 

@Jennifer Kate Welcome to BP from a fellow Minneapolis Investor. I would recommend looking into "house hacking". Might be a great way to buy your first multi unit building with low money down and learn the rental business. Cheers, Sawyer 

@Kevin Powell That is a tough and expensive learning experience. I would agree with Travis. I have a friend and colleague that owns a PM company in Minneapolis and owns 100+ units. Send me a PM if you would like his contact info. Cheers, Sawyer  

@Matthew Ward Congratulations on jumping into the real estate game. I would talk with a local hard money lender called Pine Financial (google their name). I know people who have used them for deals with no or very little money out of pocket, however the deal has to be sweet enough. Best of luck, Sawyer