Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Steve M.

Steve M. has started 14 posts and replied 250 times.

Post: Calgary Investor

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164

I'm not from Alberta, but I will offer you a HUGE HELLO anyways from the great city of Nashvegas!!!!

Welcome, take a look around, and don't be shy -- we try not to bite TOO hard!

Post: Super Bowl National Anthem

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164

the Halftime show was even WORSE!

Black Eyed Peas - Bleh ... Never understood how Fergie got famous. She sucks at singing and besides a tan bod, has nothing going for her.

Post: Fannie and Freddie's Big Foreclosure Backlog

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164
Originally posted by Scott Hubbard:
Originally posted by Sorin T:
Good reading

http://news.yahoo.com/s/bw/1106b4214044575550

As their holdings of unsold homes increase, Fannie and Freddie eventually will need to drop prices and turn to investors, analysts predict

The bottom line: Fannie's and Freddie's strategy of not flooding the market with foreclosed homes may come under pressure as their inventory builds.

They will turn to investors, but these investors will more than likely be large institutional or private equity firms with deep pockets.

My thoughts EXACTLY .... They won't turn to the little guys. It will be firms

Post: How Much Do You Pay Your Property Manager?

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164
Originally posted by Brandon Kamm:
Steve, I saw you had properties in Memphis and were unhappy with your company. We operate in Memphis, I am curious, don't realty care to know who you are using, but what are your concerns? Always interested to hear of issues related to our area.

The turnover and quality of tenant in Memphis is horrible. Outside of Sec 8 tenants, I don't find investing in Memphis worth it anymore.

Post: How Much Do You Pay Your Property Manager?

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164

The three units I have in memphis, the PM company charges 9% .... with that said, I don't like my PM company and would never recommend them.

The biggest problem I have with PM's - Tenant Finders Fee's (Assignment Fee). This can range from 50% of the first month's rent to $300-$500.

So, essentially, the PM will make more money the more turnover you have (the complete opposite of what you want to happen)

I would have ZERO issues paying a PM to find a quality tenant that stayed for atleast a year. If you charge an assignment fee at the END of the lease instead of the BEGINNING of the lease, I think that would be great. It makes the PM find better tenants, and keeps the owner happy with the year long lease ... Everybody wins!

Hey Josh,

Having trouble starting a new topic but I wanted to run something by you.

My office (which I am at roughly 30-40 hours a week - midday) gets on BP Fine. After about an hour, I can no longer get on period. It just completely times out. It was doing it about 2-3 months ago, and just started doing in again a few days ago. I can view/post/etc for about an hour before BP just completely stops loading. I have zero issues navigating to any other site. I have to reboot my router just to get on BP.

Know what might be causing it?

Post: Need someone to look over these numbers...

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164

Zipskinny - 18102

When 25+% of the population is living under the poverty line, I have no idea how you command those rents .... Doesn't look like there will ever be any appreciation, so I wonder how long a strong rent market will hold there.

just my thoughts :)

Post: Business Plan Plagiarizing

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164

Scout ??? haha

I personally have never written a business plan. Instead, I right out my goals, and what I need to accomplish to get to that point.

Personally, I think to many people put too much emphasis on a business plan, and never end up doing anything with that "Plan" and it stays just that.

I can see the need especially when needing business or certain types of commercial/portfolio loans, otherwise, its just not needed.

I have a list set up for each area of real estate that interests me. I don't move forward until I'm ready.

EDITED TO ADD: I do this both in my non real estate business and my real estate business. hasn't let me down thus far

Post: Greetings from Des Moines, IA

Steve M.Posted
  • Realtor
  • Gallatin, TN
  • Posts 292
  • Votes 164

Welcome!!!!! And you're right .... Location is a VERY big deal!

Good luck on future investments!