All Forum Posts by: Yogesh Bhadane

@Mike Dymski Nicely said!

“Start by doing what is necessary, then what is possible and suddenly you are doing the impossible”

@Frank Patalano for me it’s the people who I would like to work with. I still feel the deals are out there. Especially OOS I would like to build relationship first, that’s where I find difficulty.

Also, most of the agents who say they work with investors does not know how to provide data/ analysis to convince me as an investor.

@Alpesh Parmar Thanks for taking time to reply. You are right and that would be ideal situation. But at the same time, I want trust but verify.

@Matt Maurice Thank you for sharing your vision 😀

I am OOS investor and there is no reason for me to get into their daily business.

However by the end of the day, it gets even important to have good terms and conditions in Place when you are OOS.

Few things if you guys can shed light on;

1. At what point do you communicate the rent amount to the owner? Does PM provides input to the owner any data to support this? Who has ultimate right to decide?

2. How do the owner know that Tenant is happy? Don’t want to wait too long to fire the PM and then talk to the tenant because agreement says so not to communicate with the tenant directly.

3. It feels odd that PM can cancel the agreement anytime for any reason but owner has to pay the remaining lease amount to cancel the agreement- Is this normal?

@Philip Sparks No issues. Point was clear.

@Nathan G. Very good!

This will help. By the end of the day I am not trying to take away their rights. All I am asking is to do their due diligence by informing the owner about any vacancies, rent changes etc.

I feel like it is fair to ask to keep the owner informed about the decisions they are making which could affect my cashflow.

Few things I would like to note here which I wanted to add into the agreement:

1. Ask for permission if Broker decides to rent to their family members

2. Any expense above certain amount let say $500 a month should be consulted with the owner(consecutive 30 days)

3. Do a regular follow up with the tenant - may be conference call with owner and tenant once a year

Is it fair to ask these items added to agreement? I believe Communication is the key upfront vs. getting the invoice after the fact.

@Philip Sparks Thanks for the feedback. That gives me hope. I should keep looking to strike the right balance!

I am sure some of the landlords who are working with property management companies have experienced this before; just trying to get a feel if my expectations are different than others. One thing for sure, everyone will agree that finding the right people/team is more difficult than finding an investment property.

My criteria for buying investment property is simple: Single family home In a B+/A type of neighborhood in a ready to move in condition. Where there will less repairs and turnovers. (Hopefully)

1. Property management companies are asking extra charge for initial setup

2. Extra charge for any maintenance calls 5-10% markup of the expense

3. They have right to choose who the tenant would be and what to charge them

4. Any visits- inspections or incidental fees (not talking about fire/ weather related)

5. They get to keep any discounts given my contractors/ 3 rd parties

All above are after paying 10% fees of monthly gross rent.

Can you as a landlord negotiate the lease agreement? What is your criteria choosing PM? Is it not normal to negotiate terms upfront and change the agreement for mutual benefit?

Thanks all for your feedback!

Looking to connect with Like minded people in Memphis/Mississippi investors/Agents. Trying to buy SFH in that area.

Thank you in advance!

@Tony Thomas I am In Fairfield.

If there are no local meetups there is no reason why we can’t meet. Either in Sac or SFO.