All Forum Posts by: Yulissa Candiotti

Have you ever done property management?, My suggestion would be to find a Property Management Company that you can work at and gain experience, a lot of then have a sale department too, you may find that Property management is not your thing after all, you can do a lot of things with your license, working for a PM will give you the 2 year experiences you need to get a broker license if you decide to go that route, and who knows you may end up becoming a partner or buying the PM business.

Get carpet from them 2 years ago, same deal, prices are really high, for their quality of carpet, they measured way too much carpet, end up costing more than Home Depoe, for the same quality.

Welcome Ricky, I'm in Oakland, what kind of RE investing do you do......?
See you around bigger pockets.

You would be the manager of a Project manager, that manages your contractors that manages your subcontractors, that sounds like a lot of commission to be split. Not to mention that there is a lot more than just the rehab in a flip. I guess it depends on how big are you planning to get to need all these middlemen.
Also real Estate brokerages are not just there to lend their name, unlike what this guys are offering, they are liable for what their agents do, and they do go thru more training and educations than a salesperson does, agents are only independent contractors as far as the IRS is concern.

I agree with Brian, keep it simple.

Not only it is common, for most Property managers it is a necessity, it someone trips and falls in your property they can sue you and the property manager. Usually your insurance will allow them as an additional insured at no extra cost.

If you are budgeting the HML cost in your flip and still get your desire profit, there is nothing wrong with that. Ideally you wouldn't have to rollover your profits every time and just use your start up capital, but if you don't have that capital you are basically rolling over your profits to put together that capital and then maximize your profits by financing your own deals. In my market I found I need to roll over some of my profits into my start up capital to keep up with the raising acquisition prices.

This is a great point too, this house doesn't have enough cash flow to be worth keeping.

Great point.

Thanks for all the questions, it gave me some things to think about. Holding property for cash flow is my long term goal, preferably multi-units, but as Lynn suspected it is now harder to come by a good deal, and it may take a while to get the next property, I don't mind been a Landlord, but to continue to grow my portfolio i do need to get my investment out. Finishes are a bit above average for the area, but nothing that would break the bank. I didn't count with this kind of appreciation, it actually went up so fast many talk about been a mini bubble, I guess the question is. is it better to take my good fortunate and run with it, or to keep a small monthly cash flow and weather whatever the market may or may not bring, having in mind it would take at least 10 years to make the same profit off cash flow.