All Forum Posts by: Zachary Ray

It comes down to what your time is worth. Managing an asset can sometimes be great with no hiccups or a complete nightmare sometimes. This nightmare usually occurs after a long day at work or etc. You certainly can save some money instead of paying a month fee to a manager but you will have to account your time and knowing that you will be the main point of contact for every single little thing. If your cool with that then save some money, but if your grabbing 12 units here and there perhaps your time is a little more valuable :) Best of luck to you

There is never a wrong time to invest in real estate, you just have to find the right sector and the right market where it makes sense. 

Every property management contract is different. If they charge you a low monthly fee then most likely they will charge you for things like inspections and lease renewals. 

Property management truly is a tough field. You have to wear so many hats to get it going. If you are unable to do so please hire a property manager. For a few properties I'm sure people will tell you an excel spreadsheet will suffice. They are not wrong, but once you get a few more consider a software like cozy or Buildium. Effective managing of payments and documentation is the key to success. Screening is the biggest component so spend a lot of time looking them over. Best of luck to you! 

You should have a lease written up for your protection. With this you can increase the rent but you don't have to jump up quickly. If they don't want a lease then give notice to get them out of there. Once vacated it can jump to market rent and adjust there. Your tenant might be smart and know what they are holding onto. 

@Nathan Gesner is right, you don't want to over complicate it and not know where any funds are. Some management companies use an operating fund and a security deposit account. Best of luck to you. 

As others have stated, the eviction process can be a little more challenging if you received the entire rent up front. If they violate the lease terms then its fair game. Its been done just requires a few more steps. 

It certainly can be tough depending on your location. Just be sure to screen properly and stick to it. Don't let emotions get involved and you will do great. I have noticed many landlords are going to month to month leases instead of long term during the eviction memorandums. 

I can't really blame him, California is a lot to handle right now.

Scared money don't make no money