Saving money, cutting costs

[toomanycamaros]

@pitman

how do you know

Alright poor inference on my part. There are some other member of this forum that based on what they post would probably have the ability to raise the capital to purchase such a building. However like outlined in Jammer’s post below it’s a crap shoot having somebody else manage your property. If you don’t mind me asking what do you do for a living since you said working with your mom wasn’t for you? Not busting balls just curious.

@Jammer

Im sure I am NOT the only one here with income property of any value… I just try to add food for thought here…

6%-10% is normal, depending on quality of property and likely tenants. Renting it usually comes with 1/2 month or full months rent paid to agent as well…depends

how its written.

There are many types of managers, or management companies. In the end, no one manages it with necessity, the way an owner might, if the income is a necessity. When one is fat and happy, its easy to let a place go unrented… just as a lazy manager might do… or a management company may choose just anyone as long as your written qualifications are met. The problem is judgement. Its hard to find management that will think and act like you might as the owner.

I just went 5 months unrented on a 1200 sq ft 4 br near union college by choice. In the end I got what i wanted, because I put a little time in, as did 518Realty. I had a few agencies prior try to place people and its funny how some of the same people I personally turned down, were painted wonderfully from a agency months later cause they were still looking. Meaning, If your not going to do it yourself, its best to have some beans in your pocket to deal with the possible mess of someone elses decisions that may not operate the way you would.

I had a management company handle all repairs once… and when they called in a plumber to replace a water heater, I was billed $1400 for a $375 unit… $1000 to install was no skin off the agency, but iIwas effin pissed. you get the point.

no one does it like you will…unless you suck at it too.

I’m not implying that you are however your the only person who publicizes the information. Also from what I’ve gathered from the posts you have made on the matter your one of very few people who really understand how to take existing capital and equity and really put it to work in order to better your financial position. Honestly I think that America could use a few more people with your mind set and then we wouldn’t have as many problems as we do right now.