33 Burst results for "Property Manager"

"property manager" Discussed on Real Estate Rookie

Real Estate Rookie

02:03 min | 10 months ago

"property manager" Discussed on Real Estate Rookie

"Lisa's question is about property management. So here's what she has to ask. I've never had a property manager. What are the responsibilities of one. I was recommended property manager but was sold. They charge ten percent. What is the average pay for a property manager. And what are some of the questions i should ask when i speak with him so lisa. Lots of really good questions here. And a lot of the same questions i had when i i kinda ventured into the world of real estate investing all kind of on the responsibilities i in the national feel free to chime has gone through this. When you have a property manager. I think one of the biggest places that my property manager helped me was obtaining a better understanding of that market so this is big if you're investing out of state which i was doing or you're just not investing in your own backyard where you don't have this really intimate knowledge of the local market having a property manager who owns or who manages ten twenty fifty one hundred units market. They're really going to know. What are the pockets of that city. Maybe where you should look to purchase your first runs omega where you shouldn't so they're just gonna kinda give you the lay of the land another place where a property manager can help if you're a long distance real estate investor especially if you're burning long distance is giving you a sense of what your rehab should look like for me. I was investing out of state. And i had a general idea based on looking at them. The listening to you know. What are some things i should do. But my property manager during the rehab process told me like hey you should go with this nicer flooring because we see a lot of tenants beat up carpet and if you can invest upfront getting some nicer flooring you'll save money during the term when the next ten it comes out in the next one goes in so giving you some guidance here in terms of the level of rehab than obviously when you first get started. They're gonna help you list the place to find your tenants. They're gonna scream those tenants for you. They're gonna manage businesses moved in and they're really just gonna be the face of your business in between you and your tenant blasting like for me. I never even saw my tenants like if we walked pass each other on the street. We wouldn't even recognize each other because my manager was to face for all of that interaction. And i i kind of like that barrier because it let's me focus on the bigger parts of my business and not much the small details that the descendants bring up

Tony robinson tony airbnb joshua tree ashley
Q&A: How Much do Property Managers Charge?

Real Estate Rookie

02:03 min | 10 months ago

Q&A: How Much do Property Managers Charge?

"Lisa's question is about property management. So here's what she has to ask. I've never had a property manager. What are the responsibilities of one. I was recommended property manager but was sold. They charge ten percent. What is the average pay for a property manager. And what are some of the questions i should ask when i speak with him so lisa. Lots of really good questions here. And a lot of the same questions i had when i i kinda ventured into the world of real estate investing all kind of on the responsibilities i in the national feel free to chime has gone through this. When you have a property manager. I think one of the biggest places that my property manager helped me was obtaining a better understanding of that market so this is big if you're investing out of state which i was doing or you're just not investing in your own backyard where you don't have this really intimate knowledge of the local market having a property manager who owns or who manages ten twenty fifty one hundred units market. They're really going to know. What are the pockets of that city. Maybe where you should look to purchase your first runs omega where you shouldn't so they're just gonna kinda give you the lay of the land another place where a property manager can help if you're a long distance real estate investor especially if you're burning long distance is giving you a sense of what your rehab should look like for me. I was investing out of state. And i had a general idea based on looking at them. The listening to you know. What are some things i should do. But my property manager during the rehab process told me like hey you should go with this nicer flooring because we see a lot of tenants beat up carpet and if you can invest upfront getting some nicer flooring you'll save money during the term when the next ten it comes out in the next one goes in so giving you some guidance here in terms of the level of rehab than obviously when you first get started. They're gonna help you list the place to find your tenants. They're gonna scream those tenants for you. They're gonna manage businesses moved in and they're really just gonna be the face of your business in between you and your tenant blasting like for me. I never even saw my tenants like if we walked pass each other on the street. We wouldn't even recognize each other because my manager was to face for all of that interaction. And i i kind of like that barrier because it let's me focus on the bigger parts of my business and not much the small details that the descendants bring up

Lisa
"property manager" Discussed on Real Estate Rookie

Real Estate Rookie

05:59 min | 10 months ago

"property manager" Discussed on Real Estate Rookie

"Estate rookie episode number. Ninety six. my name. Is ashley care. And i am here with my co host. Tony robinson tony. How are you today. Actually doing not the best today. Because i just got some bad news we had a property for cell. Were one of our airbnb and joshua tree and it was under contract and the byron number cancelling the contract to purchase it so like a bunch of other properties like right after we listed ours went onto the market and some relisted a little bit lower than ours was to the buyer statement was that they wanted to explore some of the other options and they did it within their their due diligence period. So we couldn't even keep their amd so now we've got a real estate property and hopefully find another buyer that see some value in it. Do you think as a buyer or a seller. Do you think that when you see a property that was under contract and then it's back on the market that maybe something is wrong with that. Do you have a little bit of that automatic assumption. Yes so that's a really stinks about that. People are going to see. It was listed case pending. And now it's back on the market. And i i was even talking to my partner like we now relisted a potentially at a lower price. But i think we're both confident and the joshua tree market kind of where it's at right now and in the property that we're selling we're provide an actual financials with the property and how will done so it might take a little while but we feel fairly confident. We'll we'll find the right buyer for it. Well i'm sorry to hear that thing.

Tony robinson tony airbnb joshua tree ashley
"property manager" Discussed on Elder Law Issues Podcast

Elder Law Issues Podcast

01:54 min | 11 months ago

"property manager" Discussed on Elder Law Issues Podcast

"Right now So what kinds of difficult problems of you had to deal with like that Wall sometimes it's just the family dynamics There's a lot more Dysfunction i think when it comes to pro bates remember the case where we were in the basement of our old office lane. Everything mom owned out on tables and having the three or four daughters. I can't remember how many there go go through items one at a time. Selecting them around robin you spend a day and a half on that project. If i remember. Yeah yeah that was in. Maybe not the most efficient way but it was the only thing we could get them to agree to so Yeah i think the other things are when we have Estate assets in states or other countries or airs and other countries. Of course that makes it all more cumbersome so before you ever came to fleming kirti. Did you have any vision. That you would be handling. Probate for polish citizens are selling race horses or any of the things that you're doing. No now i did. Not i have to say. But that's okay. We're happy to keep you entertained and active. I've been chatting with heidi house. Child who is both the property manager and the primary probate paralegal legal assistant at flemington kirti guilty. My name's robert fleming. You've been listening elder elder law issues. We do this once every week. We are going to over the course of the next year. Try to kind of work through our staff and introduce each of them one at a time and heidi thank you for participating in that project and we all hope that you will join us again next time for elderly issues thanks..

fleming kirti bates heidi house robin flemington kirti robert fleming heidi
"property manager" Discussed on Elder Law Issues Podcast

Elder Law Issues Podcast

04:20 min | 11 months ago

"property manager" Discussed on Elder Law Issues Podcast

"Coin collections Sometimes gold bars or silver I think that's been the most recent things that we've secured. So you've seen a lot of property in probate estates and entrust that we've taken over a little less but still psalm and conservative ships where we have become someone's conservator have some general observations about the value of people's stuff People don't like to hear it. But i would say in general People have a high estimation of what their stuff is worth In general specially with younger generations. They don't they don't want the stuff So stuff just isn't worth In some you know. Oftentimes it's not even worth selling we. We ended up donating a complete household worth of stuff And when it is sold the cost of of the sale. Not just the cost a pain you and our office to manage it but the actual commission that you pay salesperson. What thirty forty yeah. It's usually forty five to fifty percent If you're doing an estate sale for example So you have to factor that in plus our time so And during the pandemic there were fewer estate sales for obvious reasons They're starting up again. Although the summers always slow for that type of thing so yeah you do have to kind of find the best place The best venue to sell things. So it's coins and gold and jewelry. I would go direct to to vendor as opposed to having the state sale. So here's the question that i've actually wanted to ask you a often. Never gotten around to now. I've got you on this phone. What what Background predisposed to be doing this kind of work. Did you go to property. Management school is their management school. How do you learn the insurance ins and outs and the and the real estate tax appeal process and all the bits and pieces. You have to do Pretty much. I learned on the job little by little so no i did there to my knowledge is not property management. School there is you know Like project management school. but that's more construction I had an interest in stuff. I both of my parents were collectors. is an old fashioned name for orders. Not no no they serve you know. They enjoy antiques. And things like that So i had an interest in stuff but the insurance i learned over time And i've learned a. I've got a you know a good insurance agency that we work with that has also learned what we do. And so we've come together and we're a good team good partnership Yeah the other things you just read up on how to do it and you do if you and that's how you learn so i've That actually is one of the things i enjoy about. This position is there's always something new and different You know a rodeo horse will do. I saw that. I figure it out and that makes the job more interesting. How long have you boomer at flemington kurdi. It'll be fourteen years. Yeah seems like yesterday. The other thing that you do. And i just want to talk about it. A minute is that you are the legal assistant who is primarily responsible for handling probate proceedings. You prepare the pleadings talked to the clients get this court scheduling and do all of that. I'm guessing that's not as exotic and entertaining though. I know there are a few a few stories in that regard as well. I i know we're dealing with an estate in a foreign country. I didn't get that right states here. The errors are in a foreign country..

Like project management school flemington kurdi
"property manager" Discussed on Elder Law Issues Podcast

Elder Law Issues Podcast

02:14 min | 11 months ago

"property manager" Discussed on Elder Law Issues Podcast

"Sometimes yeah we've had a fair amount Especially recently i think we're buying a couple tusla's that's kind of exciting and we are just of course kind of coming out of the pandemic is that is that changing the kinds of things. People want to acquire or the kinds of things that we see through the office. That's a good question I think in general in tucson as in other places real estate is kind of a hot commodity right now. So i think the general thinking is that has something to do with the pandemic And i don't know about car if it's affecting car. Purchases are not. Because i remember that we realized that we had purchased to tesla's recently the first two tests. Was we ever have an. I wondered if that had something to do with the pandemic not and the real estate market. And what's going on right now. We've been on both sides of this. These transactions i know where we list a property and his cells within twenty four hours. I think in one of our cases for more than the listing amount. I think a couple times. Yeah and we've been on the other side of that where we've been buying houses and had to offer more than the listing amount in order to secure how. Yeah it's a bit of a desperate time to be a buyer which probably makes harder for you to accomplish your tasks because everything is compressed in time. Yeah it is. It's i mean it The buying and selling stuff innately italy. Become more of a you know an issue as far as the timing and and and there's not a lot of leeway there so i know you have a not exactly the safe but a locked room behind your office. Safe anderson actually have a safe in. The locker room was thinking of the larger space. What what kind of stuff comes through the office that that needs to be secured at least temporarily this year. There have been a lot of firearms. ammunition jewelry savings bonds.

tucson tesla italy anderson
"property manager" Discussed on Elder Law Issues Podcast

Elder Law Issues Podcast

04:02 min | 11 months ago

"property manager" Discussed on Elder Law Issues Podcast

"Firm of. You're listening to elderlaw issues. Usually i have conversations on these regular podcasts with my partner both in practice and in and in podcasting elizabeth noble rawlins freeman. But today i'm joined by someone else from the office. Heidi house child is actually. Heidi has two different roles in our office. She is the legal assistant who is primarily responsible for probate proceedings. And she's also the property manager at flemington kurdi which is An unusual job. Description that i'm going to ask her to explain to you. Heidi thank you for sitting down and joining me with on this sharing. Thanks for inviting me. I know you're gonna have a blast for those of you. Don't have the opportunity to watch heidi right now. Oh that would be everybody but me. She's looking very nervous. Like something very bad is going to happen. I promise nothing bad is going to happen. All right heidi. I promised also our listeners. That that i would talk to you about property management. I think most law firms don't have a job title property manager But we do why. Why do we need somebody to do. Property management Because we're responsible for a lot of property for various wards and also property related to states and pro bates and trusts and property means gold bars and dubloons than sometimes. Yeah we've had a fair amount of gold bars It also can mean rodeo horses. Airplanes farms in north dakota hotels near the border Airplanes lots of houses. You name it. yeah. I'm impressed that you did real estate. We you handle a lot of real estate and not to say. That's the the core point of your property management job but that's one of the things that we do. So what do you have to do with real estate. Depending on the situation A some sometimes. At least part of the time i have to clear out a home Get it ready to list. And sometimes that's a pretty easy process on sometimes it's It's a hoarding situation. For example it might be a big job. No that we recently had a piece of real estate. Come into the office for from someone who had had been a hoarder and lived in a quite a while that we had people in have has met suits out there shoveling out. Yeah there were about one hundred mice living in the house. I didn't know that anybody counted them. Well it was a lot more than usual one. Two three Yeah so that was One of the dirtier jobs and fortunately we got has met out there to do the icky part And so now we're dealing with rodent infestation and then will i assume get the house ready to get on the market and it's not just selling houses. Sometimes we're in the business of buying houses That goes through your office right right and then just managing houses paying utilities making sure. A proper insurance is in place For cars and houses on an ongoing basis Hoa's are paid and kept happy. that type of thing cars. You mentioned we have to do with the insurance on cars. Are you in the business of buying cars for trust beneficiaries..

elizabeth noble rawlins Heidi house flemington kurdi Heidi heidi north dakota
481: Build an Unstoppable Real Estate Portfolio with the Core 4

BiggerPockets Real Estate Podcast

01:57 min | 11 months ago

481: Build an Unstoppable Real Estate Portfolio with the Core 4

"David. First of all the core came from your book. Long distance. Real estate investing. That's where that concept came from and today we're not talking about long distance. This applies to local as well But which of those four we mentioned earlier. It's like you're deal finder which is typically a real estate agent. But it doesn't have to be. We can dive into that in a minute. Agent lender contract or property manager. Which comes i do. Think i like to look for the deal finder. I and the reason is the deal. Finer will usually have them biggest network in the most access to the other. Three pieces smart. Okay so let's let's dive into an interview with your concept. The agent versus not agent The difference being on market or some marley. You explain that real quick for those people who have no idea why you'd use an agent wouldn't you. Yeah that's a really good question so you know before we do that. Maybe we should break down why. This is an important thing so brandon. I have found ways to control talking politicians style all the time. Thank you for asking that question. Let me answer the question. I wanted to ask the first place. And then say i'm glad you asked. Even they didn't brennan. I were sitting. You're talking about where we had quantum leaps in our business. Okay so when when. I got this piece. Everything changed and for you. That are listening to this. There's actually a point where you're waiting to take that quantum leap to and that could be buying your first house buying your second house buying a bigger property just writing an offer could be a quantum leap in the progression of i wanna be a roasted investor to own real estate and what we found. Is that every time we didn't do something either. We didn't know it. we didn't trust ourselves. There was a fear that if we go do this. We're gonna make a mistake right. And when we found the right person to put into that place all of a fear went away and we've found ourselves taking action so often times we like whip ourselves back like you need to do better. You need to get out of bed earlier. You need to do all this stuff but the answers that life is usually trying to give us come from saying no to something or stopping doing something.

Marley David Brandon Brennan
New York Doormen Who Stood By After Brutal Attack on Asian Woman Are Fired

Richard Eeds

00:24 sec | 1 year ago

New York Doormen Who Stood By After Brutal Attack on Asian Woman Are Fired

"New York City doorman who stood by as an Asian woman was brutally assaulted have been fired. Security video shows the dorm and inside the building as the alleged attacker stomped on a 65 year old Asian woman last week in Manhattan. Property managers, the Brodsky organization said, even though the doorman emerged to assist the victim and flag down an NYPD vehicle emergency and safety protocols were not followed.

Brodsky Organization New York City Manhattan Nypd
The Mystery Of Houska Castle

Unexplained Mysteries

04:52 min | 1 year ago

The Mystery Of Houska Castle

"The most famous legend about host castle says it was built over a gateway to hell if that's true. Unfortunately there's no way to prove it. The question of whether a fiery afterlife exists is better left to theologians and philosophers but host gay isn't the only place that allegedly hides a portal to the underworld take for example. The stole cemetery. Otherwise known as america's most evil graveyard. It's a burial plot in remote. Kansas on the surface it's a bleak creepy looking necropolis. But according to legend it's much more just beyond the graveyard an abandoned church looms over the headstones and grassy walkways. Perhaps at one time it was elegant and beautiful but any hints of its old majesty have long since faded away by the nineteen nineties all that remained or a few crumbling brick walls without a roof. The church is significant because it supposedly sits atop a gateway to hell local legends says that in eighteen fifty lucifer himself emerged from the underworld afterward. Rumors suggested satan would rise in the graveyard twice a year. Once at midnight on the spring equinox and again on halloween and for decades locals apparently gathered for parties to watch the devils entrance only to be disappointed year after year when he never showed but while there may not be any satanic sightings inexplicable events have happened around stole cemetery in. It's church for example even though it doesn't have a roof the house of worship is said to always stay dry. Even when it rains people have reported seeing floating lights shadowy figures that vanish into nothing in rings of flame that appear out of nowhere these fires hovering the air. Even though there's no visible fuel source to keep them let you may be tempted to visit stole and see these phenomena for yourself if so you're out of luck rowdy. Crowds in supernatural enthusiasts. Repeatedly caused property damage forcing the owners to close the cemetery to the public in two thousand and two. The property managers demolished the church. It wasn't structurally sound and as far as we can tell. This destruction didn't unleash any demons upon the world which suggests the stories were just add stories but stole cemetery isn't the only alleged portal to the underworld in sunny southern california the la suburb of pasadena secret that surprisingly dark. The aptly named devil's gate dam was constructed in nineteen twenty two control flood waters coming down from the san gabriel mountains. The structure was named after a nearby odd-looking rock formation that vaguely resembles a horned devil face but before the dam was even built dark myths and legends suggested this stony shapes weren't the only demonic influence in the region in the nineteen forties. A man named jack. Parsons became convinced. That the devil's gate dam held other worldly power today. Corson's is famous for being one of the founders of the jet propulsion laboratory but he was also an occultist who belonged to alastair crawley's mystical secret society or does temporally orientalists. If you're interested we've covered croly and order tempe oriented extensively in our show secret societies but for our purposes. Here all you need to know is crowley was an extremely controversial occultist and magician once labelled the wickedest man in the world and he allegedly referred to the devil's gate dam as one of the seven gates of hell giving cronies association with the area. It comes as no surprise that parsons is said to have performed magic rituals at the devil's gate but some believe persons may have opened a portal to another dimension or to the afterlife itself. This sounds difficult to believe. But there's evidence to suggest that something strange was happening in around the dam in nineteen fifty-six a thirteen year old boy and an year old girl both went missing while biking through the area.

Castle Kansas Devils Satan America San Gabriel Mountains Alastair Crawley Croly Pasadena Corson Parsons LA California Tempe Jack Crowley
Washington DC landlords, property managers settle lawsuits over living conditions, pandemic evictions

WTOP 24 Hour News

00:44 sec | 1 year ago

Washington DC landlords, property managers settle lawsuits over living conditions, pandemic evictions

"Settling lawsuits in D C over shoddy building conditions and other acts. D C Attorney general Karl Racine announcing a host of agreements that begin with the Northeast landlord who was sued almost three years ago. Thomas Kay Stephenson, who runs to rent controlled apartment buildings, and Dean would was accused of forcing tenants to live with rats, Roaches, mold and inconsistent heat and hot water. Stevenson is now paying more than $600,000 in restitution to tenants and district penalties. Another owner who operates a building on cue street in Southie. He was also sued, agreeing to address security and gun violence around the property. And Racine also says the property management firm Lincoln will pay more than 17 Grand to D. C for improperly evicting tenants at war ones. Yorkshire apartments during the pandemic. Kenzo FEA W T O P News

Attorney General Karl Racine Thomas Kay Stephenson Southie Stevenson Dean Racine Lincoln Yorkshire
New York City Public School Seniors Say The Pandemic Is Shaking Up And Slowing Down The College Application Process

All Things Considered

04:01 min | 1 year ago

New York City Public School Seniors Say The Pandemic Is Shaking Up And Slowing Down The College Application Process

"Carlson. New York City public school seniors are now in their second semester, and that's historically a time to take a breath after completing college applications, But some students are still scrambling to submit essays and complete financial aid documents. W. My CI's Jessica Gould reports. That's only one of the ways the pandemic has shaken up the college process this year. Just a few days ago, Joshua Sr was sitting in front of his computer sending in his last college application to Howard University. I can't believe it a school y'all and This my final application. Wow. Yes, Josh goes to Brooklyn Tech, and he's a superstar. He's an a student with high test scores. He loves biology and Mandarin. He always planned to apply to college and the Corona virus didn't change that. But it did make it much harder. There were no campus visits or college fairs. He couldn't pop by his counselor's office to brainstorm. It's very much me in front of my computer like 12 A.m.. The night are in the early morning hours. This like China, think of things and there was no one to look over his shoulder while he filled out financial aid forms. I was so scared. I was gonna mess up Maybe one figure and You like label of fraud or something. But he says the biggest challenge has been juggling all his new responsibilities at home. Josh lives with his father and sisters in bed Stuy. His dad is a property manager who has been working around the clock since March. So Josh takes care of his 98 year old grandmother a week. My grandma every morning, I'll put her on the heart of party that's next to her bed also helps one of his sisters who has autism with remote learnings. I've had to kind of fill in as a teacher kind of helping her out with some of her homework, he says. For awhile, college applications just had to take a back seat to his other obligations. And experts say that's been a common theme this year. Angelique Figueroa is a counselor with a college bound initiative, a process that would have ended completely in December is now being pushed into January and February, she says. Part of the challenge has to do with applying remotely. She thinks the main reason is because students are under so much pressure, and some of their parents have lost their jobs. So now they have to work and they have to be able to provide And, um, I'm sorry I'm getting emotional, but I think that that is why it's taking them so long because they have to now. Not only be a senior Graduate from high school and be the first in their family. But now they have toe provide financially for their families. Like everything else with the pandemic. The impact on college applications depends on where you sit on the economic spectrum. With no s A T or a CT this year, applications over all appear to be up. But applications by students from low income families, students like Josh, who qualify for few waivers are down. Eric Waldo is with the common APP, which allows students to apply to hundreds of colleges at once, certainly a decrease in applications from first generation and low income students. And that's been probably the most troubling takeaway. He says. It's not surprising given how much families are struggling with finances and with loss. He says. Covert. 19 has also underscored how important it is to go to college. Having a college degree is actually was protected people and giving them the ability to stay home it all from the pandemic. It's been a life or death issue, so to be is that much more important that we you let this be a really a clarion call to all of us to do more to make sure students are applying to school and that they're actually showing up and going to college. That message isn't lost on Josh Sr. It's really just a question of where he'll be going next year. He's still waiting for responses, but he's already gotten a few, including this one from SUNY Binghamton accepted Yeah. First college acceptance ever he hopes many more of these are on the way. Thank you. Lord Jessica Gould w N.

Josh Jessica Gould Joshua Sr Brooklyn Tech Angelique Figueroa Howard University Carlson New York City Eric Waldo Autism China Josh Sr. Binghamton Lord Jessica Gould
Targeting New Builds to Get Around the W-2 Requirements for House Hacking with Andres Bustamante

Real Estate Rookie

05:45 min | 1 year ago

Targeting New Builds to Get Around the W-2 Requirements for House Hacking with Andres Bustamante

"Andreas brother. Welcome to the real estate ricky. Showman excited to have you on. Thank you so much for giving the opportunity. I appreciate it. I'm going to dive into your store in a bit here but before we do share with us a little bit about you got you in a real estate. And what brought you here today to chat with this. Of course so right now. Twenty four years old on from el paso texas. And i started in austin when i was nineteen. I got into the university of texas at austin. And tell you the truth. I was an undeclared business major. But i thought i wanted to do supply chain. I had heard one of my friends talking about supply chain. And i was like dude. This school saw apply for that got supply. Gene was really what i wanted to do at the senior freshman year. I got my real estate license. Just out of luck. I initially wanted to be a lifeguard. And i did not my certificate so i said you know what. Let's just do real estate because a friend told me they thought i'd be good at it so freshman year sophomore year. I did a lot of leasing. And i met a lot of people junior and senior year. That's really picked up. And with leasing i was able to become financially independent from my parents was able to pay my housing expenses and my college tuition which was amazing so fast forward i graduated with a degree in international business and real estate and the summer of two thousand nineteen was really like a. What am i going to be doing. Am i going to be doing fulltime real estate. In which is commission based or am i going to do commercial real estate. Which was what i initially wanted to do. Which is an eight to five job. So i read a lot. I listened to your pocket. That's very much started. Summer of two thousand nineteen and i decided to trust my gut and do three months four months of fulltime real estate. So i go back to austin in november. I need the of course. Hope through bigger pockets. He had an episode at the end of that. Diego mentioned season austin. And i was like wow i should just reach out so i give him a cold call. We meet up. And eventually i get on his team in january of twenty twenty and fast forward to now first year of real estate sales. I've done fifteen closings. I have fifteen hundred contracts that are going to close year and one house hacked. I currently live in another house under contract that closes in two months and an airbnb. That's going to close in four months. That is an amazing story. And the i love the most is that you started out as a leasing agent because i always push for people to get into real estate somehow to learn how to do it. They're nervous or they don't even know what exactly real state can do for you as an investor. So what would be your advice to someone about getting into a position like that. Leasing agent property management. How did you get that job with having no other real estate experience. Of course i mean with this my friend thankfully he just told me on the rest. I think you'd be good at it. You're people's person and you get along with people easily so like you know what i'll just do it. I applied for the job and at first it was like you know what i'll just least once in a while but when i started doing it a law junior year when i noticed that real estate really gave me the time to do real say whenever i wanted so if i had finals like you know what i'm not gonna do real estate this week. I'm going to focus on finals and i didn't. I could do real estate and also the fact. They didn't have my own boss. So i decided by wanted to kill it in real estate. I'd go all out. And if i didn't i mean i could see the results so with this that really let a fire in the and it was crazy just setting the systems through my freshman sophomore year to get clients referrals. The property managers. I just let them know. Hey i'm gonna send you to clients over the property. Managers are like all right. That's fine and if they signed it'd be like five hundred dollars per bed. Or a percentage of the monthly rent. So that was amazing. I really really enjoyed that. So how that was set up was you were a realtor working for a brokerage and you reached out to the property managers in lease them. You weren't hired by the property. Managers per se correct. So as onus agent you get to take clients for example. I have some clients. They give me their needs. Ask a lot of questions and then from there. I'm like okay. Three apartment complexes apartments really they offer incentives for realtors the commission because of the fact that they need people. So i'm the one bringing the people and they give me a commission. Because i was the one that brought them so i mean all of my friends. Group were my clients. Everyone needed a place to live so with this. There was like the perfect job in college. Had my own time. And i didn't have a boss and i mean junior and senior year through the money i made i was able to pay for college and housing and then through a reversal that i got through leasing. I got to do a one point. One million dollars sale i ever sale and i swear i did not know anything about sales that i just dove into it with a partner because when i got that sales referral. My friend has like yeah. He wants to lease on the phone. Like what's up dude. What's your criteria. Like yeah my budget's a million to three million solves like i had no idea what the do sales like. Okay i'll give back to you. I partnered with one of my friends and long story. Short i learned. Hoa was which. I didn't know what it was before. I learned a lot of other things that experience and yacky closed on one point one million dollar condo

Austin Showman Andreas Ricky El Paso University Of Texas Gene Texas Diego HOA
"property manager" Discussed on KLBJ 590AM

KLBJ 590AM

01:57 min | 1 year ago

"property manager" Discussed on KLBJ 590AM

"It's like noise cancelations technology you've ever had those nice headphones and you turn them on. It cancels all the noise outside the headphones. That's what this is like Dr Malone from advanced pain care on the advancement of spinal cord stimulators. This device has been around for around 30 years. The big breakthrough came about three years ago. When scientists and engineers were able to pinpoint the exact frequency that pain signals travel on and were able to tune this device to mimic that frequency and essentially block it. Almost half of my patients that undergo this procedure have failed back surgery. I'm trying to get the word out there that this is where you turn now Failed back surgery is a great candidate for this procedure. I've seen people shed tears of joy in the recovery room when they wake up from their light anesthesia and we turn this device on and they realize their back. Pain is gone. They crashed. The joy we have 11 locations, seven in these central Texas area. If your pain is too much to bear call advanced fame care 512 to 44 40 to 72 Austin. Pain dr dot com. This is property manager Mary Oh my gosh. They saved me. They saved my runners and they saved me. I was very thankful on how she was saved from a potential residential catastrophe. I was in a role behind. I was getting on a plane and I got a call from my tenants. Water was coming up from under the foundation and through the hardwood floor. That's what Called accurate leak in line accurately kin line the trench lists. No dig experts have saved property managers and homeowners. Thousands in unnecessary repair costs. Accurate leaking line saved me hundreds and landscaping alone. Seriously, I'm not. I'm not getting. I think the best experience I had with accurate leaking Lina's. They were very efficient. They quickly found the leak and capped it off. They were able to reroute the water lines without digging under the foundation or digging trenches through the yard, called the team of Master plumbers and accurately kin line 512. 219 53 25 to 1953 25. They went above and beyond. Seriously, I'm not. I'm not getting incredibly happy..

Mary Oh Dr Malone property manager Austin Lina Texas
Millennials heat up Seattle housing market

Seattle Now

07:41 min | 1 year ago

Millennials heat up Seattle housing market

"We've all had a lot more time to assess our living situation since the pandemic and it seems a lot of people are making the move to homeownership but that doesn't mean it's gotten more affordable. In fact, Seattle's real estate market is hotter than ever. We've got the fastest rising house prices of any city in the country after Phoenix prices here jumped seven percent in July since last year despite the pandemic Catherine Shema belong is a real estate reporter at the Seattle Times she's here to explain hi Catherine. Hi Trish. Thanks for having me. It's good to talk to you again. The heat in the real estate market here is surprising to me given what I keep hearing about the economy were you surprised Oh Yeah I was floored I think it's counterintuitive to a lot of people as hundreds of thousands of Washingtonians. Lose their jobs that home prices would continue to go up. Yeah and where is the growth the market coming from this time around? What are people doing here? Well. That's another thing that's really surprising A lot of the growth is coming from first time homebuyers specifically millennials people who aren't normally interested in buying homes but we're in this sort of perfect storm where it's cheaper than it's ever been to own a house because mortgage rates are historically low that's incentivizing a lot of people who might not normally have started their house search to get on the market. It's also incentivizing people who already own homes who might have sold them to hold onto them to refinance to take some cash out of their homes maybe a to better weather what's coming in the pandemic? But inventories. So number of homes that are on the market is very low lower than it's been by some counts in two decades. Simultaneously Demand just keeps ticking up that is a formula for rising house prices right there high demand low inventory, but I want to break this down just a little bit because from what I understand about millennials right? They don't have a ton of money. They are first time homebuyers. About getting into a market where the median home price is around seven, hundred thousand dollars are the overextending themselves. Well, most growth that we're seeing it actually concentrated in the more affordable end of the market. So homes in the Seattle Center prices are going up, but they're more or less where they were about a year ago homes in places like Tacoma Lake Taps Auburn up north in snohomish county. That's where prices are really writing. We're seeing price growth in the double digits for homes that are less than four, hundred, sixty, thousand dollars. That's for the millennials are buying their homes and and that's really affecting affordability for a lot of people in the Seattle Area That's still an awful lot of money to break into a market I. Think if you live in the Seattle area, you just get used to seeing incredibly high housing costs. But again, when a millennial enters into an agreement to buy this large large purchase, are they banking at this point on a market that's going to continue to grow because I've been around long enough that I saw people get underwater really quickly when the market didn't pan out the. Way They thought it was going to a lot of experts that I've talked to think that Seattle's market is destined to keep growing maybe not at the scorching pace that we're seeing right now. But Seattle like San Francisco is afflicted with what we call the curse of the superstar city. There's so much wealth concentrated in industries like the Tech Industry for instance, and that really drives up housing prices that wealth those incomes they're out of set in some. With the cost of living for the rest of the people who live in the Seattle area. You also reported Catherine that people are leaving their apartments in troves. What's driving that? Things are driving that one. We've already talked about the low mortgage rates that's really pulling people out of their apartments but I talked to a couple a couple months ago who said they're both working from home and they said they were just getting sick and tired of stepping all over each other during the day. One of them's working in the bedroom. One of them's working in the living room and they were sharing a bell an apartment, and me just really wanted to see some green. They ended up moving to manage quality of life. They're getting a little more quality of life what about people though who can't get into the market right now? Is there an advantage to renting since so many people are leaving their apartments. There is an advantage to renting. We're seeing that rents in the Seattle area have dropped by nearly ten percent since the start of the pandemic, and that's not even counting the discounts that landlords property managers are offering attendance. Some of them are offering as much as two months free rent. Those are big savings right now. So if you can find an apartment, Dow was a good time to sign a lease, but there are some real. Losers from the current growth even a mortgage rates are lower than they've been any time ever. The ability of people to get a mortgage has become more constricted ben anytime in the past six years, we look at something called the mortgage credit availability index, and that's lower than it has been since March twenty fourteen. What that means is that it's harder for people who don't have corporate credit to get a mortgage and we know that. Black Americans Americans of color are disproportionately likely to have lower credit scores than their white counterparts. What that means is harder for black. Americans. To afford a home now and West before the pandemic right banks are much less willing to give money away at this point to people who don't have perfect credit, which really really leaves a lot of people especially in the Seattle area where it is really hard to live out in the cold. Here do you think that there is a tipping point for the Seattle market where home affordability just becomes too much and people end up like just packing up for the suburbs or for a different state because like I said, we see these housing prices in this area and I look in other parts of the country and I think oh my gosh you know I could do a lot better for myself. I think the answer is yes. Then, it started I realized that I could afford to rent a larger home outside of the city packed up and moved in our north. I think that the pandemic is giving a lot of people the chance to reassess whether living that being said I don't necessarily see price growth slowing down appreciably in Seattle in the near future. We just have so many people with so much wealth in the city and the wealth and poverty gap here are just getting wider. It's becoming more and more obvious that the line between making it and. Not Making it is pretty thin here. What about people who aren't rocking a tech salary in this city? What is the other side of the picture for them? The other side of the picture is getting forced out of neighborhoods they've lived in for a long time because they can't afford riding property taxes and moving out into south King County, Pierce County, snohomish county, or even further outside of the Seattle area. The last time we talked you were downtown in billtown looking out at a pretty empty city Catherine where are you living these days? These days I'm I'm way up north I'm actually Skagit County. Where I can have a house with a yard and a new puppy. So you are an example of what's going on in the city. You're not just a reporter live the life. That's right. I know it's happening because I live it. Catherine Shema belong excellent to talk to you. Thanks so much for your time. Thank you, Victor.

Seattle Catherine Shema Seattle Times Reporter Snohomish County Phoenix Trish Skagit County Billtown Tacoma Lake Victor DOW Troves San Francisco King County Pierce County
"property manager" Discussed on BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast

05:38 min | 1 year ago

"property manager" Discussed on BiggerPockets Real Estate Podcast

"To cash out fifty percent of your portfolio took to buy a house in Italy to go live and and let your property manager. Run the other fifty. So there are advantages to having these subdivide. -Able Assets Light Brandon said instead of focusing on the problems focus on the solutions work on your systems work on your.

property manager Brandon Italy
041 - Investing In Rental Properties

Live Blissed Out

16:44 min | 2 years ago

041 - Investing In Rental Properties

"This is episode forty one on the list our podcast did you know that historically in the United States? A red door signified that a homeless, a safe place for travelers to stop and rest. He people would paint their doors. Read to communicate that they are welcoming. It is a sign of inclusion and signifies that they value community. Hello action takers welcome to live blissed out a podcast where I have authentic conversations with business owners and subject matter experts to help us get the scoop, the four, one one, and the low down on a variety of topics, tired of hesitating or making decisions without having the big picture WanNa be in the know then. This is the place to go I'm your host Mersa Houston helping achieve bliss through awareness and action. Thanks for joining me the information opinions and recommendations presented in this podcast are for general information. Information only and any reliance on the information provided in this podcast is done at your own risk. This podcast should not be considered professional advice. Sending a coffee Mug shot. Shout out to Peggy L. IN CENTENNIAL COLORADO. Thanks for filling my Coffee Cup Peggy and being such a cool being. If you'd like to help, keep me fueled head over delivery style, dot com, and click on the caffeinate Matab to give me a boost and redeem your bonus as a thank you for supporting the show joining me is. The Mozart of real estate at the Denver one hundred whether you're buying your dream home or selling one. Tim makes it happen. Tim, we'll orchestrate the buying and selling of your real estate with is finally to knowledge of relevant market trends, maximizing Internet and online state of the art, high traffic exposure expertise in negotiating skills attention to every detail with trusting confidence, resulting top dollar for his. His clients. If you're investing in residential real estate, he can make your profits. or Tim serves as the President of the board of directors for the Sensory Processing Disorder Foundation and chair of the Grievance Committee for the Aurora Association of Realtors. He is a twenty year member of the Littleton Symphony and is dedicated twenty years of life in the Colorado Army National Guard. Tim gives back. Back tastes community clients and service providers to learn more visit Tim Hoi men Dot Com, searching for a minimal versatile handheld Tripod look no further switch pod works with any camera from a phone to a DSL LAR and simplifies video. Making switch pod is lightweight compact in nearly indestructible. It will save you time between shots, so you can focus more on shooting and less on messing with. With your gear just head over to the partners tab at liberalist out dot com and click on the switchboard link to let them know. I sent you and help support the show. Hey, Tim, it's great to have you on the show today. Well, thanks for having me really appreciate it Marissa well. I'm looking forward to talking to you about rental properties. There are many reasons why. Why people want to purchase a home as we all know, people buy homes because they plan on living in them, or perhaps they're moving to a different location, and they need to get a home, or they're up sizing downsizing. There's many reasons, but in particular we're going to be going through the process of how to consider using property for either investment or current income, so like to. To start by asking you. What are some of the considerations that somebody should have if they were to decide to buy a rental property in terms of the purpose whether they want to use it long term, or as a way to increase their income on a monthly basis, I'm a big proponent of long term planning and long term thinking so really. There are strategies that I. I look at when a person is thinking about going into the landlord business. I is understanding that you are buying future income, so you are sacrificing a little bit now for the future, secondly is appreciation. The way houses appreciate in price is a bonus. I don't really consider that a primary factor but man. It's really good if you look at the history of owning houses third you. You. WanNa buy quality or break, even cash flow properties, so the cash flow at the beginning isn't so important, because the goal is that you own rental properties free and clear me no mortgage. That's where the magic is with owning investment properties speaking of that then how do we get to that point? So? Of course we're going to be talking about money and how the money? Money is going to be invested and there many ways to approach that we can put a minimum down payment and get a mortgage. We can put a larger down payment. We could probably cut the amount of payments that we put in so that we can own the home faster, or we can even pay in cash if we have it. So what are some of the options there? There and the pros and cons because I'm sure there are benefits to certain decisions, and I'd like to get a better understanding as to what we should be thinking about when we're thinking about making the investment while the first call would be to your realtor who is knowledgeable on rental properties and how that works, and typically your realtor really needs to own rental properties themselves so. So they have a better understanding of that. Really it's also up to the lender that you talk to to get that down typically, if you're buying and investment property, which means, you would not be living in it. You do have to put about twenty five percent down. That's a really good number to have. It gets you the better interest rate in it eliminates mortgage insurance which all. All has to do with cash flow another methodology of doing it though is if you're younger and you don't mind moving a few times, you can buy a property with the mindset that I'm going to turn this into a rental property and you can do that a few times over I recommend that people stay for at least two years in the House that they have gone. Gone cash is always king. You'll end up getting a better price on the house and the cash flow is immediate, but you wanna look and see what is the best fit for you based upon the cash flow, and what's called Roi, which is return on investment? Basically what percentage rate you're getting on the money you put in? We come across a lot of realtors in every realtor. Realtor as far as I'm aware, at least they specialize in different things. So how do I know what to ask in? How do I look for realtor? That has a really good knowledge specifically, when it comes to investing in real estate for some sort of rental income, there's questions you can ask real estate agents to Kinda Fair it out if they know about mental properties one. One is tell me what the ROI would be on rental properties if they don't know what that means, that's probably a good sign me, not WanNa. Use Them. I would ask them how many rental properties they own, and how many rental properties have they helped? Clients by those are the types of questions that you can ask also another great way of finding out who the good realtors. Realtors czar is cost some of the property management companies around and ask them. Who would you recommend I'm looking at buying rental properties? What real estate agents would you recommend that I use? That's a really good tip. Actually because they come across realtors that really specialize in this area, and so they'd be able to direct people to the right realtor that has experience in that area. Speaking of property management companies then when we're considering a property for this purpose, they're obviously different property types that we need to be thinking about. For example we want a duplex. Do we want the Condo a patio home single family home? Do we want to be in an area that has an Hoa or not, because there are definite advantages, and maybe disadvantages to those decisions based on our ultimate objective. So how do we decipher what the property type is that we should consider? That's something that our realtor could help us. Think about yes, absolutely and really the way you. You look at it is a term called risk versus reward. If you're willing to take more risk, the rewards are greater so for example when you're dealing with a town home or a condo. You don't have to take care of the outside. That's typically covered in the homeowners association dues not always, but usually. If you're risk averse to having to pay for things like roofs, exterior paint, also landscaping that can be very expensive. You may be better off going to a town home or a condo. The return is going to be a little bit less though the Roi will. will be a smaller percentage. That's really how you look at it. It all up to the individual how they WANNA do it. The same applies with property management. If you want a property manager to help you, there's no real standard rate typically somewhere between seven to ten percent of the monthly income that you received so that's going to take away from your our ally, but that means you manage it yourself, and they're certainly risks and rewards to that as well so it all depends on the individual, and what type of risk. They're willing to take getting into that then. Then in terms of managing yourself. I think that one of the things that people get concerned about is that they don't know enough about how to so. For example we have laws to consider we have to find the right tenants that we know are going to appreciate being in the home and taking care of the home end being their long-term. If that's what we're looking for, and then there's maintenance issues to consider as well as general expenses that sometimes we don't even think about front, so not sense. How do we go about learning about how we should handle? Handle it if we decide that we would like to do it ourselves. Versus hiring a professional are certainly books out there that you can read one that I read was called landlord. It's a really good book. The other way is your real estate agent should be able to help you navigate some of these things as well go online. Go to YouTube. You can do videos. There's plenty of information out there about how to do it yourself. If you're doing landlord, but certainly your real estate agent, they're knowledgeable in the investing side of things should be able to guide you. You and help you get started with that I've done that many times, so in other words do your research right I mean. There's a lot of tools and resources. Now that we have access to that. We never had before and that way. If we can gather as much information, upfront as possible will be more prepared. Absolutely real estate attorneys are real good resources well, they can do lease agreements for you. They can do. LLC's all sorts of things like that to help you. Protect yourself and have a good experience having rental properties. How do we know when it's? It's the right time. The values of properties increase and decrease in things fluctuate, and sometimes you're thinking to yourself. Oh, it might be a good time to invest. Because property values are higher now, and in some cases you're thinking. No, actually it's better to wait until they get lower. And of course we don't know we don't know when things are going to go up and down. They change a lot. So how do we know when we should start thinking about this? If this is an avenue that we want to pursue in the future well first of all I, think. Think, we can all say that it doesn't matter if it's nineteen. Hundred or twenty twenty real estate feels like it's always too expensive. I said that back in the eighties when I bought my first patio home at forty thousand dollars I thought that was ridiculous and boy. I wish I had thirty of those now, so there are things that we can look at and that are localized. The local market is what's important. The Denver Market for example since one thousand, nine, hundred, seventy seven. We've had an annual appreciation on real estate six point one percent even with the. But, there are indicators that I watch for from a localized methodology. The first one is employment, so if the employment numbers are going up now. I'm not talking about unemployment I'm talking about how many new jobs have been added to the market. If it's going up, that's a really good sign once it starts going down. That means it's going to be about twelve to eighteen months and real estate prices are going to start going down. That's typically what happened. Not always supply and demand is second, the greater the supply, the last demand, the lesser appreciation we have in houses, and that also affects rental rates and thirties affordability. How affordable! Affordable is the area that you're looking at. Those are the three things that I focused on when I look at. Is it a good time to buy or not? For the last five years up until last year, I was telling people. It's not a good time to buy. Because pricing was just not there. It's starting to now. We're starting to see home starting to cash flow, and that's the other thing that we look at so hope that answers your question in a nutshell, it definitely does him. This might not be the right fit for certain people, and so what I'd like to get a sense of is what does it. It typically look like to be a land owner to be somebody who's renting out property. What are some expectations that you need to have to determine whether or not? This is the right approach something that you should be thinking about for yourself well. There's a couple of things one of the things that I do sit down with people and talk about is how much extra money at retirement you want, and that helps me and where they're at as far as do. They want to be a landlord or not. Is there risk? Yes, you have to be able to not take personally when somebody would burger up your place and it's. It's probably going to happen. You do have to set money aside for repairs. You also have to look at things long. If you're not looking at it long term and have the discipline to look at it long term, this may not be the right fit for you. Everybody's heard of fixing flips. I typically don't like doing that, but in this case you WANNA, hold pay it off as quickly as possible so that your properties are free and clear and understand that you may have to go in and do some repair work, and if you're not comfortable doing that, it's probably not right for you, but if you have a long-term. long-term mindset and attitude, it's a great way to have additional income when you're retired. Coming in every single month, bats the goal, so in other words you need to understand what is required of you and how that's going to look in terms of how you're going to participate in the process, and if you don't feel it, something that you can do yourself, or at least be a part of an are not even interested in doing it then, perhaps, it's not a right fit, but if you feel like you're excited about it, and it's something you really want to be involved in this. Be something to consider not being involved with. With it, you can't have property management do that and that's perfectly fine. The real question is are you willing to look at this long term? Are you willing to make a little bit of sacrifice now for later? That's a really good tipped him. If people wanted to get a hold of you and ask you about more information regarding this, how do they reach you? There's a couple of different ways you can reach me by phone by number is three, zero, three, six, six, nine, two, six, seven six. You can email me at T -pointment H., Y. M. N. at Diene one hundred dot com. I'm more than happy to answer. Answer any questions that you would have. No obligation won't sign you up for anything and on a monthly basis on the third Thursday of the month. If you do live in Denver, I have a meeting and we talk about how to be a landlord, and what issues there are, and what is the name of this group that you have on a monthly basis, Tim? It's called my wake up money team and the wake up money stands for if you wake up in the morning and you have this income coming in. Would it feel good? And of course the answer is yeah. It's great to know that people have more resources. Resources and information so that they can make the best decisions for themselves. Thank you so much. Tim I really appreciate all his invaluable information. You shared with us today. It was really great having you on the show. Well, it's my pleasure. Thank you so much. Marissa. That's all for this episode of Live blissed out. Thanks for listening and thanks to Tim. Hoi Men for being my guest. If you find value in our show, please visit live blissed out dot com to reach out, subscribe and share on social media. This show is made possible through listeners like you. Thank you so long for now and remember to keep moving forward.

Tim Hoi Wanna United States Peggy L. Denver Colorado Caffeinate Matab Mersa Houston Sensory Processing Disorder Fo Property Manager Colorado Army National Guard Littleton Symphony Marissa Youtube
041 - Investing In Rental Properties

Live Blissed Out

16:44 min | 2 years ago

041 - Investing In Rental Properties

"This is episode forty one on the list our podcast did you know that historically in the United States? A red door signified that a homeless, a safe place for travelers to stop and rest. He people would paint their doors. Read to communicate that they are welcoming. It is a sign of inclusion and signifies that they value community. Hello action takers welcome to live blissed out a podcast where I have authentic conversations with business owners and subject matter experts to help us get the scoop, the four, one one, and the low down on a variety of topics, tired of hesitating or making decisions without having the big picture WanNa be in the know then. This is the place to go I'm your host Mersa Houston helping achieve bliss through awareness and action. Thanks for joining me the information opinions and recommendations presented in this podcast are for general information. Information only and any reliance on the information provided in this podcast is done at your own risk. This podcast should not be considered professional advice. Sending a coffee Mug shot. Shout out to Peggy L. IN CENTENNIAL COLORADO. Thanks for filling my Coffee Cup Peggy and being such a cool being. If you'd like to help, keep me fueled head over delivery style, dot com, and click on the caffeinate Matab to give me a boost and redeem your bonus as a thank you for supporting the show joining me is. The Mozart of real estate at the Denver one hundred whether you're buying your dream home or selling one. Tim makes it happen. Tim, we'll orchestrate the buying and selling of your real estate with is finally to knowledge of relevant market trends, maximizing Internet and online state of the art, high traffic exposure expertise in negotiating skills attention to every detail with trusting confidence, resulting top dollar for his. His clients. If you're investing in residential real estate, he can make your profits. or Tim serves as the President of the board of directors for the Sensory Processing Disorder Foundation and chair of the Grievance Committee for the Aurora Association of Realtors. He is a twenty year member of the Littleton Symphony and is dedicated twenty years of life in the Colorado Army National Guard. Tim gives back. Back tastes community clients and service providers to learn more visit Tim Hoi men Dot Com, searching for a minimal versatile handheld Tripod look no further switch pod works with any camera from a phone to a DSL LAR and simplifies video. Making switch pod is lightweight compact in nearly indestructible. It will save you time between shots, so you can focus more on shooting and less on messing with. With your gear just head over to the partners tab at liberalist out dot com and click on the switchboard link to let them know. I sent you and help support the show. Hey, Tim, it's great to have you on the show today. Well, thanks for having me really appreciate it Marissa well. I'm looking forward to talking to you about rental properties. There are many reasons why. Why people want to purchase a home as we all know, people buy homes because they plan on living in them, or perhaps they're moving to a different location, and they need to get a home, or they're up sizing downsizing. There's many reasons, but in particular we're going to be going through the process of how to consider using property for either investment or current income, so like to. To start by asking you. What are some of the considerations that somebody should have if they were to decide to buy a rental property in terms of the purpose whether they want to use it long term, or as a way to increase their income on a monthly basis, I'm a big proponent of long term planning and long term thinking so really. There are strategies that I. I look at when a person is thinking about going into the landlord business. I is understanding that you are buying future income, so you are sacrificing a little bit now for the future, secondly is appreciation. The way houses appreciate in price is a bonus. I don't really consider that a primary factor but man. It's really good if you look at the history of owning houses third you. You. WanNa buy quality or break, even cash flow properties, so the cash flow at the beginning isn't so important, because the goal is that you own rental properties free and clear me no mortgage. That's where the magic is with owning investment properties speaking of that then how do we get to that point? So? Of course we're going to be talking about money and how the money? Money is going to be invested and there many ways to approach that we can put a minimum down payment and get a mortgage. We can put a larger down payment. We could probably cut the amount of payments that we put in so that we can own the home faster, or we can even pay in cash if we have it. So what are some of the options there? There and the pros and cons because I'm sure there are benefits to certain decisions, and I'd like to get a better understanding as to what we should be thinking about when we're thinking about making the investment while the first call would be to your realtor who is knowledgeable on rental properties and how that works, and typically your realtor really needs to own rental properties themselves so. So they have a better understanding of that. Really it's also up to the lender that you talk to to get that down typically, if you're buying and investment property, which means, you would not be living in it. You do have to put about twenty five percent down. That's a really good number to have. It gets you the better interest rate in it eliminates mortgage insurance which all. All has to do with cash flow another methodology of doing it though is if you're younger and you don't mind moving a few times, you can buy a property with the mindset that I'm going to turn this into a rental property and you can do that a few times over I recommend that people stay for at least two years in the House that they have gone. Gone cash is always king. You'll end up getting a better price on the house and the cash flow is immediate, but you wanna look and see what is the best fit for you based upon the cash flow, and what's called Roi, which is return on investment? Basically what percentage rate you're getting on the money you put in? We come across a lot of realtors in every realtor. Realtor as far as I'm aware, at least they specialize in different things. So how do I know what to ask in? How do I look for realtor? That has a really good knowledge specifically, when it comes to investing in real estate for some sort of rental income, there's questions you can ask real estate agents to Kinda Fair it out if they know about mental properties one. One is tell me what the ROI would be on rental properties if they don't know what that means, that's probably a good sign me, not WanNa. Use Them. I would ask them how many rental properties they own, and how many rental properties have they helped? Clients by those are the types of questions that you can ask also another great way of finding out who the good realtors. Realtors czar is cost some of the property management companies around and ask them. Who would you recommend I'm looking at buying rental properties? What real estate agents would you recommend that I use? That's a really good tip. Actually because they come across realtors that really specialize in this area, and so they'd be able to direct people to the right realtor that has experience in that area. Speaking of property management companies then when we're considering a property for this purpose, they're obviously different property types that we need to be thinking about. For example we want a duplex. Do we want the Condo a patio home single family home? Do we want to be in an area that has an Hoa or not, because there are definite advantages, and maybe disadvantages to those decisions based on our ultimate objective. So how do we decipher what the property type is that we should consider? That's something that our realtor could help us. Think about yes, absolutely and really the way you. You look at it is a term called risk versus reward. If you're willing to take more risk, the rewards are greater so for example when you're dealing with a town home or a condo. You don't have to take care of the outside. That's typically covered in the homeowners association dues not always, but usually. If you're risk averse to having to pay for things like roofs, exterior paint, also landscaping that can be very expensive. You may be better off going to a town home or a condo. The return is going to be a little bit less though the Roi will. will be a smaller percentage. That's really how you look at it. It all up to the individual how they WANNA do it. The same applies with property management. If you want a property manager to help you, there's no real standard rate typically somewhere between seven to ten percent of the monthly income that you received so that's going to take away from your our ally, but that means you manage it yourself, and they're certainly risks and rewards to that as well so it all depends on the individual, and what type of risk. They're willing to take getting into that then. Then in terms of managing yourself. I think that one of the things that people get concerned about is that they don't know enough about how to so. For example we have laws to consider we have to find the right tenants that we know are going to appreciate being in the home and taking care of the home end being their long-term. If that's what we're looking for, and then there's maintenance issues to consider as well as general expenses that sometimes we don't even think about front, so not sense. How do we go about learning about how we should handle? Handle it if we decide that we would like to do it ourselves. Versus hiring a professional are certainly books out there that you can read one that I read was called landlord. It's a really good book. The other way is your real estate agent should be able to help you navigate some of these things as well go online. Go to YouTube. You can do videos. There's plenty of information out there about how to do it yourself. If you're doing landlord, but certainly your real estate agent, they're knowledgeable in the investing side of things should be able to guide you. You and help you get started with that I've done that many times, so in other words do your research right I mean. There's a lot of tools and resources. Now that we have access to that. We never had before and that way. If we can gather as much information, upfront as possible will be more prepared. Absolutely real estate attorneys are real good resources well, they can do lease agreements for you. They can do. LLC's all sorts of things like that to help you. Protect yourself and have a good experience having rental properties. How do we know when it's? It's the right time. The values of properties increase and decrease in things fluctuate, and sometimes you're thinking to yourself. Oh, it might be a good time to invest. Because property values are higher now, and in some cases you're thinking. No, actually it's better to wait until they get lower. And of course we don't know we don't know when things are going to go up and down. They change a lot. So how do we know when we should start thinking about this? If this is an avenue that we want to pursue in the future well first of all I, think. Think, we can all say that it doesn't matter if it's nineteen. Hundred or twenty twenty real estate feels like it's always too expensive. I said that back in the eighties when I bought my first patio home at forty thousand dollars I thought that was ridiculous and boy. I wish I had thirty of those now, so there are things that we can look at and that are localized. The local market is what's important. The Denver Market for example since one thousand, nine, hundred, seventy seven. We've had an annual appreciation on real estate six point one percent even with the. But, there are indicators that I watch for from a localized methodology. The first one is employment, so if the employment numbers are going up now. I'm not talking about unemployment I'm talking about how many new jobs have been added to the market. If it's going up, that's a really good sign once it starts going down. That means it's going to be about twelve to eighteen months and real estate prices are going to start going down. That's typically what happened. Not always supply and demand is second, the greater the supply, the last demand, the lesser appreciation we have in houses, and that also affects rental rates and thirties affordability. How affordable! Affordable is the area that you're looking at. Those are the three things that I focused on when I look at. Is it a good time to buy or not? For the last five years up until last year, I was telling people. It's not a good time to buy. Because pricing was just not there. It's starting to now. We're starting to see home starting to cash flow, and that's the other thing that we look at so hope that answers your question in a nutshell, it definitely does him. This might not be the right fit for certain people, and so what I'd like to get a sense of is what does it. It typically look like to be a land owner to be somebody who's renting out property. What are some expectations that you need to have to determine whether or not? This is the right approach something that you should be thinking about for yourself well. There's a couple of things one of the things that I do sit down with people and talk about is how much extra money at retirement you want, and that helps me and where they're at as far as do. They want to be a landlord or not. Is there risk? Yes, you have to be able to not take personally when somebody would burger up your place and it's. It's probably going to happen. You do have to set money aside for repairs. You also have to look at things long. If you're not looking at it long term and have the discipline to look at it long term, this may not be the right fit for you. Everybody's heard of fixing flips. I typically don't like doing that, but in this case you WANNA, hold pay it off as quickly as possible so that your properties are free and clear and understand that you may have to go in and do some repair work, and if you're not comfortable doing that, it's probably not right for you, but if you have a long-term. long-term mindset and attitude, it's a great way to have additional income when you're retired. Coming in every single month, bats the goal, so in other words you need to understand what is required of you and how that's going to look in terms of how you're going to participate in the process, and if you don't feel it, something that you can do yourself, or at least be a part of an are not even interested in doing it then, perhaps, it's not a right fit, but if you feel like you're excited about it, and it's something you really want to be involved in this. Be something to consider not being involved with. With it, you can't have property management do that and that's perfectly fine. The real question is are you willing to look at this long term? Are you willing to make a little bit of sacrifice now for later? That's a really good tipped him. If people wanted to get a hold of you and ask you about more information regarding this, how do they reach you? There's a couple of different ways you can reach me by phone by number is three, zero, three, six, six, nine, two, six, seven six. You can email me at T -pointment H., Y. M. N. at Diene one hundred dot com. I'm more than happy to answer. Answer any questions that you would have. No obligation won't sign you up for anything and on a monthly basis on the third Thursday of the month. If you do live in Denver, I have a meeting and we talk about how to be a landlord, and what issues there are, and what is the name of this group that you have on a monthly basis, Tim? It's called my wake up money team and the wake up money stands for if you wake up in the morning and you have this income coming in. Would it feel good? And of course the answer is yeah. It's great to know that people have more resources. Resources and information so that they can make the best decisions for themselves. Thank you so much. Tim I really appreciate all his invaluable information. You shared with us today. It was really great having you on the show. Well, it's my pleasure. Thank you so much. Marissa. That's all for this episode of Live blissed out. Thanks for listening and thanks to Tim. Hoi Men for being my guest. If you find value in our show, please visit live blissed out dot com to reach out, subscribe and share on social media. This show is made possible through listeners like you. Thank you so long for now and remember to keep moving forward.

Tim Hoi Wanna United States Peggy L. Denver Colorado Caffeinate Matab Mersa Houston Sensory Processing Disorder Fo Property Manager Colorado Army National Guard Littleton Symphony Marissa Youtube
China has loosened Coronavirus lockdowns, here's how they're contact tracing

Weekend Edition Saturday

03:54 min | 2 years ago

China has loosened Coronavirus lockdowns, here's how they're contact tracing

"China is lifting some lockdown measures it put in place three months ago to try to stop the spread of covert nineteen but it has not relaxed its controls and surveillance over movement and pairs Beijing correspondent Emily fanning reports on the measures that China is using to track where its residents including her travel many streets in one the Chinese city with a corona virus pandemic first emerged I still barricaded with plastic and corrugated metal blockades and now there's something new pasted on these blockades posters with Q. R. codes it's on the internet SO when I step into this grocery store to buy water for example the store owner it won't let me in until I scanned a code that tracks which public spaces I've been to recently I go thirsty because the codes don't work yet for those without a Chinese ID on top of scanning QR codes everyone in China has colored health codes on their smartphones it's a health certificate one meter distance in line and show your health codes players allowed speaker apple hands main train station to leave behind and get back to Beijing I show my code which uses an ID or passport number to track recent travel or medical visits green coat you're okay to go red health code sorry but no travel this digital contact tracing nears more extensive methods other Asian countries have adopted in Singapore residents are encouraged to download an app that uses location data to roughly trace contact with the sick person in Hong Kong those quarantine you're given a geo fenced wristband paired with a tracking app China has actually not been doing digital contact racing as aggressively as a few other east Asian countries Mason's son as a PhD student at the Massachusetts institute of technology where she's on MIT's work at the future task force each city or province she says commissioned its own version of this rudimentary digital contact tracing system so there are now some two hundred overlapping apps and a son explains no one knows how the apps work really there does seem to be a lot of algorithmic black box when it comes to you know how exactly is month health status determined and because there are so many different apps the data is also localized for example I traveled from Wakanda Shanghai to Beijing because I live there I filled out a Beijing contact tracing app with my travel history and personal information but I then got multiple calls from multiple local government bodies asking about my travel none of them appear to have told the others about my trip or had access to my complete records so the patch work kind of pattern you've seen I think is in part explained by the fact that the problem solving started at the city level because each city had to manage its own population as a result much of China's tracing methods are far more low tech the brunt of monitoring try Abell falls on neighborhood committees sort of like government sanctioned homeowners associations who in times of emergencies are given extraordinary powers in this case the power to enforce quarantines thank hours after I get back to my apartment in Beijing my neighborhood committee since two employees to install an electronic sensor that alerts them every time I open my front door if I open the door to get groceries or to throw out trash the verify with my property managers that that's indeed what I did in my health code is switch from a healthy green to a flashing yellow meaning I should quarantine myself at home well we offer in our careers if you will we strongly recommend that you do not leave in the next fourteen days if you do there will be consequences the neighborhood committee warns me then the door swings shut I'll be seeing you in two weeks

China
"property manager" Discussed on 790 KABC

790 KABC

10:38 min | 2 years ago

"property manager" Discussed on 790 KABC

"Owner property manager company owner and mentor parcel C. ation executive executive and all round good guy the end with the C. today's been discussing what management companies are doing in this situation that John the poor we go back to my last question for the break which is what about payroll taxes just just thinking as a senior break going what do you hear out there in the marketplace what are most management companies doing because it seems very interesting to me that they would be willing to take this risk of taking on inciting for all this debt and hoping and then we can do the hoping part that it's going to be forgiven what what do you see happening out there well I think you should several owners as ordered several property management company owners that I have spoken with that are willing to take that chance based on their relationship with their clients have similar arrangements as I do and so the the the risk is minimized you know I thought out the award you know what can go wrong and let's have an agreement in place in case that does happen some a lot of the bigger property management companies have more than five hundred employees so they don't qualify to begin with and so you're seeing a whole group of property owners who are just able to take advantage of this program because there are there are property management company has more than five hundred employees and does not does not qualify we have seen owners that are you know that are managed by a large company has made the effort to apply in the property management company has cooperated by providing downs is the state portion of their IRS forms nine forty nine forty one to show that these employees actually are at the end of the day thanks for by by the by the property there's a whole nother set of obstacles that those people have to overcome so now this remember I diss the activists part of what you were doing in the apartment soldiers were trying to put pressure on government officials to see that these people are just out of luck they got no help at all right sure which are part of the lobbying in in in for the next round of the of stimulus there has been an extensive lobbying effort to bring to make it more friendly or friendly to the real estate business one of the things though is that in the last stimulus package the E. IDL learning and the PPP loans do not lost exclude real estate institute now with that said the SBA the small business administration has a you know it has a history of excluding the passive businesses which real estate you the property themselves or are considered in the SP eight put those limitations into the E. I D. L. in the P. P. P. one that that the that the bill itself doesn't say is there it doesn't limit that so that's one of the lobbying effort that the actual apartment association Dallas national multi housing council it is a true to real estate manager all working together to get these benefits out to a wider range of people specifically to others in our industry so the the the basic concept of we're trying to keep people employed okay so that's the basic concept and we're not trying to take profits and boost profits for people so passive investment is simply a profit entity we make money at that level it's considered passive so it's not earned income taxes earned income and so their their concept is Hey this is losing money on apartment complexes like losing money in the stock market it's not a pay roll offense hits the snow queen they were helping anybody by bolstering the stock market about bolstering the apartment which is the passive part of the deal so I understand all that what people don't understand John is that they don't have employees and yet they think there that those are those are their employees they really do believe that the employees working at the apartment belong to them did they take care of them that they care about them that they nurture them that they grow them they promote them and all this stuff in their mind but in reality they don't have any employees state they can't get sued as an employer because you're not an employer right correct there lies about you yeah it does it it does the net say you know like in the mail I think what the associations are trying to do are people that you know for example owned an apartment community and have their employees you know it's it's that I wrote for example you know it's just them they have their company they own their hundred unit property they have you know two employees that work for the same entity the same entity that owns the real estate now the thing is the owner are not eligible but they're two employees they would normally be eligible for the PPP let yes BA is specifically excluded them because the business is considered a passive business in that and they've excluded them from being able to participate in this type of work yeah the last step beyond that I guess the the one that it's hard for people to understand if your entire life you were employed you have no idea about what being an owner is and you when you came out of corporate America and you started your management company were you considered an employee of your management company I was initially and just from the standpoint that I that I hate myself and the first year that I did taxes by a CPA he slapped me on the wrist and said exactly what you've been saying why are you paying yourself you're not an employee you are a business owner you know I do you know just like with any business owner on my net income I do pay social security you're from the management company on on on that piece of my income as both sides of both sides of that it was that I had that mentality of I'm I am an employee of the company and and somehow there was you know job security in that band my CPA working with you you know just got it you know got me to the point of understanding the difference between a business owner and entrepreneur the one who is taking the risk and the you know and being an employee see so we got that level there were people or making that mistake this one last level that I want to bring up and that is ten ninety nine employees own real estate companies I think I own for five of them I'm sure how many specific wanted like we have and we have real estate agents but agents are ten ninety nine and they're not they're contract labor they're not employees and yet they said you could claim them on your payroll requests for money I declined to do that and I said because can you see me sitting in front of a judge somewhere going your honor these are not my employees they cannot sue me for unemployment they cannot sue me for work related injuries he cannot sue me for any number of employee grievances because they're not employees and then the guy go yeah but Mr Walmsley you see you claim them on your your request for payroll from the federal government and they give you a hundred thousand dollars for all their pay because they were your employees now why would you say they're your employees when you wanted money and say no when they're suing you you see my dilemma there John I absolutely do see your dilemma and and as this has evolved the the parameters of the lines actually did include ten ninety nine you know simple ease which really aren't pleased because our ten ninety nine in that same kind of the evolution to this in the program or the end program interpretation is is that if someone is a is a ten ninety nine workers even though they do business for you and you pay them being a ten ninety nine workers means that they're self employed and so they had you know that then the individual ten ninety nine workers could file their and so there was a disk discourage me to to to include ten ninety nines all their and I realize that the they were supposed to do that and I really don't know how many have I have to check into that John thanks for being on the show with the state appreciate your insight it's something I couldn't got from too many other people thanks a lot for coming on thank for the rescue will be right back with a dell ones radio show hi dental I started fighting the iris over forty years ago when they tried to seize my mother's house I sue the iris and one I beat the Irish then and I've been beating them ever since I wrote the book on tax debt settlement and I've.

executive John property manager
"property manager" Discussed on WCBM 680 AM

WCBM 680 AM

10:27 min | 2 years ago

"property manager" Discussed on WCBM 680 AM

"Property manager company owner and mentor for part association executive executive and all round good guy and with this today's been discussing what management companies are doing in this situation John four go back to my last question for the break which is what about payroll taxes just thinking as a senior break going what do you hear out there in the marketplace what are most management companies doing because it seems very it's interesting to me that they would be willing to take this risk of taking on inciting for all this debt and hoping and then we'll kick into the hoping part that is going to be forgiven what what do you see happening out there well I think several owners as ordered several property management company owners and I have spoken with that are willing to take that chance based on their relationship with their clients have similar arrangements as I do so the the the risk is minimized you know I thought out the a work field what can go wrong and let's have an agreement in place in case that does happen a lot of the bigger property management companies have more than five hundred employees so they don't qualify to begin with and so you're seeing a whole group of property owners who are just able to take advantage of this program because there are there are property management company has more than five hundred employees and does not does not qualify we have seen some smaller owners that are you know that are managed by a large company has made the effort to apply in the property management company has cooperated by providing downs usually stay fortune of their IRS forms nine forty and dying forty one to show that these employees actually are at the end of the day paid for bye bye by the property there's a whole other set of obstacles that those people have to overcome so now this is remember right this is the activist part of what you were doing in the apartment solutions we're trying to put pressure on government officials to see that these people are just out of luck they got no help at all right Sir which are part of the lobbying business yes for the next round of the of of stimulus there has been extensive lobbying effort to bring to make it more friendly or friendly to the real estate business one of the things though is that in the last stimulus package the E. IDL learning in the PPP loans do not exclude real estate entity itself with that said is the SBA the small business administration has a you know it has a history of excluding the passive businesses which real estate if the property themselves or are considered an ESP eight put those limitations into the C. I. T. L. in the P. P. P. one that that the that the bill itself doesn't say is there it doesn't limit that so that's one of the lobbying effort that the actual apartment association Dallas national multi housing council you need to to to real estate matters were all working together to get these benefits out to a wider range of people specifically to others in our industry so the the the basic concept is we're trying to keep people employed okay so that's the basic concept and we're not trying to take profits and boost profits for people for passive investment is simply a profit entity we make money at that level it's considered passive so it's not earned income taxes earned income and solve their their concept is Hey this is losing money on apartment complexes like losing money in the stock market it's not a pay roll offense hits the snow queen they were helping anybody by bolstering the stock market about bolstering the apartment which is the passive part of the deal so I understand all that what people don't understand John is that they don't have employees and yet they think there that those are those are their employees they really do believe that the employees working at the apartment belong to them did they take care of them that they care about them that they nurture them that they grow them they promote them and all this stuff in their mind but in reality they don't have any employees think they can't get sued as an employer because you're not an employer right correct there lies about you yeah it does is it does the necessary you know like and the you know what you think what the associations are trying to do are people that you know for example owned an apartment community and have their employees yeah it's it's and I wrote for example you know it's just them they have their company as they own their hundred unit property they have you know two employees that work for the same entity the same entity that owns the real estate now the thing is the owner are not eligible but they're too important they would normally be eligible for the PPP line yes BA is specifically excluded that because the business is considered a passive business and that and they've excluded them from being able to participate in this type of life health the last step beyond that I guess the the one that it's hard for people understand if your entire life you were employed you have no idea about what being an owner is and you when you came out of America and you start your management company were you considered an employee of your management company I was initially and just from the standpoint that I that I hate myself and the first year that I did taxes by a CPA slapped me on the wrist and said exactly what you've been saying why are you paying yourself you're not an employee you are a business owner you know I do you know just like with any business owner on my net income I do pay social security you're from the management company on on on that piece of my income as both sides of both sides of that but it was that I had that mentality of I am I am an employee of the company and and somehow there was you know job security in that and my CPA working with you you know just got it you know got me to the point of understanding the difference between a business owner and entrepreneur the one who is taking the risk and the you know and being an employee so we got that level there where people are making that mistake this one last level that I want to bring up and that is ten ninety nine employees own real estate companies I think I own for five of them I'm sure how many specific wanted like we have and we have real estate agents but agents are ten ninety nine and they're not they're contract labor they're not employees and yet they said you could claim them on your payroll requests for money I declined to do that and I said because can you see me sitting in front of a judge we're going your honor these are not my employees they cannot sue me for unemployment they cannot sue me for work related injuries he cannot sue me for any number of employee grievances because they're not employees and then the guy go yeah but Mr wants to use you claim them on your your request for people from the federal government and they give you a hundred thousand dollars for all their pay because they were your employees know why would you say they're your employees when you wanted money and say no when they're suing you you see my dilemma there John I absolutely do see your dilemma and and as this has evolved the the parameters of the lines actually did include ten ninety nine you know employees which really aren't employees because our ten ninety nine N. as in kind of the evolution to this in the program or the end program interpretation is is that if someone is a is a ten ninety nine workers even though they do business for you and you pay them being a ten ninety nine workers means that they're self employed and so they had you know that then the individual ten ninety nine workers could file their and so there was a disk discourage me to up to to include ten ninety nines all their and I realize that the they were supposed to do that and I really don't know how many have I have to check into that John thanks for being on the show with the state appreciate your insight it's something I couldn't got from too many other people thanks a lot for coming on thank you for the rest you'll be right back with a dell ones radio show morning drive with weekday mornings on radio WCBS.

executive John Property manager
"property manager" Discussed on Scale The Podcast

Scale The Podcast

08:37 min | 2 years ago

"property manager" Discussed on Scale The Podcast

"Again. It's going back to the same thing I really learned. The first go around is we need to make sure that all our systems and tools are actually recorded up to date so that when they come on board they can access everything they have. All the tools needed to be successful. And it's just it's that small little key that makes the big difference is just making sure all your systems all your scripts. All the information is available and up-to-date. That's right you guys because the second person is really a phone person who is kind of you know taking calls when somebody's interested in leasing property. So you had to actually teach them a little bit of sales a little bit of scripting. Let's talk. Yeah how did that work? What did you do in that scenario? So again it came down to them just Watching our screen at listening to us as we speak on the phone and it's a little bit different since they don't actually get to see the property they can photo wise but they don't actually get the physical properties but listening to our our US. Speak to these prospects coming in and them just knowing all amenities that can find online now Really did how okay. So that's a good question. Okay so I'm a real estate broker. I did a bunch of real estate stuff back in the day and one of the things that we had to do was teach our virtual assistance the different ZIP codes in the different areas and then also the property features so one thing that we did is we literally got a phone book ripped out the back in the back it had all the ZIP codes and like different areas. And and then they could just simply google. What's it like over in the East Sacramento area? Were in Sacramento California. And so they could find the top. You know things in that area how. How have you overcome like? They've never seen the property. They don't know you know whether it has a pool or doesn't have a pool a backyard. Or you know like how did you get over that Hump? Yeah and so. That's where it comes down to as these are unlicensed assistance. They are Veasley going off of what we're telling them and that's where incident. We basically had improve our system What all amenities are there More photos describable property is just getting more detail so that they can actually just look at our our notes system and just just repeat kind of what. What's there sometimes? It doesn't have a backyard in right there in the notes in Fono Yup fenced backyard. We allow pets. And they're done so it caused you guys to basically up the game when it came to details of the properties that you manage which probably changed everything in your system from when you first onboard new property to when you tell somebody it's available for for lease I mean before we probably getting phone calls from people asking about I. Did this have a fenced backyard out? Good enough photos or not enough photos or miss that you wouldn't know and so that really challenged us to art. We need to provide all that information and just make sure that everything's there which in turn helps our virtual assistance and also helps our marketing as well right. What's interesting too is your in that space. Where every scaling business? There's this like this small tribe of people that have everything wrapped in their brain. And then you add somebody new and you're like oh I've got a document. Everything has that hasn't been painful for. Your internal team has absolately. We're still battling that today. We're finding new processes that we thought we had documented properly or everything there and we don't and so It's just it's challenging us to become better in using documents of moving forward as we bring on more people. It's going to be a lot easier. What's that like for you as a leader? You have twelve folks that report to you and I wonder if sometimes they give you a little pushback for documenting. They're like I don't have time for that or now. You're asked me to do one more thing like however have you bridged that gap with your direct reports like me challenging. What I like to do and what I have done is when an issue occurs from lack of documentation like to call a meeting around that and just start them from the beginning all right. This is what happened and this is where we're at and show them where the lack of documentation has caused that gap and just kind of opens author is a little bit or where they can actually see why it's important and issues on it causes okay. So it's just a full transparency. Your Alita likes include others and you pull them together and you say hey. This is what happened and this is why. I think we need to shift what we're doing. And how have they responded to that to that approach once they actually see What causes and what they can do to prevent that then they're onboard and saw spinning a little bit more extra time with him. Sean. Why what? It's so interesting because that is leadership is just spinning the time to communicate. Have them understand the why behind what they're doing and then get everybody on the same page and then move forward and improve your processes that it? That's pure leadership. Did it come natural to you? Do they come on? No not at all you just you just figuring out as you go. Yeah it's trial and error right you try to love it. I love it Okay so what? What advice would you give to? Property meanders thinking about virtual assistance. We talked before the show and I said Hey. Property Management hasn't yet as an industry wrap wrap their brain around virtual assistant. So what advice would you give somebody? Who's considering this to help them? Grow and scale their property management practice. So I just take a look at Your Business and see where you need the leverage Don't need you know a live person in your office. The may be answered phones or do work workers you can monitor sat out a with virtual professional Which in turn will give you more time to get out there in the field check needs properly showing these properties in a league style. And so just look at where you can leverage your business where you don't need an actual physical body right and then go that route Usually that's phone calls a lot of phone calls actually and you're going to help with that. Maybe it's data entry as well including new information new properties. Updating your your database. Yeah they can also help lead generate making some phone calls mulling with leads and so just if it's basically done online you have a cloud. Everything saved online. That's where you can really leverage with a virtual professional. I love it. I love it. And what is the benefit to you guys as a company and you know I haven't prepaid. We didn't talk about this before. But what do you see the value to your company of working with virtual professionals so value for us. What we're getting right now is. We're getting more phone calls answered when we get more phone calls answered that's more properties that releasing or actually leasing properties out faster and more throughout the month and so that that that's a big benefit to us Work Mission based in so. That's how we get paid and so it's super critical that we get these properties leased. Yeah you're like let's get these things done right absolutely. I love it man all right window. It's been awesome. Thank you so much for your time. I really appreciate you sharing all this and I know you're a pioneer in the industry. You're obviously a great leader and I just want to appreciate on you for sharing today. I appreciate you taking the time to speak with me today. All right man have a great day. You too thanks..

US Property Management Sacramento Fono Yup East Sacramento google virtual assistant California Veasley Sean
"property manager" Discussed on Scale The Podcast

Scale The Podcast

03:22 min | 2 years ago

"property manager" Discussed on Scale The Podcast

"Everybody Danny Ramsay here with my out desk now. This one's exciting. I'm really excited because I got my guy here window window. Thanks for joining us here on the show. This is GonNa be fun man. Thanks for joining US absolutely. I'm glad to be here. So why is this one different? You guys are property manager so windows a property supervisor. Twelve people report to him a love the fact that he's got three of our virtual professionals helping him grow and scale a property management company which is super exciting. Wendell let's talk about. How many doors are you guys currently Kinda managing right now. We are close to three thousand dollars just in our local market and surrounding markets as well and it's called mannix properties. Is that right minutes. Property Management. Love it I love okay. We're going to definitely drop the website in here And so everybody can kind of see what you guys do and understand the business but before we get started. I wanted to just kind of understand you guys do any sales or you just pure property management. How `bout construction? I've kind of understand your business model a little bit. Yeah absolutely so no selling no buying. We are strictly property management. Okay that's it okay. That's cool are you guys primarily in the residential or are you guys do commercial and residential? Or what your world look like? So we are doing. Single-family duplexes apartment complexes No commercial at this time. We're not doing any Marshall so just just those top three hours. We also got a few mobile home parts on. That's probably not something where are truly focused on. But we do have that as well. That's fun a lot of mobile home parks in there and you guys are in the Texas area. Is that right? We're based on taxes. That's right and that's a large market or is it a small market like give our audience a little bit idea. Yeah so our market is around. Three hundred thousand population were home of Texas Tech. Red Raiders. Probably a pretty big college town here and We get a lot of in and out traffic each year. You know what's interesting is if you guys are doing three thousand doors for three hundred thousand people. That's a pretty big share of the market. I would assume you guys are one of the largest property management Companies in your city is that is that right. Yes that. That's that's pretty much true. You're like yeah. We're the big dogs. We do have some competition and yet I wouldn't call competition now. We do share information To to each other I would definitely say that. We're one the largest companies in our area. Okay cool and we were having you on the show. Just kind of highlight how virtual professionals or virtual assistance could help property managers. So we're GONNA go through like your systems and you have them do do it and just a quick synopsis of like. What are some of the best practices? One thing that I know about you guys use APP folio you have a very automated kind of cloud base management system. Let's talk about that why Why did you guys choose that platform? And why is that important to you so fully was actually pretty convenient to us. We're able to log into it from our phones At home if we if we got sick and we had to stay at.

property manager US big dogs Danny Ramsay Texas Tech Wendell Red Raiders supervisor Texas Marshall
"property manager" Discussed on KOMO

KOMO

03:52 min | 2 years ago

"property manager" Discussed on KOMO

"V. in a way but as a property manager for years for her staff every day they are scared every day they are dealing with aggressive behavior and violence every day they're dealing with crime and another is enough you know they say with city hall has been doing isn't working on a new approach is needed mayor Dirk in another city leaders is said to this cannot be allowed to become Seattle's new normal we told you about the outrage over right share surcharges immediately following the shooting in downtown Seattle now we're hearing from both uber and lift that anyone who ordered the right home and paid more than the regular fare will get a refund for the difference several people posted screenshots of the excessive charges Wednesday night as workers downtown tried to get home after the shooting the FAA says he's pleased by the progress Boeing has made toward recertify eyeing the seven thirty seven maximus statement como the agency also emphasized that there's no set timeline in returning the plane to service CNBC reporter Phil lebeau says it's not over the question the FAA approves the plane sooner than this summer but it's not likely what he's saying is progress is being made but it's too early to say yeah we definitely think this is going to happen by the middle of the year the FAA says it's working with safety regulators around the world to make sure all known issues with the Max or dressed before three certified second day in a row weather forced bowing to cancel the first test flight of the triple seven X. couples corpsman Hey because they're just in case at Paine field today Boeing hoped it could launch the first of a series of test flights after Thursday's cancellation but after waiting two and a half hours for fear southerly winds to die down the test was called off much is riding on the success of this Everitt bill's twin I'll jumbo not only does the company need an untroubled product launch in the wake of the Max crisis but this is the plane expected to challenge the Airbus three fifty for long haul dominance well into the mid twenty first century Boeing will try for another test Saturday morning in Everett Corwin Heiko more news nine thirty four no como news let's check como triple a traffic three of my Conklin police and we do this time and in Seattle highway ninety nine north bound the total would close overnight for monthly maintenance that'll be right at ten o'clock this evening it's called an accident blocking the left lane of highway seven thirty eight yeah the life five northbound on the forty fifth street ramp we do have some restrictions there for possible police activity ended pretty in Pierce county west of town the disabled vehicle on highway three oh two that's at a hundred and thirty first north on the ferry should not bad right now in a court of sand once about twenty five minutes behind schedule take a look passes no restrictions on snow palmier white traction charge of five on Stephen report nine forty four I'm Mike Conklin all right thanks Mike in a nine thirty five meteorologist channel total with your como forecasts why everybody it's Friday night here in western Washington and it will be occasionally soggy and occasionally not we've got rounds of rain coming through as we slide into our Friday night into your Saturday morning good soaking by don and then we should try out for several hours especially during the afternoon on Saturday I have to get outdoors and do something outside that's probably your best bet of dry your opportunity to do so highs back into the low fifties tomorrow as we head into our Sunday increasingly soggy gusty out there too once again in the low fifties so that will keep the snow flying up in the cascades as well in a couple weather center I'm meteorologist Shannon o'donnell cloudy skies possibly some sprinkles around out there forty nine in every forty eight in Tacoma and Seattle komo news time nine thirty six will we continue to follow Washington state's case of the corona virus the latest McConnell's bill o'neil the Washington state department of health now says the number of people who have come into close contact with infected man stands at fifty all of those people.

property manager
Tornado strikes Oregon coast, minor damage reported

Morning News with Manda Factor and Gregg Hersholt

00:29 sec | 2 years ago

Tornado strikes Oregon coast, minor damage reported

"The tornado threat in Grays harbor county ended last night but some homeowners along the Oregon coast are cleaning up after a rare tornado touched down the National Weather Service confirmed it was an EF zero that caused minor damage to to homes and manzanita Amy Van **** is the property manager of the view house and says tables and chairs were blown in from another property this is the second tornado there in manzanita since twenty sixteen it seems very very strange but it's obviously a thing that happens here fortunately no one

Grays Harbor County National Weather Service Property Manager Manzanita Oregon Amy Van
"property manager" Discussed on KDWN 720AM

KDWN 720AM

01:40 min | 2 years ago

"property manager" Discussed on KDWN 720AM

"A lot of folks in town that rent properties instead of buying obviously we can get you ready if you want to buy you're in a situation where you've got some down payment money are you going to do something and want to get into home ownership it's great it's a great but a lot of people can't do it aren't ready to do that ready to jump off in in getting home ownership I get one of the issues with renting the property is when you deal with the property manager or an apartment complex they will run you through a database to see if you've had any infections the what any other complexes money those issues happens a lot where people call says he'll circuit this separate that issue can you assist me in this process we have to do it one of the things we're seeing happen a lot in this is important if you are in a position where you been rejected for an apartment based on a vacation or something else I want you to pay attention to this and I want you to call us if this scenario has come to you has found its way to you the issue goes like this you apply for an apartment or property and you hear back within a couple days from the property manager and you are declined because the something in your.

property manager
Khaled Hussein From Red Door on Trusting the Network

Wall Street Oasis

10:53 min | 2 years ago

Khaled Hussein From Red Door on Trusting the Network

"Is moving up a podcast about secrets to success struggles along the way and life in general today in the pod. Keeler that who seem the CEO and founder of red door. I know Keel it because before his real estate start up now which don't worry we talk all about he was the CO founder of Tilt Hilt which you probably hear me talk about all the time and we also had on the podcasts co-founder of Tilt James Shara a month or so ago so that's how we got connected but that's really just the beginning of it. Here's a cool story about meeting with other motivated and interesting people that you make a connection with after after that really anything can happen Keila. He's one of the nicest and most genuine people I've ever had on the POD. You can tell right away that he cares about others and hand from my experience. He's been really helpful to both Jason. Me On the pay club journey also when Kayla was thinking about starting his own podcast. Who Do you think you chatted with the moral here is that yes it helps to have skills that other people value but more importantly how crucial it is to Gal in the world meet people and build relationships nagging just for the sake of accomplishing a task like getting an internship or a job or investment in your company people see right through that the right right way to build bonds is to do it the old fashioned way the old fashioned human way by taking interest in someone finding a way to contact him her sharing your story then learning about them and then growing that relationship chirp overtime when they need something of course you'll be the one that they call and vice versa but it doesn't happen overnight this podcast. It's very helpful to me for the connection point but all that does is get my foot in the door with someone that I wanna meet but then it's on me to actually create the bond. Sometimes it happens and sometimes it doesn't and that can be for many reasons but then that bond it just isn't there forever either it needs to be taken care Rav. We need to chat every once in a while. I keep them up to date on what's happening in my life and they do the same and there's it takes work but like anything else that takes hard work and possibly really longtime the results can be meaningful. That's it if we're good on the building relationships spiel. Let's get into this awesome awesome conversation with kid well it. Thanks so much for having me into your your we work in San Francisco of course thanks for having me on your podcast excited. We'll even even been looking forward to speaking with your co founder of one of your previous ventures James Shara on the podcast and it was a unique podcast. It was different than the than the normal aw he's he's not a normal person so yeah. He's very unique very special kind of person so I would expect. No less yeah so you in your earlier life. You Co founded this company tilt I talk about time because mixer. It relates a lot to pay club and you guys had a lot of successes and a lot of ups and downs and we can talk about that in relation to to your journey and an I have another really cool startup still in the fintech space which is really interesting. I mean I don't know that that came out of your work with tilt or got to that. We'll get into that too much. Let's start early days. Where'd you grow up. Where'd you go to school. When did you start to become The menu are today yeah all thank you. I am. I actually grew up in Egypt. I grew up in Alexandria Egypt specifically early and as very fortunate. I grew up in a family of entrepreneurs. My father was an entrepreneur. My grandfather was an entrepreneur and the owned multiple different businesses and so I have inherited that if you will and so I grew up there I went to school there and and finished my high school in Alexandria after which I started my first company and is actually in the real estate space as well. It was kind of a property management software to help property managers know which properties are rented which ones who paid who didn't that kind of thing and that was we're talking about over seventeen. Maybe eighteen in years ago now in some dating myself MC time and I finish this business and then I moved to the US I went to Virginia Tech for school. I studied human computer interaction and that kind of shaped the rest of my life really in terms of focusing on user experience awesome products and what the psychology is of these users had they think through problems and the solutions and so forth I finished my masters and then I joined the company called Webmail that was almost before g mail was there. That's how old I am but I joined that almost nine months later the company nine months later the company got acquired by rack space when when rack space at the time was two hundred or so employees and so is fortunate. I joined that team in racks base and I moved from Virginia. Down to Texas coming from Egypt side note coming from Egypt Virginia Genia was really called for me knows first time to see snow as mind blown overcompensated they went to Texas and Texas is actually harder than Egypt. Believe it or not yes that is where I grew up so racks phase. I stayed there for about four and a half a few years and I seen the teens grow from two hundred people ish to about maybe four thousand in four years almost a thousand person a year. The company went public went to up to thirty five billion dollar at some point and it was really great got to learn so much of head amazing mentors and after that journey decided to jump on board to try something else. Try something on my own and and that's when I started tilt and I know we'll talk a little bit more about it but it was an awesome can of Silicon Valley show story and we got to learn a lot from that journey. I got to meet Jay's an in which is I feel very very blessed of Madam and I learned a lot from him as well as an as an entrepreneur as a founder and and then after we sold the company to Airbnb I say that AIRBNB for about a year and a half or so and I left to start my current venture called red door in the Fintech real estate mortgage space yes right now. It's tying all your stuff together. The your your first job yeah I Egypt Yeah so how'd you how'd you get connected with James. We are great story and so you know how how one one of the best advice of ever gotten in my life was in order for you to succeed as an entrepreneur but really it applies for anything you have to build L. Trust and network. You have two people need to trust. You and you need a lot of people dressed. If if you have a lot of people in in your network but there's only two people that trust you is not going to help you that much and if if you have a lot of people in our nobody trusts you it it doesn't matter either and so I really took this to heart and I started kind of throughout my entire career really even starting from high school and college is as I cared so much of a building that network and making sure that I am trustworthy. My reputation really mattered a lot so I I I remember in my first job at Webmail I kind of engineered the situation where I run into their founders and try to learn from them and get them to be my mentor or so I I grabbed lunch with them and presented a few ideas and then they all looked at day deserves. Hey listen. You're smarter than that so clearly this is not a meeting of these ideas from this and I said well okay one day. I WANNA start my own business and I just want to learn from you guys. I think you have a lot of experience and I just want to have them. As my mentors they took it and they ended up big mentors for a very very long time and they actually ended up investing in Tilton their investors in this company as well in red door and through those two mentors they were were they met James and they're they knew about James was building company at the time called crowd tilt and he was looking for a CO founder and and and they wanted to invest but they wouldn't really invest in a company with Solo founder so they said listen. We have this company. We have this guy just to have a chat as E. Tell us what you think so I chat with James. Three hours later. I quit my job at the time yes I met through. You know those mentors that I worked with for last five years. I love it. I love the story of just forging. These authentic relationships not really expecting anything. Just kind of this is a long longterm thing. We'll see what happens. I mean it didn't take that long to to pay off. You use a fortunate. We met with James for the first time. What was it like. What was it about his vision unlike his leadership at what what sold you on it. I think it was really actually great. There is a lot of things you look for in a go founder and I'm one of the fortunate the people where I didn't have to do this whole co-founder dating thing for for a while it was basically James was kind of either first second meeting and there is there is a lot of qualities you wanna find an leader. You WanNa find somebody. That is authentic that understands this pays this. Also you know one of the bests can across Jeff Bezos says is be very kind of stubborn on where you want to be but very flexible in how you get there and so so I really wanted to get that from my co-founder. I wanted to see where what is. What is that thing that he wants to get out of this company. And where is the company today head we get there. That's going to be a journey. We don't know we're going to discover things out and even that Northstar might change a little bit and the future but it it was really important for us to kind of align our way of thinking that we think the same way or not and that was very kind of imminent India and that I chat with him and so but we really kind of saw the world the same way in terms of tilt had an opportunity to to really just is going to change social behavior change how human beings pulled together for any objective whether there is a college party or building building a bridge and and so we really kind of went after that as our mission

James Shara Founder Co Founder Egypt Co-Founder Tilt Hilt POD You Co Keila Alexandria Egypt Kayla Jason Keeler Texas Jeff Bezos Keel Alexandria Virginia Egypt Virginia Genia
"property manager" Discussed on A REAL ESTATE SHOW

A REAL ESTATE SHOW

15:06 min | 2 years ago

"property manager" Discussed on A REAL ESTATE SHOW

"It's almost like word of mouth but but it's Internet word of mouth and what that is it's Google and yelp and all those other online reviews so if you have good online reviews views you get phone calls because people nowadays they look at competition they look at those reviews and they make a decision and for instance. If I'm a buyer and I'm looking at Zillow and I need agent and I see one zillow agent that has thirty great reviews and another ZIL agent that has to bad refuse whom are going to go with you know so that's most important and for us you know. Oh reviews is important because our customer is to the owner slash investors so when they look up best Orlando or look competition they have opportunity to look at the reviews of different companies and metric educated decision so we get countless calls for people say. Yeah I saw you like what Tucson reviews and we kind go from there and that's Kinda like like I said almost like a word of mouth because they use those reviews almost as a trust worthy per specially when it's a place where they don't even live now. How many are maybe. How do you get reviews like so you have a couple of hundred doors under management and you work with tons of people? How do you go about getting reviews for your company. Are you doing a good job added or I don't think so. I mean the the main thing is just ask you know and then you gotta figure out not only the the ass but anybody anybody can can review meaning for us. We can have a tenant reviewers and say they're great landlord. We can have half owners reviews. We can have other rotors reviews. Anybody can be involved in the deal. That is relevant. You know is different having your mother of who says Oh. My son is great. You know thanks mom. That may not help as much but if it's a review that's linked to what you do as a business. That's the most important type of review because you know at the end of the day. If you don't ask you don't receive and most times people are not gonna unless you do something really great or really bad. People aren't just going to go and review so sometimes you just gotTa go out there and ask and you gotTa make it easy for them. You know where there's you cinema personal link where they can simply click the link in review it it just like Zillow has opportunity where you can just basically click that link and somebody who's clicking Lincoln in review so if you make it easy for somebody and asks for those reviews that just helps build it up. Do you have a lot of reviews. I don't think so I think we have maybe forty forty forty five review offered excellent. You know when you go to Google. Sometimes you see like place for like no reviews or one review and you're like exactly what what does everybody think of this place. I'm about to eat here with my family right. Exactly our goal obviously is get one day. It's GonNa take some time thousand plus reviews but you know the first is goals. Get up to a hundred then just kind of go from there. He Bung building exactly and it takes a little bit more time on our industry because it's not like a sandwich where you go there. Enjoy Sandwich and you review it for us. It has to be kind of consistent owner needs to seeded. He proved his time over this time. Same thing would attending you know over eight months. He's been great communication so it takes more time for us to get reviews so we're kind of happy what we have but obviously the goal is to get more and more and more and the tendency there for a year so you might only only get one review every couple years if they stay in multiple terms exactly you know Chris. What what do you do in terms of like acknowledge intake or or studying or like. How do you stay on top of your game. I would say research yet. You know luckily today's technology environment doesn't mean that you have to go to a physical library anymore. I think lab gates. I don't want anybody not to not to library but you know you. Computer is great right now. There's a lot of false stuff on there so you gotTa pick and choose what's true and what's relevant and not but just looking you can go to spot anything you know from the type of business to the the pros and cons because the best thing that somebody can learn learn from somebody else's mistakes. You know that way you don't create that mistake again for for instance Bene- property manager we have access to different types of whether it's Google chat room where they're at certain different. conversational pieces were property managers from all over even locally can discuss certain topics. Obviously can't discuss anything financial but you can discuss thus issues so that's one component where I look at something. I may have not even expansive before if I read about it and it comes up on down a lot like Oh. This is how they solved it or they didn't bat when they say don't do this like Oh. That's why for instance one of the things when I first started property management the things I've read over and over and over again was the most important Porton stepped property managers at getting the right tenant in there. Don't be fast because you get the rotating fast going to be a headache getting right in it so if it takes longer making sure you get somebody yeah well. Qualified is the most important so I was able to see that and I could say this. Let me knock on some wood but to this date. We've only had one addiction and that person fortunately by the time we got there. She was already moved out but I think that the credit to us to make sure we screen out very thoroughly. All our are tenants and that along with being proactive on the rent side helps us to keep those issues down so and I learned that from reading so I'm an early riser not necessarily morning person but now worked in corporate America. I realize you're getting offers early before anybody else. That's that's when you actually get work done. Yeah you know before those emails cone where calls come so I try to rise early not dedicate you know certain time every morning in to stay. two things study is obviously the industry what's going on the trains. and other thing is Spanish. You know I live in Florida and I should already know Spanish by now but Spanish is very key and banded central Florida's really changed last few years especially with the growing population poppulation of Puerto Ricans. Many people may not know this but outside of New York Orlando has large Puerto Rican population so it's an continue to grow so no one Spanish it is very important for me so I can communicate to the tenants and some of those loans because we get a lot of seven eight seven calls which is Puerto Rico of owners who are trying to buy something and they feel comfortable speaking Spanish to me. If I you know I'm very fluent it just helps so those kinds of things I study every morning at the beginning of the day you you know kind of gets me going for those eight o'clock phone. Call Start Yeah Nice Chris. What questions should I've asked you get an ASCII. You know I think I think one of the big things which I questioned a lot is what your normal day like. You know and you know property. Management is definitely a little bit different than been the binding settlement real estate side. There's pros and cons to both a lot more transactional a lot more deals and they add up so we liked that we see a lot of the same faces you know when you're buying and selling you have a buyer and then once they're going to go for us if the tenant they're going to be around for at least a year and then. I think working outside of your traditional office hours is something that I do. you know what we we do. Since we work with a lot of people in different countries especially Europe there is a lot different ask and we actually have a few clients out of Australia and China so the air twelve and thirteen hours so opposite of us so I do get a lot of calls and emails at nine ten o'clock at night. and I don't want to teach a bad habit of you've responding quick because respond quick expecting but at the same time I wanNA know them. They send us. We're GONNA be communicate because early. Bird gets the worm so if their email mill in new owner or new investor if they email five people that I personally respond is more likely to get that that deal so I try. That'd be you know work around. I don't WanNa see you don't WanNa. Burn yourself out especially a family you. WanNa make sure that your conscience of your wife or your children or even is your brain carina whoever it is time so that's kind of one thing that I would say it's kind of a traditional. I wake up at five five thirty in the morning. you know a lot of emails and studied. You're told you then and then from there. Today can be different. Inspections move in move out dillard's situations like leaks told you about bill customer calls owners asking about stuff so it's all over the place but it keeps the deciding they always goes by fast yeah so when I was going and I was in school to get my real estate license. You talk about like every day's different so I was getting my real estate license and I'll sit next to an investor and he goes hey. I've got a property that the tenant moved out. They were victims which I found out later and he goes hey. Would you like to make some. I'm a student at this time a college student he's like. Would you like to make some extra money cleaned out this this place place. I show up in GONNA paint a pretty picture for you guys but it was it was pretty rough so like how do you guys like some. I guess those quarterly check INS that prevents. Those kind of things like I showed up and it looks like you know animals. Were living in there like I mean. They're little like I pulled out. Animals like very three little animals not not people but so so your quarterly check ins really help prevent over you know something was happening. It only takes three weeks or something to build up but at least if you do quarterly one they know you're coming and then to you're able to non actually prevent something but you can stop something from getting worse you can see exactly and you know if somebody's not supposed to have pets or somebody only has two people on the list and you go there and his cages and like twelve bump beds you you know something's going on. They really like bunk beds and I don't mean for kids. I mean you see full mattresses. Okay something's going on so those ways. He's just kind of you know you look and see what bet owners most important asset is because rollerskates expensive and you. WanNa make sure you take care of that. So that's something that we we definitely do and you know been transparent. We have a our site which is you know upload -able information for for tenants this and for the owners we go in we take pictures like if something needs to be taken pictures of there's damage we take picture so they huma almost half a a real time view of what's going on with that property and you know we try to make sure that we do that in communicate to them mm-hmm and also for those tenants they can upload stuff too 'cause today's time got to harness. All the technology is out there. You know it makes it easy for you and I would say efficiency is key. You GotTa know when to say no. That's another point I wanNA to really here on his way to say no so for me. In our company any beneficient is the most thing we want to do so we can't necessarily take on every single owner and a example this is we got a a request from an owner who seemed like she was desperate. It was opportunity to take on you know eighteen plus units all at once and I asked her about the area and Nina gene was conditioning the place and she'll she told me area. It's like ooh. That's a that's pretty bad area now. There's nothing wrong with taking stuff in you know a area here that's low income because sometimes from an investor side those had the best returns that's exactly but for this particular area her places were in the crumbs really high and most importantly for us..

Zillow Google Florida Orlando ZIL WanNa Tucson property manager yelp Chris Porton Nina gene Europe Puerto Ricans New York Orlando America
"property manager" Discussed on A REAL ESTATE SHOW

A REAL ESTATE SHOW

11:05 min | 3 years ago

"property manager" Discussed on A REAL ESTATE SHOW

"What property that is right away so just kind of taking all that in I mean just I mean you just can't do it. So I mean you mentioned. Something pretty unique like your inventories is really large. It revolves right so it's like when someone mentions an address. How in the world do you remember eight hundred different things or what helps you what tools to you use as a property manager that really helps you serve your clients while she can say oh that one yeah most of the time. It's it's visiting the home yeah I. I can't say that I've been to every single home in our inventory but when I get a chance to I try to go visit any property that we have because when I'm walking not home I I almost do kind of like a visual walk through that. If I've been to a property I can walk through the property in my head so I really focus when I get there and just understanding everything about the property the layout of it where it's located everything like that so that we can kind of at the end of the day. If I've got a call at two in the morning from a tenant saying that there's water reporting out of their their wall there I have to gather myself understand where it's at and and be able to troubleshoot with the tenant as well whereas the water shutoff location and everything like that so it helps helps to know your property emergency situations there too. That's pretty interesting so when you're walking through a property because you managed hundreds and hundreds of houses right so you you've seen gene patterns of things that rent well patterns of things that don't really rent well. Can you share with our investor audience or or maybe even people who you know they have a few houses and they don't live here or whatever could you give us some. Maybe some tips and tricks on how to improve your properties ability to rent. Yes so whenever I'm talking to someone that's looking for an investment property here in central Florida. I have a couple of criteria that I swear by. Its a three to block construction in a a non. Hoa Community Community those are going to be your best returning assets Hoa's will eat into your return off the top. It's hard to get away from them now but if you can't find something in an honor joy community that's your best bet three to tends to be. Your Best Bang for your buck floor plan You'll see rental rates when they go from two bedroom two three bedroom. It's insane you get a huge increase in in Renton that point three to four. You don't get as much talent kind of diminishing diminishing returns there so said three tenths to be your sweet spot. It's going to be a good family home. I could be roommate. Situation could be a single person just looking for more space to have an office because they work from home or something like that as well now so and then we talk about block construction. You just talk about a solid construction home. We do get termites here in Florida would frank construction. It's not if you'll get termites. That's when so the block instructions really a key there and obviously hurricanes and things like that you want something that's going to be solid helped. Hold up to that so it it just kind of putting those three items together really. GonNa help you rent home as quickly as possible do help investors actually find opportunities yeah so so we those same agents that we use to read the homes we have them out in the field to assist our our owners in purchasing homes well so one of our agents helped a an investor from California earlier this year to ten thirty one exchange and this is the beauty of Florida investing because he was able to sell one house in California and by three investment properties here in the Orlando so and they weren't just like your one bedroom condos. They were all three bedroom homes I think they were priced anywhere from two hundred fifty two hundred fifty to three hundred fifty thousand so so just being able to put cash at work in a more diversified space here in central Florida's key. I'm coming from California so you know when when I'm not a property manager sure I'd I only work with investors through my brokerage but when when I'm looking at maybe the buy and hold strategy because most of the time I do wholesale I find acquisitions bring incapital where people together right but one day and I think it's probably smart for me to one day. Create my own. Bein hold shaggy but I personally don't want to get in the reads a management lady. I personally when I go home. I'm with my kids. My wife cooking dinner. Maybe having a drink. I don't want that phone. Call saying you know the water's leaking this or that so like give me some advice about giving started as a real estate investor who buys and holds because I don't. Oh have any right now. Yes I mean it. It's and this may be the manager coming out and be a little bit as well but obviously I taking a look at your overall investment portfolio. What people don't realize that you should take something like investing in real estate into that mindset as well so let's say you're ninety percent stocks ten percent percent bonds real estate acquisition would be a great diversifier in that portfolio because it's a great inflation hedge and offers a steady income when when you talk about cap rates right now you're talking anywhere from. Let's say six to seven percent is okay if you get something eight percent right now. It's a it's a really solid investment. That's it's a great investment but work and you get an investment like like that where you're getting a six percent dividend every year there's not many out there that are stable investments right so this is something that you take a look at that and it. Kinda take a look at what you can afford but at the end of the day if you're looking at bringing bringing professional into the equation and saying hey look this is the property. I'm looking at purchasing this much money. I have understanding that rent will be greater than mortgage payments right right right yeah so that's GonNa be your number one indicator there but also being in a financial position that you have a reserve to handle oh larger pairs as they come up. We dealt with a lot of what I call accidental investors from two thousand five two thousand six where are they became accidental investors because they couldn't afford to sell their home. You better believe those are the ones calling you every month asking if the disbursement is coming through because if they didn't get that rent disbursement they weren't gonNA cover even half their mortgage so it's it's definitely understanding that you're making the smart decision just making sure you know rant versus mortgage payment and as long as you have a decent buffer there and you can keep reserve moving forward in a in a smart manner to invest in real estate. Are there any rules a thumb for what kind of what kind of spread you thinking between like hey here's how much mortgage costs versus. Here's how much rent is. Do you have any rules of thumbs that you guys worked through well. It's kind of your comfortable it there as well what you're willing to take on as far as the spread but when you really break it down you do that cap rate kind of calculation your income minus your expenses to kind of divide that by everything and kind of come up with the cap rate so it's about what you're comfortable as a cap rate to some people are willing to pay a little bit more knowing that the property may increase over time and kind of stash that money any away build equity in the home but I mean years ago you could get a ten to twelve percent cap rate now with the prices that they were the rat when you factor in management fees and everything like that. You're probably looking more like six to seven but like I said it's still a solid investment. When you take into your whole kind of perspective your portfolio knowing that over time you're able to use leveraged. Increase your return as well because let's say you're putting twenty percent down. You're using eighty percent of other people's money to make you more money in the future by paying down mountain building equity so it makes sense so when you got into this industry in this business to where it is today like like. Where do you think the real estate industry is going. You know you've you've got the blessing of having massive volume really fast. You got to see probably patterns like what what are you noticing in the trends of Real Estate Yep. I mean it's an it's a really interesting listing time in real estate right now because of the market conditions so we're seeing interest rates extremely low still which offers people still wanting to purchase homes in in that respect. We're seeing rents increase at an enormous pace here in central Florida I think an article I read out at Forbes said that we were number three behind San Francisco New York Alaso and then I've got a stat here as well. I'm so when you talk about Orlando in general from two thousand fourteen to twenty nineteen. It's been twenty eight percent rent growth so you talk about. That's why we're getting a lot of these outside. Investors Interested in central Florida unemployment's at two point nine percent year so you talk about it's just a really great market to be in for rentals forty percent of the homes here in central. Florida rentals compared to thirty six percent and other states. That's kind of the national average so it's just kind. I have a right place for property management investing everything like that so I I think that's kind of an interesting spot to be in for today day. It'll be interesting to see what happens. Moving forward rates start to normalize on an election year next year will definitely cause some volatility in the markets on but I think the way that we're structured here. In central Florida rents will continue to rise. We have one of the highest population growth rates with people coming here got a great income tax situation that draws people as well so I think we're in. We're in a good a good environment for for real estate investing got when you dove in when you were taking your and your your real estate license right so you're reading a tremendous amount of books. I'm sure he took time off of reading but like a Do you read any books now on on real estate or management or like where do you. Where do you get your education from. Maybe podcasts or like what what's a good resource to learn grill that you'd recommend a lot of it is is reading you see 'em I shout. There got a couple books that I've been through lately so anything from leadership ship-to inner market analysis then just kind of staying up on current events understanding. I try to keep up obviously on the financial markets a little bit not as indepth then I'm as I used to be but kind of just understanding the whole scope of of the environment here and then just seeing how real estate fits into all that so just understanding our local market we do a lot of sales for our owners as well so that's we are full service brokerage we actually offer discounted commission to our owners to kind of help them finish that process and sale and sell the homes for them so it's kind of interesting we get a different taste of the market that way and understanding how things are happening out there. I'm so I have to be well versed in that side of things too. I've had seventy seven sales in the last year. That's so understanding that got kind of just I take knowledge wherever I can. I have done podcast in the past but most of the time just reading books reading articles whatever I can get my hands on Nice so as you're building this where do you think the future of Rpm in your role..

Florida property manager Orlando Hoa Community Community Renton California Hoa Forbes San Francisco New York Alaso one day twenty eight percent thirty six percent eighty percent
"property manager" Discussed on WHAS 840 AM

WHAS 840 AM

01:36 min | 3 years ago

"property manager" Discussed on WHAS 840 AM

"You are a commercial property owner or commercial property manager, wanna talk to you about my friends at spray tech. If you've got a roof situation, on your hands. You know, leakage you got, you got you gotta you gotta bucket that collects. The rainwater that your customers have to walk around you worried about losing inventory to the roof leaks. You may not have to worry about that anymore because spray TEK commercial roofing and roof systems. They have a spray foam and coating application that is one of the only like this in the area. And if you haven't heard about this spray applied roofs, and you wanted to know what that could do for your building? It could probably really help call spray tech, and have them take a look you could restore your aging and leaking roof for half the cost of a total replacement half the cost. So let's say you'd already been told you got to replace the whole thing thinks gives me and then you find out. Wait a minute. It was gonna cost me this much. It's gonna cost me half that to do this other thing. And it's going to fix the problem. Now that's half of the money that I thought I was going to have to spend that I can put back in my business, and I can make sure that my customers are having a good conspiracy, and I can make sure my Electric's don't get wasted from fried by by getting hit by water. And I can make sure my inventory. Stay safe. That is a no brainer. So you can restore your aging or leaking roof, and it could cost as little as half the cost of a, total replacement and their products by the way our warranty for twenty years up to twenty years..

property manager twenty years
Marriott Courts Airbnbs Customers -- with Castle Rentals

Business Wars Daily

04:31 min | 3 years ago

Marriott Courts Airbnbs Customers -- with Castle Rentals

"This episode of business words daily is brought to you by central online from Pitney Bowes simple online makes it easy to save time and money. No matter what you ship or male. Try it free for thirty days and get a free ten pounds scale when you visit PBA dot com slash BW deli. From wondering, I'm David Brown. And this is business wars daily on this Tuesday may seven for those looking to get a jump on the hottest travel destinations for summer consider a ten thousand dollar night Irish castle or how about a Lake Tahoe mountain home. Perhaps these are two of the luxury properties that Marriott has just started offering as part of a brand new home sharing business. The posh digs are far cry from the air mattresses on the floor origins of Airbnb, but Airbnb is now worth about thirty five billion dollars. And as a rival is a thorn in Marriott side until recently Marriott was perceived to be the biggest company in the lodging business with about one point three million rooms, but with five to six million properties available for rent will Airbnb is now the largest lodging operator in the country that according to the Wall Street Journal, the upshot of so much. Sumer choice, Marriott and other hotel chains have been losing a couple of percentage points in revenue in major cities were home. Shares are abundant that sting so much that Marriott has decided to expand its definition of lodging and try to beat Airbnb at its own game. But you're not likely to find rooms in other people's houses or super cheap urban studios for Marriott called homes in villas by Marriott. The new service will offer three night and up stays in two thousand high end properties around the world, the luxurious spaces in Marietta roster are already managed by property managers. Not by homeowners. Trying to make a few extra bucks Marriott has good reasons to fashion it service this way hotel customers, don't like inconsistency. Which by definition is the hallmark of home shares to assure cleanliness amenities and to meet hotel safety codes Marietta's sneaking it's toll into the water gingerly. Airbnb exects or nothing if not savvy, however as Mary edges closer to home sharing Airbnb is sliding into hotel territory. That's right in March Airbnb announced that it will pay about four hundred sixty five million dollars to acquire hotel tonight. That's a last minute hotel booking service in the war between hotels and home. Shares Marriott has one weapon that Airbnb doesn't at least so far frequent travelers love their loyalty points. And Mary says it's rewards program will work no matter what kind of property you stay in. That is reserved that Irish castle and you'll get points, you can use it any other Marriott property, whether it's the Ritz Carlton or a Marriott courtyard on the jersey shore as both Airbnb and hotel chains realize they're in same business, providing travellers with roofs over their heads will Airbnb suddenly develop loyalty program of its own. Those of us who rely on home sharing who. Sure hope so. Brom wondering this business wars daily, if you're a loyal subscriber. Thank you so much, and please share the show with your friends and show them. How to subscribe, would you? I'm David Brown. We'll see you tomorrow. This episode of business words daily is brought to you by central online from Pitney Bowes with sent pro online from Pitney Bowes, you can send everything from packages. Two overnights at letters without leaving your office right from your desk for his low as four dollars ninety nine cents per month, French shipping, labels and stamps from your own printer easily compare rates using send pros online software, get special USPS savings for letters and priority, mail shipping. Plus, you can track all of your shipments and get Email notifications when they've arrived. Try it free for thirty days and get a free ten pound scale when you visit PBA dot com slash BW w daily.

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Do renters have the right to reject smart-home technology?

Marketplace Tech with Molly Wood

06:39 min | 3 years ago

Do renters have the right to reject smart-home technology?

"This marketplace podcast is brought to you by the university of San Francisco. Their new masters in applied economics combines economics training with the practical skills and data analytics needed to understand the new digital economy to learn more and get an application fee waiver. Go to USF C, A dot EDU slash marketplace. This marketplace podcast is brought to you by brother Inc. Vestment tank printers. It's happened to all of us right before an important presentation. The printer runs out of ink brother Inc. Vestment tank printers help put a stop to this. And can literally change the way you Inc. Your choice of up to one or two years of ink included in box helps eliminate the expense and hassle of frequently buying and replacing in cartridges. Learn more at change the way you Inc dot com. Smart homes are all the rage. But do renters have the right to Adum apartment from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. Martin homes. Full of connected devices aren't just for single family homes. And if you're a renter, you might get a smart apartment, whether you want one or not back in January security researcher, and blogger Leslie car heart got a letter from her landlord saying, they're building was getting internet connected door locks and her response was no, thank you. She wrote about it. And ended up finding out that this is a big business. There are multiple quote, smart, apartment, vendors and property managers really want this tech, here's car heart. So there's a lot of good reasons for implementing this technology. First of all, it makes it easier for rental properties to manage maintain the units, especially when they're unoccupied they could do things like monitor for water leaks. They can also make a added convenience for their users which is a good sell for potential residents. You can change your temperature from your phone. You can get grant access to people when you're not home and know, who's accessing your apartment when I'm so there's a lot of benefits there in terms of convenience and also the ab-. Ability for apartment management companies to require less staff to do things like show apartments. All right. And then how about the cons ranging from actual security physical security to privacy. So I often tell people that in terms of security things can be quick cheap secure. But not all three at once. And in this case, the industry is asking asking for this to be implemented quickly and cheaply and consumers really need to be asking for security here for multiple reasons. First of all, you're sending a tremendous amount of data about the way that you live whose home when your home when you go to work, you're sending that out over the internet to multiple parties, and you would extensively want to send that securely. And also, the lock, of course, is granting access to your apartment. So you want to be certain that nobody malicious can grant access to your apartment in a way that unlike breaking into a window or breaking a lock off a door is not really easily detectable how much I know. This isn't your specific area of. Expertise, but how much do you expect this to become a conversation about rights will attendant in the future be able to demand the right to a dumb apartment, and it isn't my area of expertise. I'm not a lawyer. But while I was investigating this. I didn't find any precedent for issues like this. I don't think much has been done. This is all so new and it's coming down the pipe so fast, where did you land in terms of feeling okay? About moving forward with this. I'm buying a house, and yeah. And that's not my threat model, isn't everybody's? I'm a security researcher. I catch bad hackers for a living. And the last thing I need in my life is a system that could be monitored or tampered with by one of the people who I sent to prison. Other people will feel differently, and they have very very different throttles. But it's important to think about these issues because a lot of people don't have a choice whether to rent or not to rent, Leslie, car heart is a security researcher. She wrote a follow up this week to her original post saying she's been working with companies to help deploy apartment. Tech securely. And she'll be speaking at a real estate conference called multifamily tech and entrepreneurship next week in San Francisco. And now for some related links other than the fact that there's an entire conference on this topic, which I guess is not surprising. There's a conference for everything it seems like connected buildings are hot conversation in the property management world, and there's kind of the usual tension for tenants and owners between convenience and security one survey on a site called multifamily executive dot com. Said fifty percent of renters would actually pay more rent in exchange. For smart home features like kilos, entry locks doorbell cameras, or smart, thermostats and speaking of our robot overlords. Remember that cute little social robot named Gebo? It was kind of the precursor to Alexa, and the Google home gadgets. It was a robotic assistant with a really friendly little face, then it could dance and fleece it. Started out as an indie gogo crowdfunding campaign in two thousand twelve by two thousand seventeen time magazine called it one of the best innovations of the year. But now g Bo is basically a casualty of Alexa. And apparently a bunch of knockoffs from China, and it's shutting down and as it servers. Go off line owners of the robot are getting a sad little message. Well, it's not great news. The servers out there that let me do what I do are going to be turned off soon. I want to say I've really enjoyed our time together. Thank you, very very much for having me around. Maybe some day when robots are way more advanced than today, and everyone has them in their homes. You can tell your your said, I said Hello. I wonder if they'll be able to do this. And then it does a little death dance. I'm not crying. You're crying relationship. With tech is really complicated. You guys I'm Ali would. And that's marketplace tech. This is APN. This. Marketplace podcast is brought to you by backlog, developers know, the importance of officiency and transparency when it comes to collaborating on a team backlog is the perfect software development tool for managing issues from start to finish create tasks and track progress with features like Gant and burn down charts. Tackle bugs update teams on various issues and push code out from get backlog do all this and more with one easy tool. Try backlog for your team free for thirty days using the special URL backlog dot com slash marketplace.

Researcher San Francisco Leslie You Inc Alexa Ink Brother Inc Brother Inc Adum Molly Martin ALI China Executive G Bo Google Fifty Percent Thirty Days Two Years
Theodore McCarrick, ABC and Francis discussed on News, Traffic and Weather

News, Traffic and Weather

00:38 sec | 4 years ago

Theodore McCarrick, ABC and Francis discussed on News, Traffic and Weather

"Pope Francis has been dropping some hints says to why he's remained silent in the face of an accusation that he covered up for cardinal. Involved in sex abuse during mass at his Vatican. Residents said silence and prayer are the best responses to those seeking scandal and division that it can observers say his comments allude to the recent call by the Italian archbishop coddling Maria Vigano for the pope to resign in a letter released to conservative Catholic sites. Vegan accused Francis of lifting sanctions against now. Disgraced cardinal Theodore McCarrick, despite vegan. Oh, telling the pope McCarrick sexually preyed on

Theodore Mccarrick ABC Francis Saint Louis Martin Abc Maria Vigano Puget Sound Megan Williams Ken Martin Seattle Property Manager Ten Minutes