The OFFICIAL Real Estate Investing thread

South Paw

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Try researching these guys.

Spring EQ Home

I’m currently working with them on a investment property, my only issue is their slow as fukk, and need a lot of paperwork.
I'll check them out. I have a application to get a heloc from my bank after meeting w/ them as well. I need to go back there with the application and see if I can get approved. things just been hectic lately

:salute:
 
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.r.

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I'll check them out. I have a application to get a heloc from my bank after meeting w/ them as well. I need to go back there with the application and see if I can get approved. things just been hectic lately

:salute:

let the board how it works out, for me personally. This shyt is annoying AF, I think they probably drag ass until it gets close to the end of the month. The only cool shyt I noticed is how organized I am.
 

JBone4eva

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Glad I found this thread. :salute:

I'm a novice but I've been saving/investing/reading for 2 years in preparation for jumping into real estate investing, I'm going the small multifamily route and I'm looking for my first property now. I live in the bay, so I've gone the out of state investing route in the twin cities, I've got family there and they've been a big help. My plan is to cop a duplex, then if things go well in a few years a triplex, then when I get my student loans paid off through my job, we're gonna move down there and owner occupy a 4-plex. its been a bit nerve wrecking, but I just need to make it happen, and get this first property out the way so I can move forward and slowly develop a portfolio. Anyone here do any of out of state investing?

What’s your opinion on working with multiple agents?

I like my current agent, although she doesn’t put any effort to helping me select houses and I’m not sure if she’s putting in offers behind my back.

We also have no exclusivity agreement.

I feel you on this. I really like my MN agent, she's helped me find properties and gives good input. She's also helped my mother get her spot down there, but she doesn't have many investor clients and doesn't have any property management or contractor resources for me. Finding good and reliable property management is the part I am most nervous about because it is going to be so vital for me, it seems like they're hard to find and everyone has shyt reviews :lupe:
 

The_Unchosen_One

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Glad I found this thread. :salute:

I'm a novice but I've been saving/investing/reading for 2 years in preparation for jumping into real estate investing, I'm going the small multifamily route and I'm looking for my first property now. I live in the bay, so I've gone the out of state investing route in the twin cities, I've got family there and they've been a big help. My plan is to cop a duplex, then if things go well in a few years a triplex, then when I get my student loans paid off through my job, we're gonna move down there and owner occupy a 4-plex. its been a bit nerve wrecking, but I just need to make it happen, and get this first property out the way so I can move forward and slowly develop a portfolio. Anyone here do any of out of state investing?



I feel you on this. I really like my MN agent, she's helped me find properties and gives good input. She's also helped my mother get her spot down there, but she doesn't have many investor clients and doesn't have any property management or contractor resources for me. Finding good and reliable property management is the part I am most nervous about because it is going to be so vital for me, it seems like they're hard to find and everyone has shyt reviews :lupe:


As someone in Property Management, it's such a toxic work environment... I'm getting out over the next couple months... been doing this the past 11 years with leasing/maintenance/accounting... the tenants are the dumbest people in the world... can't figure out how to pay online... won't report maintenance issues so a small issue turns into a huge issue because they wait for shyt to hit the fans to say something.. upper management in companies is clueless as to how day to day operations really works, they run around saying shyt.. but what they say isn't practical... they don't listen to people who aren't kissing their asses and telling them they are so smart and shyt... I've told my boss over and over again that he's a fukking idiot for stupid shyt he says... he can't afford to get rid of me so :yeshrug:


Owners are selling all the properties I work for now... so once they sell... fukk it, i'm taking the severance and I'm out... I don't need the bullshyt anymore... Lived on site and my sister that does our leasing at this property lives in my house so she paid my mortgage and I got free rent... but after telling them over and over and over again to report maintenance issues to her first, to not bother me at my apt... they still pound on my door and if I don't answer my door... they literally start pounding on my windows... I don't get days off... I don't get any peace... it's literally hell

Now that we are selling as well... the building foundation apparently shifted and snapped the kitchen drain line which is under my living room... so when my upstairs neighbor uses water or does dishes... my sink fills up with sludge and grease and everything... whole apt smells worse than I can describe... I have to use the shop vac to empty the kitchen sink like 5 times a day... and in order to fix all this... they're gonna have to jackhammer the floors open.... that's even if they want to shell out the $5k to do it... which they might say fukk it until they sell and let it be the new owners problem and just make me live in hell even more

But now there's a huge shortage in the property management field as far as maintenance goes... people apply but don't show up for interviews... because these property management companies don't pay for shyt.

Sister is buying a house, I'll be moving into my house, taking my severance and just gonna do some day trading and not work for a bit and probably get my real estate license in the spring and weigh my options at that point... but to anyone in property management... :salute:, it's a thankless job... nobody appreciates you, and all the tenants just try to get over on you time and time again... keep your head up!!!
 

JBone4eva

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As someone in Property Management, it's such a toxic work environment... I'm getting out over the next couple months... been doing this the past 11 years with leasing/maintenance/accounting... the tenants are the dumbest people in the world... can't figure out how to pay online... won't report maintenance issues so a small issue turns into a huge issue because they wait for shyt to hit the fans to say something.. upper management in companies is clueless as to how day to day operations really works, they run around saying shyt.. but what they say isn't practical... they don't listen to people who aren't kissing their asses and telling them they are so smart and shyt... I've told my boss over and over again that he's a fukking idiot for stupid shyt he says... he can't afford to get rid of me so :yeshrug:


Owners are selling all the properties I work for now... so once they sell... fukk it, i'm taking the severance and I'm out... I don't need the bullshyt anymore... Lived on site and my sister that does our leasing at this property lives in my house so she paid my mortgage and I got free rent... but after telling them over and over and over again to report maintenance issues to her first, to not bother me at my apt... they still pound on my door and if I don't answer my door... they literally start pounding on my windows... I don't get days off... I don't get any peace... it's literally hell

Now that we are selling as well... the building foundation apparently shifted and snapped the kitchen drain line which is under my living room... so when my upstairs neighbor uses water or does dishes... my sink fills up with sludge and grease and everything... whole apt smells worse than I can describe... I have to use the shop vac to empty the kitchen sink like 5 times a day... and in order to fix all this... they're gonna have to jackhammer the floors open.... that's even if they want to shell out the $5k to do it... which they might say fukk it until they sell and let it be the new owners problem and just make me live in hell even more

But now there's a huge shortage in the property management field as far as maintenance goes... people apply but don't show up for interviews... because these property management companies don't pay for shyt.

Sister is buying a house, I'll be moving into my house, taking my severance and just gonna do some day trading and not work for a bit and probably get my real estate license in the spring and weigh my options at that point... but to anyone in property management... :salute:, it's a thankless job... nobody appreciates you, and all the tenants just try to get over on you time and time again... keep your head up!!!

Damn, def sounds like a thankless job, I'm glad you're getting out of that. As a professional, what advice would you give me in my search for a trustworthy property manager? what red flags should I look for? do you think a larger company is the way to go, as opposed to a single realtor who also manages? seems like the going rate is 10% the monthly rent, but I found a place that offers 8% and another that starts with 6%. I'm going to try and get whomever i work with to stay around 6% by offering to handle collecting payments myself through property management software. what does your company charge? I'd love any input you can offer.
 
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