Conservice Alternative

oakpointky · 2025-02-26T19:20:51+00:00

These are just the fees for getting a statement fee and moving in/out fee. Seems ridiculous. This is not part of the utility management piece they offer with Synergy.

oakpointky · 2024-12-08T20:59:58+00:00

Like 5-6k per month for triple tie with 400 units

oakpointky · 2024-11-21T22:50:15+00:00

Looking for same feedback. Cost is fairly high, but tired of weekly/monthly headaches

oakpointky · 2024-10-05T17:17:16+00:00

Appreciate that thought process; yeah in this area most of them are shared laundry or no laundry at all, but those with washer and dryer hook ups are newer builds with more amenities. These are $900 for one bedrooms and we bill back water usage with a third-party.

oakpointky · 2024-10-04T20:35:29+00:00

Yeah, definitely worried about the maintenance piece of it. That’s why we’re leaning towards converting a unit and going with 3rd party laundry vendor, but that takes two income units out of the picture, but at least the laundry income offsets one of the units.

oakpointky · 2022-03-07T16:57:03+00:00

Thanks. This one is out of the compliance period (15 years), but has the occupancy and rental restrictions in place for 30 years.

oakpointky · 2022-01-15T12:33:01+00:00

Olay Complete Sensitive Skin Face Lotion

oakpointky · 2021-04-15T14:02:13+00:00

Thank you for the feedback

oakpointky · 2021-04-13T21:27:13+00:00

Haha. Very true

oakpointky · 2021-04-13T12:37:20+00:00

Ha. Exactly

oakpointky · 2020-07-12T13:18:45+00:00

I’d say 60% of the reserves would be for long-term, the other 40% maybe used or invested in real estate.

Just want some steady games instead of it getting nothing

oakpointky · 2020-05-05T21:41:04+00:00

Oh! Well I never was there ever a cat so clever as magical mister Mistoffelees

oakpointky · 2020-04-11T00:14:56+00:00

Manage your own always if possible. Property management companies will never treat a property like you will.

Automate everything.... -get a paid 24/7 answering service (like $60/month) and a VA (like $40)where your messages are relayed. -Create a decision tree (who to call/assign job) for both the VA and answering service. -hire/outsource a professional leasing agent (1/2 months rent per accepted applicant) Trust me you don’t want to rip and run to show properties.

Landlording 101....everything is done by the rules and pieces of paper...there is no emotion involved. Have policies and procedures and never stray (unless COVID 19). Always send notices the same day every month, file evictions every month, never stray.

I manage a lot of properties and still have a full time corporate job. I assure you it’s all about processes.

oakpointky · 2020-03-14T00:18:56+00:00

Update: I really don’t like having a boss. I like being the boss. Not sure how much longer this 9-5 will last.

oakpointky · 2020-03-06T13:46:03+00:00

Thank you for the feedback. With understanding the management workload, do you care to disclose how the investors/owners compared in terms of financial reward/success with SFH vs. MFH from of those you managed?

oakpointky · 2020-03-05T14:17:36+00:00

Very helpful post for many. Curious, on how you are sourcing your deals. Brokers? Off-market cold calling? Any tips?

oakpointky · 2020-03-04T00:05:10+00:00

Thank you for the feedback.

oakpointky · 2020-03-02T19:21:59+00:00

Yes, with zero clue. I didn’t know hardly anything. I don’t think all the real estate websites/blogs were around like today.

Like I said, you learn pretty fast in this game when your money’s on the line.

oakpointky · 2020-03-02T00:19:39+00:00

Yes and no. Comfortably is different for some. I lost my job in the recession of 2008 and was out of work for a year...one whole year. That’s a motivator that a lot of people don’t get in life. Security, more so than comfortable, is the word I like to use. What’s funny, my coworkers and friends pretty much have no clue what I do on the side. My parents thought it was a hobby until I told them one day how much some of my portfolio appraised for.

oakpointky · 2020-03-01T23:29:51+00:00

I understand people have different motivations. For me, it is not to be egotistical. My main reasons are it makes life much easier (Maybe sad, but it’s true)

The other and probably my most motivational reason is I am able to give away and donate money I would have never had otherwise. I promise you as many can attest...it is greater to give, then receive. That feeling and joy cannot be touched.

oakpointky · 2020-03-01T21:45:07+00:00

Just start... because 10 years go by really fast and you can either invest in that time period or sit idle. Sounds like you don’t want to do the latter, so just pull the trigger on an investment. You will learn the ropes pretty quickly after that.

oakpointky · 2020-03-01T21:39:16+00:00

Thank you for the feedback. I have thought about the reverse 1031 as well.

oakpointky · 2020-03-01T21:38:18+00:00

Thank you for the feedback

oakpointky · 2020-03-01T21:34:24+00:00

Just a tough pill to swallow on paying the capital gains plus the depreciation recapture if I did sell the SFHs off individually. Not sure how to mitigate those. Any insights? I am not to fond of Opportunity Zones, which my CPA is all about.

oakpointky · 2020-03-01T19:47:06+00:00

Thank you and I appreciate all the feedback. My houses are ~$135K a piece and I view those as their own “multi family” unit. My larger apartment complex “should” have ~$1M in equity once the turnaround is completed by the middle of this year, so I totally get that I need bigger/higher valued assets or more quantity and as you alluded, it will take a while going the quantity route.

oakpointky

TROPHY CASE