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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] property management Posted by bukzin on May 14, 2009 at 9:42 AM In Reply to: Re: Home Transfer Suggestion posted by Dan on May 13, 2009 at 5:08 PM : : Why don't you and your Sister just buy the new house for her and get a conventional loan, or help Mom qualify for an FHA loan. : : If you choose this option, you wouldn't need to touch the So Cal house. If you were to use it for a loan, you'd have to either take it out of the trust to get a conv. loan and put back into trust, or get a hard money loan to the trust from some expensive lender like me. : : Simple is good. : Why cant you and your sister get power of attorney for the house here and do the rentals for her....until the market improves. : With all the foreclosures in Vegas Valley, : You should be able to get some awesome financing. Or finance the house here to pay for the house there. Then when the market improves sell the house here. : If you dont want to deal with tenants, any management company will manage if for you for a couple of bills a month ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ I have been in the rental game for 20+ years as a owner/manager/repair person. If you do elect to go with outside property management be careful in the selection of the company. This is a field that makes its profits from quantity, not quality. In other words, lots of units poorly attended to. One of the ways to learn about the company you are considering is to find out how much the office staff/property mgr. is being paid. This is a low wage business as a rule. No matter which outfit you choose you need to MANAGE YOUR MANAGER! Good luck Follow Ups: Very true; well said bukzin (NT) Tom 12:59 AM, 05/14/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : Why don't you and your Sister just buy the new house for her and get a conventional loan, or help Mom qualify for an FHA loan. : : : If you choose this option, you wouldn't need to touch the So Cal house. If you were to use it for a loan, you'd have to either take it out of the trust to get a conv. loan and put back into trust, or get a hard money loan to the trust from some expensive lender like me. : : : Simple is good. : : Why cant you and your sister get power of attorney for the house here and do the rentals for her....until the market improves. : : With all the foreclosures in Vegas Valley, : : You should be able to get some awesome financing. Or finance the house here to pay for the house there. Then when the market improves sell the house here. : : If you dont want to deal with tenants, any management company will manage if for you for a couple of bills a month : : ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : I have been in the rental game for 20+ years as : a owner/manager/repair person. : If you do elect to go with outside property management : be careful in the selection of the company. : This is a field that makes its profits from quantity, : not quality. In other words, lots of units poorly : attended to. : One of the ways to learn about the company you are : considering is to find out how much the office staff/property mgr. : is being paid. : This is a low wage business as a rule. : No matter which outfit you choose you need to : MANAGE YOUR MANAGER! : Good luck [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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