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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Very true; well said bukzin (NT) Posted by Tom on May 14, 2009 at 12:59 AM In Reply to: property management posted by bukzin on May 14, 2009 at 9:42 AM : : : 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 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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