225: Property Manager Expectations & Mistakes To Avoid, Houston Market
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 28 January 2019
⏱️ 43 minutes
🧾️ Download transcript
Summary
#225: Learn what manager fees you should pay & not pay.
The “glue” that binds you & your profitable property together is your Property Manager (PM).
Higher PM fees might be better or worse for you - it depends on what duties they perform.
You pay both a Management Fee and a Leasing Fee.
If there’s an activity that you DON’T want to do with your property, then make sure your PM will do it as stated in your Management Agreement.
What should Managers DO? Collect rent, find tenants, market vacant property, perform maintenance, pay bills, handle emergencies.
What DON’T Managers do? Sell or refinance a property for you.
What falls in between? Extensive renovations, evictions, regular maintenance inspections.
We discuss Property Management Agreements.
GRE-Houston is perhaps the best investment market we’ve never discussed before.
As America’s 4th-largest city, Houston has good rent-to-value ratios, low property prices, a vast economy, stunning growth, and laws benefit landlords over tenants.
The Houston provider has BRAND NEW construction SFRs and duplexes for you.
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1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my best-selling paperback: getbook.at/7moneymyths
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Resources mentioned:
Houston Turnkeys: GetRichEducation.com/Houston
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com
Find Properties: GREturnkey.com
Follow us on Instagram: @getricheducation
Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host, Keith Weinhold. When you seek a property manager, |
| 0:06.5 | how do you screen them? What should you ask? And what terms should you expect to see in your written |
| 0:11.5 | property management agreement between you and your manager? Also, what's perhaps the best housing |
| 0:17.7 | market in the United States that we've never discussed before today on |
| 0:21.7 | get rich education. |
| 0:24.1 | Learn the easiest way to create wealth and passive income with real estate. |
| 0:28.1 | Now you can access the best deals without the stress or hassle of having to find, renovate, |
| 0:33.0 | or manage those investment properties. |
| 0:35.0 | Nerada real estate saves you time by providing you with passive income |
| 0:38.6 | investment properties in some of the best U.S. markets. Learn more at passive real estate investing.com |
| 0:44.1 | and download your free copy of the ultimate guide to passive real estate investing. There's no |
| 0:49.4 | obligation and nothing to buy. Simply visit passive real estate investing.com. |
| 0:59.9 | For a real estate investor like you seeking an income property loan, go to Ridge Lending Group, |
| 1:06.3 | NMLS 42056. Over the years, you've heard President Chaley Ridge generously devote her time to you here on the show as a guest. Ridge provides investment property loans in most U.S. states, |
| 1:11.9 | and you're going to find out how they've helped more people realize their dreams of real |
| 1:15.9 | estate financial freedom than any other mortgage lender in the entire nation |
| 1:20.5 | when you get started at ridg lending group.com. |
| 1:26.7 | You're listening to the show that has created more financial freedom than nearly any show in the |
| 1:32.6 | world. |
| 1:34.0 | This is get rich education. I'm Keith Weinhold, and I'm so grateful to have you here for the 225th episode of Get Rich Education when you're about to put another property into your portfolio, |
| 2:03.1 | sometime before you get to the closing table, you need to sign a management agreement. |
| 2:09.1 | That's the document between you, the investor, and the property manager. |
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