618: Seeing Greene: Is My Property Manager Skimming Off the Top?
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 5 June 2022
⏱️ 47 minutes
🧾️ Download transcript
Summary
Property management is a crucial part of your real estate investing business. They make repairs, take tenant calls, and most importantly, collect rent. But what happens when your property manager stops contacting you, forgets to send signed leases, and doesn’t send you your rent checks? When is it time to start worrying and how do you go about asking a property manager for your money back?
Welcome back to Seeing Greene, where your expert investor, agent, lender, and podcast host, David Greene, answers some of the most commonly asked real estate investing questions. In this episode, we take both video and written submissions and throw them at Dave to get his time-tested take. You’ll hear questions like, whether to pursue a business or buy rental properties, when to sell an investment property to reinvest profits, how to look for joint venture partners, and what to do when you’re concerned about your property manager’s performance.
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!
In This Episode We Cover:
When to start a business or buy a rental property (and how to do both)
Why ROE (return on equity) beats ROI (return on investment) in 2022
What to ask a potential partner to see if they’re a good fit for a joint venture deal
How to score lower interest rates on mortgages as a self-employed investor
When and which rental property repairs to prioritize after a home inspection
What to do when you suspect a property manager may be skimming off the top
And So Much More!
Links from the Show
Ask David Your Real Estate Investing Question
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Stay Tuned for Our Upcoming Episode with Ed Mylett
5 Red Flags to Watch For When Hiring a Property Manager
Book Mentioned in the Show
Long-Distance Real Estate Investing by David Greene
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Transcript
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| 0:00.0 | This is the Bigger Pogas Podcast Show, 618. |
| 0:04.4 | So how can you do both? |
| 0:05.7 | Well, you can start off by house hacking, put 3.5% down, 5% down on a single family home |
| 0:11.7 | that puts the seat in the ground for at least one property. |
| 0:14.2 | You can do that every single year. |
| 0:16.4 | You can then put a lot of your time, attention, energy into growing the business, |
| 0:21.7 | and taking the money that comes from that business and reinvesting it until you don't need to |
| 0:25.8 | reinvest the money anymore, where you can then take it and reinvest it into real estate. |
| 0:30.2 | What's up everyone? |
| 0:31.0 | My name is David Green and I am your host of the Bigger Pogas Real Estate Podcast. |
| 0:35.6 | If you're ever wondering why we say things like this and show, |
| 0:39.6 | it's because Josh Dorken, the founder of Bigger Pogas, started doing the podcast like that |
| 0:43.5 | and I just can't help myself but do it because I listen to Josh for so long. |
| 0:47.7 | Josh, shout out to you. |
| 0:48.6 | If you happen to be listening to this, hope you're doing great out there. |
| 0:51.2 | In Hawaii, you're getting plenty of sun and things are going well for you. |
| 0:54.5 | If this is your first time listening to the podcast, here we at Bigger Pogas are here to bring |
| 0:59.6 | you as much information as we can about how you can build well through real estate. |
| 1:02.9 | Today's show is a slightly different format than what we normally do. |
| 1:06.4 | It's called Scene Green. |
| 1:07.5 | That's why the life behind me is green. |
| 1:09.0 | In today's format, people like you submit questions about their real estate career, |
... |
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