Property Management Essentials for Investors
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Transcript of Property Management Essentials for Investors
PROPERTY MANAGEMENT
ESSSENTIALS FOR INVESTORS
presented by Omar Ruiz
WHO IS OMAR RUIZ?
• Grew Up in Orange County
• Marketing Degree from CSULB
• Aerospace Quality Manager/Consultant
• Property Management Since 2007
• Real Estate Investor Since 2010
• Blog Featured on Rent-O-Meter
• Podcast Interview by Rod Khleif and Joe Hamilton
WHO WE ARE
LeRu Investments, LLC is a real estate investment and property management company. We buy
commercial and residential real estate with value-add opportunities to create favorable return on
investments. We deliver professional real estate services that facilitate the buying, selling and
management of real estate assets.
OUR MISSION:
The mission of LeRu Investments, LLC is to provide our investors and clients good real estate
investment opportunities and professional real estate investment services based on our core values
of integrity and superior service.
We do this by performing in-depth market research and statistical analysis of businesses and
operations to determine their value potential.
3 KEYS TO PROPERTY MANAGEMENT
• Leasing Units
– Larger Properties VS. Smaller Properties
• Keep Units Leased (Tenant Retention)
– Responding to Tenant Requests
• Maintain the Property
– Repairs, Improvements, Upgrades
SHOULD YOU SELF MANAGE?
• Ask the HARD QUESTION?
• Are you business minded?
• Do you have the time?
• Are you handy?
• Are you knowledgeable?
• Can you follow systems?
• Extremely Tactful?
WHERE OWNERS FAIL
• Fair But Firm
• Not Serving 3-Day Notices Timely and
Consistently
• Accepting Excuses
• Not Collecting Late Fees
• Not Evicting Timely
• Burned Out Landlord
LENDER CONSIDERATIONS FOR
PROPERTY MANAGEMENT
• If Self-Manage, Is There Experience?
• If 3rd Party, What is Their Portfolio?
• Your Experience & Location?
FINDING PROPERTY MANAGEMENT
• Web Search
• Call Realtors & Brokerages
• Referrals
• IREM.org
• Negotiating on Contracts
• Questions to Ask:
• Review Financial Statements
• Keep an Eye on Expenses
• Checking on Property & Staff
• Ask Questions
OVERSEEING PROPERTY
MANAGEMENT
DOES SEC-8 MAKE SENSE?
• What Are the Income Demographics?
• What is Pool of Prospects?
• What’s the Demand for Housing?
• Pros VS. Cons
• Collections
• Consistent Late Payers
• Tenants From Hell
• Squatting
• Customer Service Fulfillment
• Evictions
• Law Suits
• Screening Them Out
PROBLEM TENANTS
• www.Evict123.com
• www.AOAUSA.com
• www.IREM.org
• www.Landlordology.com
• www.mrlandlord.com
USEFUL LINKS
Have You Ever Considered Working with an
Experienced Team on Multifamily Opportunities
Give Us a Call
888-682-2290