# 7 – Property Managers # 9 – “ The Rise of the Fake Gurus ”
Most property managers are honest and hardworking . They deal with tenants . WHEW ! No fun ! But here are some caveats for you .
A ) Most property managers do not make the effort to inspect unit interiors regularly , so some tenants run down the unit . Insist on quarterly inspections . Pay extra if necessary . It ’ s cheaper than accumulating unit damage . If your manager won ’ t / doesn ’ t do it , it ’ s time for “ NEXT !”
B ) Some managers make work for their contractors and handypersons , some of whom are often relatives and friends . They authorize unneeded repairs . Be alert to this . ( I got conned out of an $ 8,700 septic tank installation once . The manger was in cahoots with the county sanitarian .)
C ) Some managers have “ kickback ” arrangements with the people they hire .
D ) Some managers apply a percentage “ markup ” to the parts they buy . They say this compensates for the purchasing effort . This is a load of fertilizer ! Simply buy the parts yourself after getting a detailed list from the manager or the contractor .
Photo by Nataliya Vaitkevich from Pexels
Image by Ulrike Leone from Pixabay
# 8 – Education and Training
One buzzphrase in real estate lately is “ move to the next level ” or “ scale up ”. This is accomplished only by education , training , and experience . Yet as the real estate boom has grown , teachers , trainers , and mentors have proliferated .
Consequently , it is essential that you pick quality contributors to your growth . Sometimes , it is hard to tell amidst all the hype .
You can be pretty confident of quality if you are involved with REI Wealth . Linda Pliagas , the founder and publisher , has had a career in real estate of several decades as an agent , multiple investor , and journalist / publisher . Her mission is to help investors grow and succeed . Realty411 and REI Wealth magazines have high standards for their articles , and their expos nationally have high standards for their exhibiters and presenters . Charlatans are not tolerated !
Another resource is myself . With 40 years as a Realtor ® with over 800 transactions of all kinds , including owning over 300 investment properties myself , I offer readers the benefit of my experience . See the accompanying biography for contact information .
Please go to YouTube and watch “ The Rise of the Fake Gurus ”, which is a 21- minute detailed expose how fake “ gurus ” lure their victims from free “ workshops ” all the way up to $ 40,00060,000 “ bootcamps ”. Definitely watch it at least once !
Wrapup
As the market continues to heat up , new investors are entering real estate all the time . This article is meant to highlight some of the larger risks , pitfalls , and cons they will want to avoid as they grow . Best wishes with that ! 2953
MEET BRUCE KELLOGG
Bruce Kellogg has been a Realtor ® and investor for 40 years . He has transacted about 800 properties in 12 California counties . These include 14 units , 5 + apartments , offices , mixeduse buildings , land , lots , mobile homes , cabins , and churches .
He writes and edits copy for Realty411 and REI Wealth magazines .
Mr . Kellogg is a recipient of an Albert Nelson Marquis Lifetime Achievement Award , listed in Who ’ s Who in America – 2019 .
Mr . Kellogg is available for consulting about syndication , “ turnkey ” investments , jointventures , and other property purchases nationally , and other consulting assignments . Reach him at
brucekellogg10 @ gmail . com , or ( 408 ) 4890131 .
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