- Joined
- Oct 21, 2007
- Messages
- 181
Thank you, REIN!
We just want to say thank you to REIN and to all of its members who have helped us this past month as we worked through many difficulties with our properties in Grande Prairie.
Just to recap, in July, as brand new REIN members, we bought our first two properties in GP--two sides of a duplex. Everything went swimmingly until it came time to rent them. That`s when we encountered multiple problems with two PM companies--first one, then another. We were confused by many voices telling us different things about the market, the vacancy rate, rents, etc. It didn`t help that we were busy buying our third property in Edmonton and just trusted that the PM in GP would take care of everything. They didn`t, and weeks went by with our properties sitting empty. We hired a second PM.
By October, we were getting very discouraged as we were carrying four mortgages and felt a bit trapped, feeling insecure about buying more properties until the problem was solved. So, after Quickstart, we decided to take action. We elicited the support of REIN by emailing them and by posting on the Forum. The help that we received was sensational.
People told us how to market, from writing ads following the Solid Oak method to posting directional signs, how to interview tenants, how to screen them, how to do credit checks. We learned how to interview property management companies, what to look for in both them and in tenants. We had one REIN member offer to show our place for us and another offer to run errands for us when he is in GP.
For a month now we have worked tirelessly writing ads, recording voice mail messages, interviewing tenants, making and posting signs, showing our properties, etc. We made a few trips to Grande Prairie and did some hands-on management.
The result is that with the help of REIN and an awesome new PM company, we now have both sides rented to what we believe are quality, equity building tenants. We can`t believe how satisfying all of this has been. We are now landlords, and boy, does it feel good!
What we have gained in experience, confidence and inspiration has been worth the lost $ from vacant properties. Those dollars weren`t lost; they were invested. Had our properties rented right away, we wouldn`t have been any wiser. Now we are.
We just completed our first DCR Worksheet on our revenue properties and was that exciting! The numbers work, and we are on the prowl for our fourth property. Thanks again, everyone. I know that we couldn`t have done it without all of your help.
Wayne and Dianne Dachyshyn
We just want to say thank you to REIN and to all of its members who have helped us this past month as we worked through many difficulties with our properties in Grande Prairie.
Just to recap, in July, as brand new REIN members, we bought our first two properties in GP--two sides of a duplex. Everything went swimmingly until it came time to rent them. That`s when we encountered multiple problems with two PM companies--first one, then another. We were confused by many voices telling us different things about the market, the vacancy rate, rents, etc. It didn`t help that we were busy buying our third property in Edmonton and just trusted that the PM in GP would take care of everything. They didn`t, and weeks went by with our properties sitting empty. We hired a second PM.
By October, we were getting very discouraged as we were carrying four mortgages and felt a bit trapped, feeling insecure about buying more properties until the problem was solved. So, after Quickstart, we decided to take action. We elicited the support of REIN by emailing them and by posting on the Forum. The help that we received was sensational.
People told us how to market, from writing ads following the Solid Oak method to posting directional signs, how to interview tenants, how to screen them, how to do credit checks. We learned how to interview property management companies, what to look for in both them and in tenants. We had one REIN member offer to show our place for us and another offer to run errands for us when he is in GP.
For a month now we have worked tirelessly writing ads, recording voice mail messages, interviewing tenants, making and posting signs, showing our properties, etc. We made a few trips to Grande Prairie and did some hands-on management.
The result is that with the help of REIN and an awesome new PM company, we now have both sides rented to what we believe are quality, equity building tenants. We can`t believe how satisfying all of this has been. We are now landlords, and boy, does it feel good!
What we have gained in experience, confidence and inspiration has been worth the lost $ from vacant properties. Those dollars weren`t lost; they were invested. Had our properties rented right away, we wouldn`t have been any wiser. Now we are.
We just completed our first DCR Worksheet on our revenue properties and was that exciting! The numbers work, and we are on the prowl for our fourth property. Thanks again, everyone. I know that we couldn`t have done it without all of your help.
Wayne and Dianne Dachyshyn