Not sure what you are fishing for with that question. The answers are limitless - several factors.
- With/without a PM
- Low income vs working class vs lux building
- age of property = repairs
- Are you doing the repairs yourself or do you use a handyman
- Type of property -SFH vs duplex vs 4-plex
I use a PM and have 6 low income props (15 units). I have a full time job and I spend about 40 hours a month doing REI. 5 hours of that I spend on the properties I have - 35 looking for more.
I should have been clearer. For those who act as PMs themselves, how much time do you spend on each prop per month. I know there are a million variables that can differ one prop to the next so an average number would be great.
I have one property that he spends 1-2 hours a month. Basically driving to pick up rent. Very little repairs. In fact last year I spent $200 on that duplex.
I have a 4-plex that he spend 10 hours/month due to repairs - problem tenants, evictions etc (but we a cleaning the place up still)
I currently work 40 hours a week. I am thinking it may be viable as a side project if the number of properties is kept low. What kind of fees can a small PM expect? I am thinking 5-7% to attract people away from the bigger, more established PMs in the area (Atlanta).
If you manage properties for yourself, then go ahead. In FL, you can not manage properties for other people, for compensation, if you are not licensed. Are you an experienced landlord? If not forget it. If you are an experienced landlord then it is still tough. The liability issues are huge. when the pit bull bites the kid, they are coming after everybody including you. You would want to be a PM in an LLC and have liability insurance (if you can find it).
1. What type of roofing system? No reputable roofer will do entire buildings with shingles on a 2/12 slope.
2. Assuming a minimum 4/12 slope, and apparently 55 squares per roof, 5000 square feet from your dimensions, plus a 10% scrap factor, your agent is telling you you will be able to get a roof on at $4000/55=$72.00 per square, not to mention the venting.
I predict that will not happen. Not even close, assuming you want it done by insured and legitimate roofing company.
Figure on it being more like $150/square, and that will vary due to local regulations, trash costs, and labor market
[addsig]
im an architect here in chicago. if the roof is a 2:12 slope it should not have shingles. wind driven rain and the wind itself can uplift the shingles........the best pitch for a roof with shingles is minimum 4:12. having said that a 2:12 pitch is best suited with a rolled on, membrane applied, type of roof. get a couple bids from a reputable roofer.
Not sure what you are fishing for with that question. The answers are limitless - several factors.
- With/without a PM
- Low income vs working class vs lux building
- age of property = repairs
- Are you doing the repairs yourself or do you use a handyman
- Type of property -SFH vs duplex vs 4-plex
I use a PM and have 6 low income props (15 units). I have a full time job and I spend about 40 hours a month doing REI. 5 hours of that I spend on the properties I have - 35 looking for more.
I should have been clearer. For those who act as PMs themselves, how much time do you spend on each prop per month. I know there are a million variables that can differ one prop to the next so an average number would be great.
Thanks.
I can answer for my PM too.
I have one property that he spends 1-2 hours a month. Basically driving to pick up rent. Very little repairs. In fact last year I spent $200 on that duplex.
I have a 4-plex that he spend 10 hours/month due to repairs - problem tenants, evictions etc (but we a cleaning the place up still)
In your opinion, could some one run a small PM business part-time? Would it even be worth the effort financially?
I currently work 40 hours a week. I am thinking it may be viable as a side project if the number of properties is kept low. What kind of fees can a small PM expect? I am thinking 5-7% to attract people away from the bigger, more established PMs in the area (Atlanta).
If you manage properties for yourself, then go ahead. In FL, you can not manage properties for other people, for compensation, if you are not licensed. Are you an experienced landlord? If not forget it. If you are an experienced landlord then it is still tough. The liability issues are huge. when the pit bull bites the kid, they are coming after everybody including you. You would want to be a PM in an LLC and have liability insurance (if you can find it).
Brenda
Go out and buy Robert Shemins, secrets of a millionaire landlord, it will help you.
[addsig]
1. What type of roofing system? No reputable roofer will do entire buildings with shingles on a 2/12 slope.
2. Assuming a minimum 4/12 slope, and apparently 55 squares per roof, 5000 square feet from your dimensions, plus a 10% scrap factor, your agent is telling you you will be able to get a roof on at $4000/55=$72.00 per square, not to mention the venting.
I predict that will not happen. Not even close, assuming you want it done by insured and legitimate roofing company.
Figure on it being more like $150/square, and that will vary due to local regulations, trash costs, and labor market
[addsig]
More likely the agent is pulling the roofing number out of some part of his or her anatomy... Never trust agent numbers. Get bids...
As a transplanted Californian - pitches in CA/AZ/etc. definitely can get away with less slope that out east.
-Jeff
im an architect here in chicago. if the roof is a 2:12 slope it should not have shingles. wind driven rain and the wind itself can uplift the shingles........the best pitch for a roof with shingles is minimum 4:12. having said that a 2:12 pitch is best suited with a rolled on, membrane applied, type of roof. get a couple bids from a reputable roofer.
i hope this helps
BC
I live in CA and have gotten bids for work to be done in AZ and it IS a lot cheaper. Sometimes even 1/2 as cheap!
"A EPDM membrane roof is: $165 per sq (labor + mtl) x 53
squares = $8,700 "
You might double that one. At least.
[addsig]
in my area 1 square of dimentional shingles with one layer of tear off would go any where from $180.00 to $ 210.00 per square (100 sq. ft.)
its expensive in california
John