All Forum Posts by: Adam Shindler

Hey BP,

I've owned and managed 6 units for nearly a year now, and I was curious to see how often you landlords out there visit your properties to check-in and maybe do some light work in picking up loose twigs, garbage, etc.  

My tenants are great payers and I haven't had any maintenance issues in awhile so I've had no reason so stop by.

I appreciate your feedback!

2196 Walnut Lake Road, West Bloomfield, MI

For Sale

-Free Standing Office Building

-Excellent Owner/Occupant Opportunity

-Recently Renovated

-Brand New Windows & Newer Roof

-High Visibility Location

-Deeded Walnut Lake Privileges

Asking Price: $325,000

You can reach me at 248-770-4785 or at [email protected]

Question.

I've started to purchase buy and hold properties off the MLS, targeting a COC return of about 12% and I was curious to see what others are expecting on their buy and hold investments? Is that ROI low, high, or average. Mind you- I self manage these properties (multi family 2-4 unit), put between 20-25% down and am looking to invest in "better" neighborhoods.

Thank for the feedback!

I'm interested in picking up a book to improve my interpersonal/networking skills as well sales and marketing skills.  Any suggestions?

I passed on this property.  The floors were suspect at best, and there were issues with the furnaces and the seller was unwilling to negotiate.  Thank you for your feedback!

Hello BP Community,

It appears as if I will be inheriting tenants in one unit of a duplex I am purchasing.  

Here is my questions:

The current tenants are smokers, the unit reeks of smoke, and I can't imagine the damage that has been done to the place over their 7 year tenancy.  My policy for rental screening is "no smokers allowed", however I understand that these tenants pay on time and are nice, quiet people.

Because I suppose the damage is already done, should I just let them stay and go through the necessary rehab when they vacate eventually?

"Floor structure had a represented number of non-standard beam and joist supports... their long-term ability to maintain support is unpredictable"

Hello,

After having a property inspected, I have been informed that the property which was built in 1936 has some floor issues.  While I was assured that it would be fine in the short (10+ year) term, due to Non-Standard Beam Supports, I may run into issues in the long term.  

Should I consider this a deal breaker?

Should I ask for a reduced price?

Any help would be greatly appreciated!

Hello,

I am a buy and hold investor who has run into a road block.  I have dried up my private and portfolio lending options and cannot secure a conventional mortgage because I do not have a W-2 job.  I am considering partners or getting a W-2 job that will allow me to continue growing.  Any suggestions on either the partner front or what I may do in terms of employment that will allow me to also keep a pulse on my business?

Here is where I'm at:

I have raised capital and have an excellent credit score, however, because I do not have a W-2 job or 2 years of self employment under my belt, I cannot secure a conventional loan.  Portfolio lending is very difficult to lock down and a buy and hold investor, hard money is not something I am interested.

My solution has become to ask for partners, simply on paper to obtain the loans. 

Here are my questions:

1. Is this a good idea?

2. How would I structure this type of partnership?

3. What would the ramifications of this type of partnership be?

Thank you!