All Forum Posts by: Alan Grobmeier

@Paul Doherty, ALL of my rental are financed with conventional loans, not Fanny or Freddie. It looks like I’m screwed if this thing goes longer than I have cash/income. :-(

0 Votes

Tom, the govt will make sure the tenants are ok. After all, they don’t want them on the streets. We, the landlords, are literally on our own. Sad but true.

Originally posted by @Account Closed:

I guess that the thing. Some of us have a good backing of reserves and some probably are worried about making ends meet this month. I would hate to have to give up equity or take on a new loan to weather this storm and I hope very few of us have to.

I believe the difference here and with many businesses is that are (or will be) put in a situation where the government will be saying we have to stay open (ie keep renting) and have few weapons to insure we get paid (ie no ability to evict even the worst tenant). Nobody want's to evict tenants (good ones) but there should be a plan to assist us in keeping these people adequately sheltered.

Life is still good, I say this because I have money in the bank, food in the pantry and a job. In 3 months one of those situations may be different and in six months 2 may be different. If this goes a year, all three of my gifts may be gone.

0 Votes

Does anyone have an email they wrote that they would be willing to post? Thx, AG

0 Votes

@James Wise, time for a counter suit? Can you sue someone for being an idiot? Lol

1 Vote

@Jim K., that’s what you do when you don’t have a new gig. Just make the other gig a longer duration. Besides, she’s psychic. She already knows her next gig. ;-)

1 Vote

@Andre P., you realize we are probably at the TOP of the RE cycle? Be cautious and don't over leverage if/when you buy.

1 Vote

@Mo Muigai, I use experianonline.com for my credit background checks. The applicant pays for that check, about $40 each, so I do NOT charge an application fee. Besides, I want as many ppl as possible applying and then pick the best candidate. I get a complete credit/background check that is usually about 5-6 pages long. I just 'connect the dots'. If they connect, great. If not, you're out. ;-)

0 Votes

@Jonathan Yeh, I recently attempted to buy a new build in a subdivision as an investor. It did not go well (ie I didn't do it). What I found was that the company I was buying from REQUIRED upgrades of a certain percentage and didn't allow me to just go 'basic' across the board. In addition, my business model, 100% tile floors, was an extremely expensive upgrade. Far beyond what I would pay if I took a standard floorplan and then demo'd it myself.

I probably won't be looking for new builds in the future due to my experience. It's a great idea from maintenance, but that is about where the buck starts & stops.

1 Vote

Owner carry property? I’d give that a try. ;-)

3 Votes

All Forum Posts by: Alan Grobmeier

Alan Grobmeier has started 19 posts and replied 900 times.

Post: Clayton Morris Loses $7.2 Million Lawsuit against HoltonWiseTV

Post: Coronavirus and late or no rent payments

Post: Coronavirus and late or no rent payments

Post: Coronavirus and late or no rent payments

Post: Clayton Morris Loses $7.2 Million Lawsuit against HoltonWiseTV

Post: Clayton Morris / Morris Invest House of Cards starting to fall.

Post: Wholesailing real estate.

Post: Frustrated screening first tenants

Post: New Build for Rental?

Post: I have 10k to invest, Cant get a mortgage! What would you do?