All Forum Posts by: Amir Navabpour

I would certainly stay away.  I haven't been paid a substantial principal/interest payment in months, and most of my loans are either way late on payment, and one is in default.  When I first started investing it was clear when my interest payments were coming, but for the last several months the payments are mixed in and its not clear.  I always assumed that since PS had lower interest rate payments than other platforms that they did more due diligence (and their claims of not having any defaults).  Not finding that to be the case.  I diversity with only putting 5k in per note, but even if only one defaults, when you adjust your return its pathetically low compared to what you can get elsewhere. 

Hi Everyone

Does anyone have any recommendations for PM's in Rochester? The one I am using has had 1. poor communication, 2. not timely on payments, 3. not transparent on costs for repairs. I own a few properties and prefer the smaller PM's where you have 1 point of contact vs the larger ones that are siloed which tends to lead to passing the buck, and miscommunication. Best, Amir

@Steve O'Keefe  When your loans when into default, did Peerstreet communicate with you via email (regarding the originator repurchasing the loan, etc).  I have some loans that are late, however I noticed in the past most of the borrowers eventually pay them off even when late.  

I have money invested in both (investing in notes for slices of their loans). Previously, I noticed alot of discontent among posters on BP about patch of land, but I haven't had any problems (granted I only have one note), and Patch of land has lower LTV's and higher rates than Peerstreet. Wondering, among recent investors in Patch of land, what has been your experience?

Does anyone have a recommendation for any good mortgage brokers in Kansas City? 

Thanks everyone. I guess what I'm getting at is how do I compare a peppery through a turnkey vs finding one on my own such that it's apples to apples? If I see a property from a turnkey that has all new capex (new Roof, new water heater, etc) and I run the same or similar capex to a property I found on my own that requires work it isn't apples to apples. I should add that I'm buying properties out of state so it's hard for me to now exactly what I'm walking into in the form of rehab costs if I don't go the turnkey route

Several of the markets I'm looking at investing in get Tornados and I'm wondering if 1. the standard homeowners insurance one would purchase cover that?  If not 2. How much extra do they charge?  For example, where I live in California, the standard Homeowners insurance does NOT cover earthquakes, but because it is so expensive, most people do not buy coverage.  For people living in the midwest what's your advice?

Anyone have experience working with them?  If so, thoughts?

If you have never met your tenant, how would you know if the PM wasn't treating the tenant well.  My property is out of state so I don't know of any problems unless the PM tells me and so far haven't heard anything.  Wondering how many ensure that the PM is taking care of their property well and responsive to good tenants when the owner is a "passive owner" and not living in the area of the rental.  

All I can tell you is they are hard to find here.