All Forum Posts by: Andrew Halbert

Originally posted by @Max Nussenbaum:

Andrew,

Max here, Castle's CEO. I'm very sorry for the trouble. I'm surprised to hear you say that we have gone MIA, as you and I have been in direct email communication for the past several days.

We're absolutely not trying to go MIA or take anyone's money. I will follow up regarding the specifics of your message directly over email.

Best,

Max

For the record,

Max has stepped up to make things right. I just wish I didn't have to go to the lengths I went to, in order to get a response. But yes in the last 2 days you have been in constant contact with me and I appreciate that.

For the record,

Max has stepped up to make things right.  I just wish I didn't have to go to the lengths I went to, in order to get a response.  But yes in the last 2 days you have been in constant contact with me and I appreciate that.  

Very simply I have a question and a concern regarding Castle. I don't know how else to get any kind of response. Castle is not responding to my calls, my emails, twitter messages etc..

1. Have you received payment for January's rent? On one of my units, my tenant paid castle on January 1st and I am yet to receive my deposit.  Castle seems to have gone MIA since announcing they are closing

2.  In October I paid castle to register my property with the city of Warren.  They(castle) deposited my check and yesterday I received a citation from the city of Warren notifying me that my property is out of compliance. Castle apparently never filed my paperwork with the city, yet they took my money to do so. 

At this point, I am concerned that I will not get January's rent nor the security deposit that my tenant gave castle upon move-in.  I have already instructed my tenants to not send castle another dime. Alternate rent collection is in place.  

What are my options at this point? Are these guys really going to hold out on people's money?  Not only am potentially out 1800 dollars for january's rent and security deposit, but now I have to go to court and more than likely pay some kind of fine.  Thankfully I have all emails saved and documented regarding the arrangement for Castle to register the property as a rental.  I feel kind of helpless right now.

Thanks Barry,

I wish you guys the best.  Very sorry things didn't work out. Please make sure all your customers have full transparency through this transition.

Just got the email from Max.  Wow this sucks.  Closing the doors 2/9.  

I applaud your honesty OP. Too often it seems like no one ever struggles on BP, also starts to feel like you are the only one having a hard time finding money. I can't tell you how many times I've heard "money is everywhere". When you are new to the game that statement doesn't even make sense. You'll be fine, need to start networking locally. Also need to be willing to take a risk.

Lot's of good advice above. I don't have much more to add except don't make the newbie mistake of letting these people waste your time.  You'll develop a system that works for you, but make sure you are firm, fair and consistent.  

When I went through my first rental, I was very green.  I could not believe how many people lie and don't show up for appointments. Never again!  Pre-screening is your friend. 

Hi Michaela, 

Thanks for the info, however I am not sure how you are classifying your neighborhood. This is most certainly not a "B" neighborhood.  It's not a warzone, but this is in a terrible school district which borders the city of Detroit.  

B class neighborhoods in my opinion should also include good schools. 

I do not "see" a nationwide bubble like we had in 07-08'.  People that think we are going to collapse like that again I think are simply armchair economists and fear mongers.  

That being said, regionally I think things are much much different.  In my personal market, Detroit-Metro, suburbs outside of Detroit, I am seeing huge inventory of houses in certain zipcodes where I typically invest. (B class neighborhoods, B class schools)  Things around here are not like they were in 12-13'. Prices have stabilized.  

In laymen terms, first time home buyers have a lot to choose from right now in my area.  Houses priced at market value are sitting for 60-90+ days.  That certainly isn't terrible, but it's nothing like what I hear about in areas like Denver where houses are gone in a week with dozens of offers. 

@Will McCants

Welcome from a neighbor in Macomb Township! 

I popped my REI cherry last year :) If you want to chat about anything, just hit me up!