All Forum Posts by: Arron Paulino

 These properties are located in Memphis, TN.

 In your opinion, do you think we are in a buyer's market or seller's market right now?

 I appreciate your reply.

1. I ended up in this situation after doing the BRRRR multiple times and then realizing that I needed to be more liquid and may have overextended myself in the process. I did start investing with the intention of building my rental portfolio, but I started to see that overall I was not cashflowing as best as I could. I am essentially looking to start over and with more caution in getting better investments. How do you suggest I proceed?

2. I think I do and don't get what you mean. How can I maximize what I currently have in my portfolio to get the most out of it? I do owe a monthly mortgage payment on a couple of them and have one that is free and clear. Only one of them was BRRRR with a lower interest rate and cashflow positive. Should I look at these properties as if I were the buyer?

3. My reasoning for selling these properties is to move on to better opportunities and locations. At first, it did look good on paper when I ran the numbers, but now owning them for a couple of years it didn't pan out how I imagined. Definitely a learning experience and something I want to let other investors know what to do and not to do. 

These properties are in the neither and in the mid-South region of the country.

Thanks for the suggestion. Do you have experience using this security system and why do you recommend them?

I am learning that is the case when selling properties. I need help on wording it to the buyer on having these either sold as-is or including them at closing. The caveat is also learning how to deal with appraisal contingencies when dealer with a lender that asks for this in their appraisal when the buyer is using a loan to close the deal.

This is why I am trying to get out and move elsewhere in my real estate journey.

 Unfortunately, this is not in California and is remote.

 These out-of-state properties are located in Memphis, TN, for me.

The reinstallation happened due to me being under contract and needing to meet an appraisal contingency. After all that work, the buyer ended up backing out, so it was a real hassle for me to put the work in and not getting anything out of it.

Any suggestion on what to do rather than board up the properties in the meantime?

That's why I am hesitant about installing security into the property since it'll be an added expense to upkeep.

Any advice is much appreciated on how to proceed!

 Thanks for the reply. These are actually out-of-state properties. I have thought about installing a security alarm and cameras, but not sure how to manage this from afar. Any input?

I have vacant properties that have been a struggle to upkeep while they are on the market either to be rented out or sold, whichever comes first. One property had its water heater stolen not once but twice as well as the furnace in the second attempt. Another property continually has squatters even with boards up and bars in front of the windows and doors. Police reports have been made, but I fear that it has been a consistent battle to deal with, especially with investing out-of-state. Property management has been aware of the situation but can only do so much even with constantly redoing what is being removed and repaired. I know it has been costly to replace/repair the damage done especially with the property being vacant and a monthly mortgage payment due as well without any rental income coming in.

Any advice is greatly appreciated. Would love to hear from investors that have been in this type of situation and what has been successful for you in terms of keeping them out and being able to still sell the property and/or rent it out.

I am currently liquidating my portfolio, which formerly held my rentals. I was able to package three of them in one deal, which ended up breaking even/not profitable (A little bummed on this one since I think the buyer (an investor) won the better side of the deal in terms of gaining equity on the houses). I have four more that I need to liquidate with a goal of having them all sold by the end of this year. They have been on the market for about three months now and I am working with my realtor to get them sold sooner.

The remaining properties have loans on them with one being free and clear and vacant, two being vacant with mortgages, and one is currently rented with a monthly mortgage payment due. I am trying to see if it makes financial and/or market sense to rehab them and possibly rent them out or just leave them as-is. I am leaning towards as-is due to the lack of funds in my current situation. Once sold, my goal is to have these mortgages paid off from the BRRRR method that I did and move on to different investing opportunities. At first, I wanted to just save it to build up enough investment funds to move to my next deal, but open to suggestions.

Any advice on steps to take to move in the right direction if you were in my position is greatly appreciated. Would like to hear from any investors that have been in this type of situation.

 This guy really needs to be put away!