All Forum Posts by: Benion Horton

@Chris T. Unfortunately not able to make it tonight. Hopefully the next one.

I would like to see a Bigger Pockets group. Would be happy to attend. Not really fond of the established REIA locally.

Joe Pate at Pate Appraisals was very prompt and friendly and seemed fair in his inspection of my duplex, discussing things with me afterwards that could affect valuation.

Hi @Mindy Jensen. Why are the webinar links only active for 48 hours after it ends? Would it be possible to have them available indefinitely such as a podcast recording so we can listen in when able? I missed this one - was really interested in it but now can't listen to it. BTW, I never received a link to listen later even though I had signed up...

I did a double close in February. Was not a big issue.

Hi Chris- I can never figure out how to direct message someone in the app. If you decide to sell the multiplex, I would like to get more information and run the numbers to see if it would make sense for me to buy it from you. I currently have a duplex, SFR, and commercial rental and looking to expand my portfolio to multiplexes. Would like to hear more about where this is located and what price you are considering to list it. You can contact me directly - ben(at)drinvestmentpartners.com. Thanks!

I spoke to one parent. The foreclosure proceedings were stated as a result of divorce and ex not paying the mortgage. It appears that she has made recent payments based on the credit report and she reports that she is working it out with the bank to stay in the house. I feel like this is not an unusual situation and could be acceptable even though it has damaged her credit score. Thoughts?

OK, I have a 4 bedroom property near a university campus. Most of the interest has been from students. I have a group of students who will be Juniors, potentially wanting to stay until graduation (24 months). I have met them all when giving the tour, and they seem like a good group of kids. We have had good communication since the tour in trying to work out the details of the application process.

None of them meet the income requirements, and although they all have part time jobs, they are not making 3 times their portion of the monthly rent. The do receive student loans, some of which can be used for housing. We decided to have a parent apply as cosigner for each, in order to allow them to qualify. One parent has an excellent background check and credit score, allowing me to approve that application. The parents of two of the other applicants have poor credit and appear to have some accounts that went into default. I am seeking additional clarification on this as I write this.

I am trying to figure out what my next step is in this situation. The lease is going to be set up as a shared agreement so if any one tenant does not pay it is the responsibility of all the tenants to make the rent payment. So if two parents have excellent credit and enough income to qualify the entire rental, should I move forward? Are there other alternatives to making this work that I am not seeing?

Thanks for your insight.

Hi Daniel – It is very difficult to grab multiplexes in Charlotte with any type of financing. I think all cash deals are the only things that are being successful. You might have better luck in Huntersville and Cornelius, I have not really focused in those particular areas. I was able to grab a duplex in an off market deal that I am house hacking with a conventional mortgage. It is located in Myers Park, adjacent to the South Park area. All my attempts to get anything larger on the MLS have been met with bidding wars and my highest and best offer was not good enough. I’d be happy to meet with you when you’re down here visiting.

In response to my listing on Craigslist, I got the following email. It sounds like an interesting concept. Has anyone else had experience with this?

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Noticed your rental and it looks great. My company currently manages over 30 Airbnb listings in town and we have amassed over 1100 5-star reviews achieving Superhost status on the platform. We were actually just featured by the Charlotte Agenda in an article and on StartCharlotte.

Reaching out to you to see if you would be interested in renting your space out to us and allowing us to in return list the property on Airbnb & other short-term rental sites. I understand that this is somewhat different than the traditional setup you are looking for but we are willing to pay a premium (additional 10%) on the monthly rent.

This is relatively low risk for you, our company would handle everything and would insure the property for damage and you would simply be responsible for the typical landlord obligations as you would with a normal long-term renter.

Alternatively, we have another model where you could participate in the upside if you are interested.

Happy to discuss this in more detail if it is appealing to you.

Best,

Emir Dukic
CEO

Rabbu, LLC

www.rabbu.com/