All Forum Posts by: Bryan O.

@Angelo Van the 1% rule of thumb is slanted toward US investing because in every state you can expect the same interest rates and loan amortization for the "standard" investor. For a foreign investor where there are completely different terms you would be better served using the 50% rule to help evaluate (which may also not apply because of taxes, management fees, etc.). Basically, convert to using payment rules of thumb rather than purchase price.

@Jen Coe I agree with the previous post. What is a "snap flip"? Is that wholesaling? Doing super-small stuff like replacing carpet/paint and selling? Sounds kind of like a guru term to try and differentiate them from everyone else preaching the same thing...

Hi @Michael Pease. I have a number of problems with them. I have managed my own local properties for years, and if you combine all of their service calls it still wouldn't add up to this 1 property:

1) Likely fraudulent charges

2) No photos provided for nearly any work. Where photos are provided, they are not with GPS tagging enabled so I can never validate if it is actually my property

3) Poor communication

4) Most services are in-house, so even if the work is not legitimate, they own the handymen that write the invoices to make it look legit

Thanks for posting. I will reach out to you.

As interest rates rise markets cool (some of them), though not necessarily the markets I am in. If we enter a new recession, this can impact the values fairly dramatically. On one hand, rising interest rates are good because that loan is more important for the borrower to get back into performing because a new loan later will be much more expensive for the same principal. On the other hand, if property values drop there is less incentive to pay something that isn't worth as much.

Are you doing anything different with the expectation of changes in the environment? Adjusting % of UPB you are willing to pay, etc.?

@Patrick Liska are your rentals short term? Maybe a Park'n'Ride in the lot so you can try and drive overnight guests on their way to early flights or after arriving late?

@Steve Vaughan not being a skier myself, when I saw you say "take a look when I get done chopping up some new powder" I started to wonder if something was wrong  ;)

haha!

@Daniel Pierson there are ways to do it legally. You can search BP for various answers. An RE attorney, canned state forms, and title company are the best places to start with.

@Christian Benitez it wounds like the basement is finished with kitchen... is there a walk out to it? You could turn that into a long or short term rental to add to your income, which will help you build cash and prove income to make you more stable for lending. Also, you can look at commercial financing rather than standard financing for mortgages. They have far more flexibility in lending and the property itself is the first criteria. After that, they look at your credentials, but relationship is more important here than paperwork. You may be able to offset your lack of paper credibility with additional rental income and personality.

And it doesn't have to just be a company that does it. I like individuals as well, so long as they aren't overburdened with too much other stuff.

Hi All, I have a SFR in Davenport and the management company has been slipping. I think it is time to move on. Does anyone know of a reputable management company in the area?