All Forum Posts by: Christine Z.

@Kyle McCorkel when you say portfolio lender, do you mean they only lend on a whole portfolio of properties or would they do, say a single family rental?  That is a great find and would be interested if they would do the same for our single family in the area.  

the "H" was amazing haha

Can't believe you didn't leave the "H" in the shower! Ha!  JK.  Looks amazing- nice work! 

Hey Lauryn,  you can get lists from listsource and Melissa Data as well- hope that helps.  The lists are only as good as the county reporting though, so keep that in mind!  I live in Salt Lake County and the lists are updated frequently, but there are some counties here in Utah where I look at the data and it's about 5 years old, so just be aware of that.  Best of luck!

It truly is different, state to state.  When I was an agent in Tennessee, blinds were considered a fixture and drapes were not.  Of course, people could modify the language to state that they were taking the blinds or wanted the drapes left, etc.  

There was a seller who wanted to take her chandelier because it was an heirloom and I advised her to replace it before we listed her house because it was beautiful and fit perfectly in her entry and I knew any potential buyer would probably want it.  

When I sold my last house, our custom dining table became part of the deal and when we bought our current house, a truck and camper became part of the deal! 

Wish you the best of luck but I would reiterate what many people have said here- get everything in writing and do not sign that disclosure because you will be held to it!  Sorry about your lazy agent.

@Michael B. thanks for starting this thread!  I'm always curious to see where others are and how they've done it- I love listening to the BP podcasts for that reason!  I've personally just gotten into the investing game- we have a rental in Harrisburg, PA that I'd like to sell this year so we can focus on flips and rental properties closer to home.  We flipped our last house while living in it (before babies!), and were planning on flipping our current house but we've realized that we could almost fully cover our mortgage by AirBNBing our basement (we live near 4 popular ski resorts), so we're building a mother-in-law down there.  Realizing that many of our neighbors do this was a huge "aha!" moment for us.  I plan on leveraging the equity we have in our house to purchase our next property.

May I just recommend @Brian Robbins for a spot on the BP podcast?? (where you at @Joshua Dorkin and @Brandon Turner ??)  His "why" resonates so so so much for me.  Sure, I want more freedom and the ability to travel, but I want to be able to give back more than we do currently and I have literal tears reading this Brian!  What an incredible gift you've given all your children! True religion is caring for orphans and widows.

I totally get where you're coming from feeling a little weird about this situation, but based on the facts-- you acted professionally, the property wasn't a good fit for you (and the numbers weren't working for you which is totally FINE even if you were being extra conservative- that's YOUR prerogative).  Then, when you stated you didn't want to purchase it for $91k, your PM said he was going to buy it but he usually only pays 50k for "these types of properties".  Ummmm... some mentor!  If he would only pay 50K for it, he should be advising you of the same.  If he was wholesaling the deal, as @Nicholas Scatton suggests, then he should have been transparent about that (and I agree with Nicholas- I think he was)

Don't be made to feel like you did anything wrong- you just avoided a bad deal! (It might not be a bad deal at the price of $50k though!)  Just because you're a new investor, doesn't mean you can't know your numbers and your market.

Furthermore, I wouldn't necessarily cut ties with this PM, but I would pay close attention to the work he's doing for you- he's shown that he lacks integrity and may take advantage of you in other ways.  Also, you can breezily say/text/email- "sorry this one wasn't a good fit for me, but feel free to send me any other deals you may have- I'm open to more properties in this area".  He may not send you more, but it's ok for you to remind him you're still looking.  Plus, as your PM, he knows the more property you have, the more business he has.  

Congrats!  I hope everything goes smoothly :)

@William Walker about $125k according to a few realtors in the area

That's not a bad idea @Will Jones  Thanks for bringing it up!

We pitched that to them a couple years ago and they weren't into it, but I'll certainly bring it up with them again!

Gotcha.  Thanks @Wayne Brooks

Running through the numbers in my case, it seems like it would be best for an investor to not assume our loan anyway.