All Forum Posts by: Chris Wood

Take people out to lunch (successful people). Often times they will give you good words of wisdom. And let the trial and error begin. Often times they will be able to help you and you might be able to help them. Great way to network, along with connecting with people on this site. Good luck!

@Anthony Dooley When u contacted the owner who hadn't paid in 40 months was that within last 6 months? I am just curious because from what I know of short sales, the banks seems to be more difficult to deal with. But maybe that changes due to locations. Would love more info, thanks!

@Ben Elliott Since you are in the Terre Haute Area could you tell me what you know about Newport? It is just north of there. Or Does anyone know anything about this little town? thanks

@Bryan Wallace  Can u do all this prior to buying the property to get an idea of costs. Or is this something that has to be done after you have purchased the property in Indiana. thx

@Matt B. Buckels could you send me the p and L for last 2 years as well as operating expenses, repairs and maintenance things as well? 

thanks!

Chris

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@Anthony Snyder send me a message. lets get a cup of coffee. thanks

Hello everyone reaching out to biggerpockets community. Would like some wisdom from someone who is managing property there and some insight to what the market looks like. Thanks!

I bought a condo long ago, and the HOA was in good standing. Then the CPA running it was retiring and stepping down (oh and he was selling his condo). Not that those where all factors but it seems to me that HOA's are often mismanaged by the wrong people. Along with headaches about how many can be rented. Not saying that a condo is a good or bad idea. Just beware, also if things aren't selling I would be a little nervous as well. Just my 2 cents.

Did you have a deposit when u bought the property? U can always go after them for damages once they move out. Have gone thru this a couple times already this year. It stinks and collection is going to be a headache. But as long as they have a w-2 you will more than likely be able to collect. The chances of you collecting if they don't have a w-2 job is not very good.  There is more to this, but another thing I would encourage u do is ask some others for a local attorney that they trust. It might cost some money but attorneys fees go on top of the amount.

I use to own a unit in sandpiper. What do u want to know? It might be better to call me. I will send u phone number