All Forum Posts by: Chinmay J.

And what's so wrong w/ sounding like a millennial if you are one. I am not one BTW. A bit older than that.. And you know what the new generation hates. This "get off my lawn" attitude.

3 Votes

Originally posted by @Nick C.:

Yes, shadiness is a common practice of wholesalers. In this situation it sounds like the wholesaler is either super lazy or doing this remotely, and is convincing the owner to leave the door unlocked.

I hear ya ! The guy seems legit.I get 2 to 3 emails from him every month. So looks like he is doing business. I guess he just didn't want to drive up. Maybe the market is such that he can find the buyer w/o having to work hard at all. I just don't have appetite or risk tolerance for doing either (buy unseen or essentially trespass)

0 Votes

Originally posted by @Joe Splitrock:

I hope they don't shoot you for trespassing.

So I had more back and forth w/ the guy since I posted this. I asked him if he is willing to send me a document to sign that I am being let in the property, and he meet me there personally, and all he kept saying was that someone from his company will have the door opened for me..

I wished him good luck, and passed on.

1 Vote

I got email this AM for a wholesale deal The deal looks great, and pictures indicate that repairs are cosmetic. Around $20-25K for a big house. Not bad.

But here is the problem. The guy won't send me original contract. I told him to redact the price and any commission info. I don't care for what his cut is.

Also, he said tomorrow I can go see the property as it's vacant, but to just go in a jiggle the door. I told him I am not comfortable doing so to which he said the owner is going to open it for me. Not sure if the owner is going to open and just leave before I get there or actually meet me.

For those who have dealt w/ wholesalers, is this common... Sounds shady to me. I usually don't deal with wholesalers.

0 Votes

Trying to bring up this old thread. I came across FundRise. What is the process of getting the money out. Any recent experiences?

0 Votes

I would love to come, but recent COVID cases has given me a pause..

Any chance this can be moved a Zoom meeting ?

1 Vote

Originally posted by @Ryan Cleary:

Just got a bid presented to me by my property manager from a contractor of $14k for tenant turnover, incoming rent for the unit is $800... I know the unit well and it's not in bad shape. Some of the items are totally unnecessary. They have a bid for painting the walls which they are asking $3,300, on top of that they are asking another $400 to repair walls and remove an led light strip. Is this the going rate right now? This will be my first turnover in Ohio.

This is how the PMs make money. This is why long distance investing is so risky if you have a shady PM. Like others have suggested, make some phone calls and get your own guy to go in and give you a bid.

Here is how most PMs play the game. If you get a bid for say $10000 then the PM might say, you are on your own buddy for this turnover. He can't vouch for this guy because he didn't find him. He is not his guy. Then you are left managing your tenant turnover on your own from NY, which can be difficult. Remember PM is not really managing your property. He is running his own business.

2 Votes

Originally posted by @Joe S.:

Who paints their entire inside of their house the same color? We have been painting most of the inside of our houses two color coordination. I am considering doing a light cream of some kind for ceilings walls baseboards etc. The thought is once we mask it off we can make some serious headway with a paint sprayer. These are not flips these are properties we are going to keep in our rental for folio. Who all uses one color and what is the color you recommend?

Boring people who order Broccoli and Chicken when they go to Chinese restaurant. LOL

0 Votes

Originally posted by @Kevin Hart:

@Rob Bergeron not a fan of the news. Its going to take away from the mystique of going to Publix while on vacation

Funny you say that.. I had to stop by Publix on my recent trip to Fort Lauderdale.

0 Votes

Louisville, Kentucky

Originally posted by @Zachary Jensen:

I'm just about to close on my first rental property (house-hacking a duplex in a small town outside of San Diego, CA). The previous Landlord raised rents 3-5% every year on this property, so it is currently rented for market rent to some great tenants who have taken good care of the place. My wife is a wonderful person and very generous. As a result, she doesn't want to continue increasing the rents on a yearly basis. I could really use some help making the case for the importance of yearly rent increases. I understand that property taxes increase on a yearly basis and that any maintenance costs also go up on a yearly basis. What are some of the other reasons for maintaining regular annual rent increases?

You definitely married a smarter woman. Always good to marry up ! That's why I am still single.. LMAO..

I don't raise rents either.. I have so far raised rents only once in last 5 yrs on 1 tenant who is Section 8 tenant. Most of the rent increase was absorbed by the county. So essentially the tax payers footed the bill.. I footed the bill.

0 Votes

All Forum Posts by: Chinmay J.

Chinmay J. has started 50 posts and replied 1178 times.

Post: Airbnb Rentals Ideas

Post: Shady wholesaler or common practice..

Post: Shady wholesaler or common practice..

Post: Shady wholesaler or common practice..

Post: Fundrise?

Post: Northern VA Meetups and Investing Tools

Post: $3,300 to paint 1,500 sqft? (Ohio)

Post: Who paints their entire inside of their house the same color?

Post: Publix service announcement:Grocery chain is coming to Louisville

Post: Wife doesn't want to increase rents