All Forum Posts by: Dana Tenebruso

Happy New Year All, 

Anyone have any suggestions on how to determine what properties I should start with when intending to pay off mortgages? I have units that I hold mortgages on that pretty much all cash flow.  I'd like to start thinking about paying them off to free up more spending but also to increase my monthly cash flow.  Any professional advice? 

@Mike McCarthy this unit is in a B-/C+ area. Typically lower middle class tenants. 

@Julie Hartman and @Christopher B. I've started to separate as you indicated...student loan and medical debt. I've also taken into account "joint accounts" since I know what could happen. "I co-signed to help a friend/partner/family member and they screwed me". Even still the whole picture that Im seeing in these past few candidates have indicated a mixture of that and what i consider fiscal irresponsibility.

I think I should just hang tight for a better match. Thank you all for your insight!

@Christopher B.

Need some advice...Im renting a condo unit and have gotten lots of interest but seems like every time I run a credit screening Im seeing very low scores (with substantial old debt). Im starting to think Im being too harsh with rejections based on this. What are you all looking for when credit screening your tenants? (assume they make just enough to meet the income requirements...income 3x monthly rent).  

I haven't encountered this in the past as much and don't want to turn away potentially good tenants but wondering if I need to shift my standards in this post pandemic life or stand tight and just wait for more qualified potential. (Just for sake of numbers - I've run 9 candidates and have turned down 9 for pretty much the same reason).

Hi @Shiloh Lundahl, thank you for sharing not only your goal setting but also your year in review.  I am a newer investor with a few deals independently but I've recently went into a partnership with 2 other investors and we've had a bit of a stall since setting up.  I see you are looking to invest in the triad area which is where Im currently living and trying to grow.  Part of my 2021 goal set is to connect and network more, not only with newbies but also with more experienced folks who are willing to share.  I wonder if you would be willing to connect and share your story with hopes of adding some more inspiration to mine.  And who knows???....maybe we can one day make a deal in the Triad of some sort. 

thanks, 

Dana

@Craig Fitzpatrick II, Im an investor in the greensboro area and am pretty well versed in the "numbers" here.  Let me know if you need any assistance in running your numbers on these properties.  I definitely don't mind sharing some insights that could potentially help you make your decisions. Good luck!

Hi, I have recently put an offer to purchase on an "on-market" deal for an investment property to add to my portfolio.  After doing some research I realized the Seller has a few other investment properties. If my inclination is right, she may be looking to sell more of her remaining properties and I think it could be an opportunity for both of us to have positive returns by dealing with these other units off-market. I'm wondering if it would be unethical of me to reach out directly to her to discuss the potential to purchase more of her portfolio. We have 2 agents involved in this current purchase so not expecting any change there but wondering if there may be a boundary being crossed if I reach out directly while we are still in this negotiation/due diligence phase. Id appreciate any expert advice as well as personal advise or thoughts!

Hi, I am in the process of starting up a local RE Investment Company with a couple of partners and am in search of an attorney in North Carolina to help guide us through an LLC set up and Operating Agreement process. Please let me know if you work with someone you recommend or if you are an NC licensed Attorney who could help us out. We are looking to begin immediately. Thanks in advance.

@Mike Shemp thanks!

@Zach Stroud Thanks! Amazing info...

@Basit Siddiqi Thank you!