All Forum Posts by: Dana Yobst

I have 13 supposed to be turn-key doors out of state and the property manager is doing a very poor job.  they owe me maintenance warranty and move in warranty.  the move in warranty is not in our agreement but I have multiple emails detailing the agreement and how it is paid out.  

there is also clearly maintenance problems that are recurring.  what can i do to recover my money?  the amount is too large to walk away from.  i am prepared to change PM and have done due diligence to find a new one but i don't want to forfeit money owed by leaving my PM.  

Should I consult with a local attorney?  fly there and use my own maintenance people to fix things and look at issues?  I want to get this turned around and i am trying to work with PM as I feel like that will be the least painful way forward.

any advice welcome!  

thanks.

@Andrew Laing  I moved to chapel hill a year and a half ago after 20 years in SF.  we really like there.  there is an active RE investment group here...but like others said, deals are tough to find.

@Nicholas Baughman did you end up taking the e-course?  i'm looking at that one from Scott carson who I saw present recently. 

Hi, i'm new to hard money lending and am considering a deal where I'd loan 150k (gated for land purchase, arch plans, grading, foundation).   Once the bank loan goes through I would be second position which I know is not ideal.  I've tried to make sense of NC foreclosure laws and figure out if I would have a right to pay out the bank in the case of foreclosure but it appears more like the bank would foreclose and if there was enough money, my debt would be repaid. 

Is this a foolish loan?  Could I use other real property not involved in the loan to act as collateral once I move to second position or from the beginning? 

@Stuart Grudgings and @David Fitch i'm also having problems with communications and evictions (2 in one building).  Elite is the only company I've worked with so I don't have anything to compare it to.  Does calling every day get results?  It sounds like it's worth a try. 

dana 

@JR Hinds, I'm having issues on the PM side as well.  Have you explored any other PM companies? 

Hi, we recently moved from CA to Durham.  I own multi-family buildings in Chicago and am very interested in the Durham market.  Are there any investors here I could talk to?  

Hi, I'm a new investor and bought 5 multi-unit buildings this year.  I'm ready to build on that and am investing buying notes or using a RE fund.  I live abroad now and have no W2 or way to evaluate properties myself so I'm thinking that may be a safer bet rather than buying more houses..... not sure. 

I have NO IDEA what I'm doing though and need to learn.  the turn key provider i bought properties from has hard money lending opps but i am not sure what i should look for to make sure i'm not going to get ripped off. 

Thanks!

Thanks for sharing.  I'm from the eastern shore of maryland and thought Baltimore would be a good market.  I no live in latin america though so trying to figure out how to invest more remotely!

I've got a curve ball in insurance on a property that was built 100+ years ago.  I have a number of other properties like it and mostly bought special coverage replacement cost (RC) and one property has broad ACV (actual cash value).  Now my options are limited (for reasons i won't bore you with here) to basic RC or Broad ACV.  Recommendations?  Also, is it difficult/painful to switch insurance once you insure for close?