All Forum Posts by: Dave DeMarco

@Doug Wade Agreed. I have 2 properties with them. They handled rehab on both, although I didn't own them at the time. That being said I wouldn't trust them to handle a turnover. I base this on city inspections that I needed done on a 3rd property I had with them that were plagued by delays including multiple no shows. Also took 5 months to rent a rehabbed property (an ABSOLUTE ROI KILLER). Nothing happened until I got involved with advertising and applied some pressure. Once that happened the property was rented relatively quickly.

It should be stated that I am still with IIP, have had experience with multiple PM’s in different markets and that I do understand the challenges for property management companies. I give A LOT of leeway to them. It should also be stated that they have also done some positive things in caring for my properties that are reasonable and smart. 

I will leave my current properties in Cleveland with them in light of staff changes that have been made, but new purchases will be placed with a different company so that I have some competition and a gauge of performance. 

I would go with another company if I had to do it again.

Understood Craig. Not trying to sell you or anyone else. The tech surrounding the blockchain and its uses are pretty interesting and useful on many levels.

At $10500 per coin right now I’d say it has value...

With the adoption rate currently underway (available through Fidelity, Bitcoin ATM’s around now, currently being purchased by institutions that include state pension funds etc) i would say the mainstream has caught on to the value of blockchain technology.

Incorrect.

There are approximately 21,000,000 Bitcoin. Most have been bought or lost. Once the remaining Bitcoin are mined, that’s it. There will be no more. It’s NOT like the US dollar that can keep being printed again and again. Not exactly like gold in that you may be able to dig deeper to find more. 

Limited supply of an extremely useful technology = DEMAND.

Brian

Bought with money I set aside for investing in dividend stocks every 2 weeks. Just like anything else I looked into it, like you would a stock or an income property, and made a decision from there. My timing happened to be great. Investing with credit cards is crazy IMO. Sounds like your friends didn’t do their due diligence...

Not to pick on you Craig but an "investor" should be riding this bull market to some ABSOLUTELY RIDICULOUS PROFITS. ;)

My ROI so far is 52.5%. It has CRUSHED my dividend portfolio. Started buying at $3700 near the bottom through shear dumb luck. Been taking profits along the way and will do so until the trend ends. I plan to pull my principle investment sometime soon and keep a balance of it. If any of you are traders (day or swing) you have missed a wet dream.

I would highly suggest looking into the technology and at least making an attempt to understand it. This technology is very interesting IMO. 

@Al D.  2 properties in Memphis here. So let me get this straight - you had a vacancy and your PM never cleaned the unit? He's showing it when there is garbage in the unit, it smells, and the previous tenants crap is there....FOR 4 MONTHS? My PM in Memphis renovated a town house in 3 weeks! You talk to him and he tells you that in his vast experience it's never stopped people from renting in a timely way? 4 months isn't timely...THIS PM IS KILLING YOU. 

-You have lost a MINIMUM of 6 MONTHS RENT and probably more by the time you get this unit cleaned, find a new PM and find a renter. That's $4500-$4900 in my Memphis C-class units  PLUS the cost of the turnover and fees for a new PM. So $8400 and counting....

-You are attracting the bottom of the barrel renter when/if someone decides to rent a smelly, garbage filled house/apt. C'mon man these properties are risky enough already in Memphis.

FIRE THIS PM IMMEDIATELY and try to salvage the second half of the years rents. 

@Nathaniel Smith Use the Turo app to rent the car. Super cheap and some people will bring the car to you.