All Forum Posts by: Dave Fridley

@Scott M.- that’s just an example of searching. If you have verified residences of their past (let’s say 10 years) I’ll check the state or county public court case search. A national search has broughtback so many false positives… it’s been way too time consuming for me when I’ve been successful keeping my own strategy without doing national searches. 

@Di Ye- Typically your state has a public court search website. For example in Indiana we have mycase.in.gov. depending on where the history of the person was... is the state of public court system you need to search. Watch out for all the pay websites that will "search for you"... I have learned this lesson before and avoid them. 

It appears that CA does it by county. For example you're looking for someone who lived in San Jose, look in Santa Clara county's public case search here... https://www.scscourt.org

It takes some looking and clicking around, but once you have the right site, you're good to go. Look for civil cases and see if there are any evictions filed under small claims court (that's at least how they are filed here in IN).

@Di Ye Whatever you do and whatever your method of screening... you must remain consistent! If you apply one standard for one applicant and another standard later down the road, you can find yourself in some nasty situations legally. 

I am a believer that people's past is a predictor of the future. I've been doing this since '05 and I've only evicted two people in our small 12 unit portfolio since then. Credit is a funny predictor and I personally choose not to run credit. It costs money and I can get public records for free that I deem more reliable than the credit bureaus. 

Stay Consistent.

@Nathan Leger - Optimism can get you mentally prepared. Action and followed up my mistakes will actually get you where you want to be. Money and experience are the key pieces and surrounding yourself with experienced professionals. There is no shortage of those exact people on this website, or probably even on this forum thread. The best advice I ever received was..."Don't get into to any investment without knowing a lot about it". 

You got this!

I tried downloading the BP app for my iPhone 12pro and the App Store said that the app is no longer available. Any one else having issues with the BP app on iOS 15?

Investment Info:

Single-family residence buy & hold investment in Fort Wayne.

Purchase price: $22,000
Cash invested: $5,000

Bought and made simple repairs to cash flowing property.

What made you interested in investing in this type of deal?

Long term holding and cashflow

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Cash

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Check out Jackie McBride in Ft Wayne IN. She is an A player

@Jonathan Jordan take a serious look into Zoho Books. Very similar to QBO, just more affordable. I like it and have been using for past 3 years. The only down side is that the COGS report is not available and have to export numbers into excel to get my COFS report to my CPA Once a year.

Investment Info:

Single-family residence buy & hold investment in Fort Wayne.

Purchase price: $18,000
Cash invested: $18,000

July 2014....

cute 3 bd 1 ba with w/d hookups, bad roof, newer furnace, solid bones

Rents for 7152/yr or 596/mo

@Patrick Reagan - leverage is on your side on this one. Do you have questions about financing the deal or putting leverage on your side with the seller?

@Cherri Huang - I am a commercial business advisor and have access to a couple of lenders that offer blanket loans that fit your scenario. I'd love to learn more about the scenario to see if its a fit.