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All Forum Posts by: Doug Pintarch

Doug Pintarch has started 0 posts and replied 359 times.

Post: Seller only wants a cash offer

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

If I had something for sale right now I would absolutely do whatever I could to start a bidding war, and you can have it inspected by NASA in clean suits and I wouldn't fix a damned thing.  Total sellers market and if you don't like my price please step aside, the guy behind you is waving a check!   I would hope a few buyers got involved in an emotional "I will win at all costs" fight...those are the best!    Capitalism in it's purest form.

You, @Shareef Carey , cannot do that here. (Or anywhere else you are thinking of investing).  Don't get emotional about it, if you have to sit and be patient for a little while longer, do it.    Like @Mindy Jensen said above me, if it won't appraise it ain't a deal.  (For YOU - for a home buyer they may have to slug it out!!)

Post: First post for me.

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

@Jonathan Luna AND @Michael Barnhart  Hopefully the OP is still here, but I strongly doubt it.   One post, 12 years ago? 

Post: Didn't qualify for a loan, how can I still buy my first duplex??

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406
Originally posted by @Ben Zimmerman:

Keep calling around to different lending institutions.  Just because one bank shot you down doesn't mean another bank won't accept your loan package.  Smaller banks and credit unions tend to be much more flexible with underwriting than the big box banks are.  

Never, ever give up after the first rejection.  Otherwise all of us would still be broke and single.

THIS.

If you have literally made one phone call and one application, you haven't even earned the right to think to yourself that you can't get a mortgage.   You need to make phone calls until your elbow hurts.    GO GET YOUR MONEY!

Post: Tenant brought stranger to house

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

Nothing to make of it.  An obviously private conversation is none of your business, and if shes moving out next week and neither one of them had a flamethrower, who cares?

Post: Just starting out and have fear of Flopping

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

NOT as cheesy as it initially appears.   Move forward Matt.  Learn as much as you can and pull the trigger.  And when something blows up you fix it or buy a new one.   

Post: HELOC for down payment

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406
Originally posted by @Brian G.:

@Michael H. I just did this, ie I used my Heloc as a down payment on a recent purchase. Time to find a mortgage broker or a more investor friendly banker, lender, etc.

 This.   Keep making phone calls.  If you have excellent credit it won't take long to find a lender who won't care as long as your numbers are in line.  

Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

@Candace Noel

That would be Hall Manor. Home of the apartments with no front doors.

😮

Post: Bad Reviews come in Batches

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

@Avery Carl  you seem like the nasty type who cares little for children!  MONSTER!

I am still waitng for our first bad review...one STR into it's third year and the second is into it's first summer season. I know it's going to sting when it comes! We try so hard to make everyone feel wanted and welcome and think we go above and beyond, but people are indeed ridiculous at times. You and Luke have the patience of saints with all the properties you have to worry about. I try not to let our 2 keep me up at night.

Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

I live in Harrisburg  and ride my bike through all sections of the city weekly.  Allison Hill is the second worst section of town.  I would not invest in there unless I lived a few miles away and could constantly watch and monitor my property.  I can do both of those things and still don't invest there.   Many opportunities can be found in Harrisburg that are not in the 2 red zones.  We invest in beach rentals and have no desire to be local landlords.

Post: successful RE investors told me to not invest out of state

Doug PintarchPosted
  • Rental Property Investor
  • Harrisburg, PA
  • Posts 369
  • Votes 406

We invest only OOS.  We wanted condos at the beach and there "Ain't no beach in PA"   So we bought in DE where we vacation and are there every week (one of the 4 of us).  We know the market and the developments intimately and manage the units ourselves (Both are Short-term Vacation rentals).  We have a cleaner, a handyman, a plumber / HVAC contractor, a flooring company and local sources for all our necessary supplies.  We met and interviewed every one of them personally and know them by voice now. Would we do the same in an area that's not a 3 hour drive one-way?   Probably, since we've done it now for almost 3 years and it's really not that big and scary anymore.