All Forum Posts by: Doug Pintarch

@Lebert Wilson-Harris This subject always interested the hell out of me, and I wish you were closer to DE because I would have you over to our STR condo and let you have at it! I love shots of buildings and rooms and spaces from angles you normally don't (and sometimes can't, see) spacial relationships just fascinate me, and I've seen some pictures of properties for sale in the realty catalogs at the beach that I just marvel at.

Good Luck man!!

0 Votes

Dallas, Texas

That part always astounded me Jay, even in my earl 20's before I was a homeowner, some folks just can't make the rent/own numbers work in their head. Plus there's that whole "Building equity in a tangible asset" thing that goes with it...

1 Vote

Originally posted by @Jay Hinrichs:

now of course this is major media and all the slants that come with it.. just like media saying that folks are not going to buy houses and they prefer to rent..

now you have the opposite LOL see article for your reading pleasure

https://www.msn.com/en-us/money/realestate/it-turn...

Just like we are headed for a CRASH any minute now the pundits are saying.. we maybe a recession but wont be lead by real estate this time around..

jay I saw this this morning and have already put our STVR up for sale...I'll be buying guns and bullets ad rice and stashing it for the apocalypse!

6 Votes

Originally posted by @Luke Carl:

@Sean Wilt

I call it “Hotel Syndrome” they think they were rating it on a scale of 1-5. If you didn’t have mints on the pillows, slippers, and ducks in a pond in the lobby - you’re a 4.

Just leave a nice response and move on!

Lucas this is a great attitude, and I hope I can remember it the first time I see that "4"! But it isn't a cause to lose sleep over if we've done everything right and corrected any issues the may have had (That they told us about!). Plus the higher amount of ratings we get I'm thinking it may be a slight relief (?) to get that first 4 out of the way so I can stop worrying...

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Originally posted by @John Underwood:

@Sean Wilt I have over 80 reviews on Homeaway. I have two that are 4 stars and they had no derogatory comments.

Like you said some people can't give 5 stars. Maybe they are Teachers and find it hard to give a 100?

John we're at 40 on Homeaway...all 5's so far. Worried about that first one that won't be, and as you echoed...maybe some folks just can't do "5"!

1 Vote

Originally posted by @Maureen Nixon:

Hi all, My name is Maureen and we are in the process of choosing our first out of state rental property. We are focusing on Columbus, Dayton and Detroit. We are open to all but those have been on the top. We are planing a trip for April to see properties and meet managenment companies. We are hoping to do as mush as possible during this trip. I would love to hear your opinions on these locations. Anybody loving or hating these areas? Also any tips for first timers? What you wish you knew:) any advise would be awesome.

Thank you

Maureen, I can't comment on your areas of choice, never been to any of them! As an out-of-state investor (Live in PA and have property in DE), we do our own property management (Short-term Vacation Rental Condo) - HOA does all the outside and pool stuff and we book, stock, and clean it ourselves...so I can't help you there either.

What I can tell you is to write down your questions for the people you'll be meeting. I typed them and left space between for my notes when we were talking to them. Realtors, bankers, handymen, HVAC Contractors, painters, everyone. I treated them like I was Dan Rather and they were on camera. I am an obsessive note taker and didn't want to worry about making out my own chickenscratch on site, hence my typing everything out. Now they are all in my due-diligence notebook so I can refer to them as needed and save for our next property.

Get Going, and Good Luck!!

0 Votes

As an aside, a car dealer I used to work for sold a 17 year old a car, he paid cash for it... just under 20 grand. Came back 3 years later with his attorney and they wrote him a check for about 14 grand after all the fighting was over. Hard expensive lesson.

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Here in PA you can't. You are not of the age of majority and the contract is void without a parent or guardian on it also.

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Originally posted by @Thomas S.:

I would inform him that he is responsible or the rent until you find a replacement tenant. His personal problems are not your problem. Chances are you will likely not hear from him again or receive any additional rent. Keep all his money and look for a new tenant. Once you find one return any excess money from the 6K.

He signed a lease, hold him to it.

THIS. Don't care about your sob stories, your cat stowed away on a flight and is stranded in the Maldives.....whatever. You signed, you pay.

1 Vote

Originally posted by @Ashley Hamilton:

Originally posted by @Account Closed:

Im sure many of us have read all the warnings and reviews of buying low price properties, and the problems typically associated with them, but all that considered, it is what first attracts a lot of people , indeed this is the only path available to some, its a start, so lets explore whats real and possible.........

lets use Detroit, Cleveland, Michigan and Indianapolis as examples where possible ,and set a ceiling of $30k

Personally i dont see the return on higher priced properties attractive enough to invest $80 to $120k plus, and before anyone starts preaching about the pitfalls, ive done this before, over 30 properties over 20 years, just in another country, low cost houses in deprived areas, i know what can go wrong.

The first attraction here is the low cost, funding with personal loans and credit cards etc, is possible, and with high returns , quickly repaid, whereas a large mortgage is on your credit file for years, and has to impact further borrowing, and cannot easily be cleared temporarily in the same way credit cards can, if your credit needs a boost !

How easy is it to get a portfolio of say 3 x $30k properties you own outright (wherever the funds came from !) and then refinance into one loan after 6 months or a year ?........and then repeat this process ?

This is more attainable for a lot of people surely ?

So, anyone with a similar train of thought ?, anyone already doing this ?, any input would help........

Hello, yes I've done this in Detroit for 9 years now and some properties were purchased for $1000. At this point I own 9 properties (10 door) free in clear in Detroit. All occupied, making around $7100 per month. I've already made my initial investment back on almost all the properties and am now seeking a blanket loan on my portfolio. My guess is the total value of the properties as a whole today are $469k. So at 32 years old I owe $469k worth of real estate. But the good news is if the market go up next month or next year I could be worth $600k, then next year maybe $1 million. And i'm confident that the market will go up because it's already hit rock bottom so there's nowhere to go but up from here. Also there's a lot of big investment going on in the city now. I am currently look to purchase a condo in Vegas as well and hopefully moving down there soon. Thanks for you post!!! We need more opened minded people on here that can appeal to the masses without a ton of money.

Ashley...DAMN! Outstanding portfolio!!! Well done, and I hope you triple your doors in the next 10 years girl!! Kudos!

2 Votes

All Forum Posts by: Doug Pintarch

Doug Pintarch has started 0 posts and replied 359 times.

Post: Real Estate Photography

Post: So much for Millenials not buying homes and renting all their lif

Post: So much for Millenials not buying homes and renting all their lif

Post: Thoroughly pleased guest but still left 4 star review :(

Post: Thoroughly pleased guest but still left 4 star review :(

Post: First out of state rental property

Post: Can I sign an Agent Agreement at 17?

Post: Can I sign an Agent Agreement at 17?

Post: Tenant requested to be refunded a day after moving in...

Post: The $30k rental club.......