All Forum Posts by: Doug Pintarch

Not if you're inquiring about current loan programs and requirements, and how long they have had those programs and the various loan types they prefer, and whether they keep or sell their conforming paper. If you're putting in a full application on a property that's listed just to see if you can get approved there, then "deciding to wait" for a year, then yes, you are utterly and completely wasting their time.

2 Votes

Originally posted by @James Wise:

Originally posted by @Doug Pintarch:

@James Wise And on a semi-related side note...

I saw on YouTube that Mr Morris has changed his RE Investment advice channel to "Morning Invest".

Clever...but just stop it man, really!

Yea basically he's back to doing political news really. Content on the stimulus, COVID and things of that nature. I don't follow it too closely but it looks like he's out of the real estate space for the most part. I could be wrong though? Anyone else have insight into this?

It's funny though, dude can't white wash his past. Take a look at his Wikipedia page one day. He'll never run away from the damage he's done no matter what continent he moves to or what he changes his show name to.

I'll check his Wiki page today, probably an interesting read! I saw his content after I closed my mouth (Jaw dropped when I saw what he did to try to evade notice) and figured he'll stick with current events for a while so new viewers don't really have anything to dig into, then after a while he'll start to mention real estate, then a bit later it will turn into "You folks know, I have some experience in this arena" and he'll reel more fish in. Shame, but it may work.

0 Votes

@James Wise And on a semi-related side note...

I saw on YouTube that Mr Morris has changed his RE Investment advice channel to "Morning Invest".

Clever...but just stop it man, really!

0 Votes

Excellent post as usual, @James Wise Printed and kept, and the bottom half at least should be a sticky in here!

1 Vote

CONGRATS THALIA!!

You should be excited! Well done!

1 Vote

Tabitha,

Keep calling! "two lenders does not a denial make" is a famous quote by some poet somewhere I just made up. If you've got solid income and credit you'll find someone to do it. Keep at it. Use your personal skills to convince them you've thought this through, have the savings ready to cover all the down payment and associated costs, and you've planned out the investment returns and someone will bite.

0 Votes

Originally posted by @Jennifer T.:

A bigger problem might be how extensive is the rehab you need to do? As in, is it so extensive that people really couldn't be living there while it's going on? If that's the case, you might need to give them a Notice to Vacate anyway. If that is the route you want to take, whether for rehab purposes and/or the way below market rent, it would be a kindness to offer them one or more of the following: longer time to move, assistance with moving expenses, and/or financial resources available for senior citizens.

And I'll be the mean person who says it, "No one is owed a low cost place to stay because they didn't plan properly for their retirement." I am sympathetic to people in that situation. It's a tragedy that personal finance classes are largely not taught in school and many Americans are under the delusion Social Security is enough to live on. It's an erosion of our economy that overall wages have not kept pace with the cost of living, much less having extra room for retirement planning. But none of this is your fault or my fault. I'm running a business, not a charity, and my sympathy ends at my wallet. I'm not selling my services, ie my rentals, at a substantial discount in order to subsidize a stranger's lifestyle, just because they're elderly.

This. I don't care how old you are or aren't. You'll be treated the same by me as long as you pay me. It's not all about the money...but it is. I have empathy but no sympathy. I prepared, you should have too. Longer move time would be the option I would offer, or you can stay if you can get to the market rent in your budget. If that's not possible, I'm sorry, but you've got to go.

1 Vote

We do the vacationers here, @Paul Sandhu, I know your clientele from your posts...my favorite quote of yours is "Think Hugh Hefners bedroom"!!

1 Vote

Originally posted by @Paul Sandhu:

I can't believe you pay 600k for a house. I paid 38k total for the last 4 houses I bought. All were 3 BR, CH/A and needed about $1k of repairs each.

Yeah, that's a shot! Our 2 condos at the beach (AT, not ON) in DE were combined over 100 K less than that. Location, Location, location!!!

Our monthly numbers are obviously different than yours, so I won't itemize individually, but several folks above me have chimed in with some essentials for your CapEx fund!

Best of Luck!

0 Votes

We did LVP, both are over concrete. Can't speak for the "Over wood foundation" issue but I will say every other condo we ever buy will get LVP immediately or replaced with LVP as soon as economically practical.

8 Votes

All Forum Posts by: Doug Pintarch

Doug Pintarch has started 0 posts and replied 359 times.

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