All Forum Posts by: Dean Suzuki

Hi,

Does anyone have an attorney referral in San Antonio?  

I haven't received my August and September payments from ATW.  I am not sure why it takes so long to process the mortgage/rent payments and disburse them.  They also have charged me for my expenses that happened over 6-8 months ago.  

Is anyone else experiencing this?

Does anyone know if there is a statue of limitations on how far back a vendor can charge you for expenses on a property?

Thanks

Hi,

I purchased 3 investment properties from ATW.  Overall, I have had challenges on my investments with them.    If you want to message me directly, we can discuss.

Thanks

Dean

Thanks all for the responses.  I'll reach out to Note Servicing Center.

Hi, 

I am not sure if this is the correct forum to post this in, but please let me know.

I have a couple Real Estate Notes and am looking to new note servicing company because of problems with my existing servicer.  Does anyone have any recommendations?  Also, any guides on things to look for and how to evaluate a note servicing company?

Thanks,

Dean

Thanks all for the feedback.  It turns out that the teenager is underage and thus the father's auto insurance is not going to cover it since the teenager wasn't on the policy.   The father is being belligerent now but the wife seems more willing to work with us.  Interesting situation.  So, we seeing if we can work out a settlement without having to go to court or something.

I got a contractor to come out and the cost to repair and repaint the garage is around $1000.   The teen took out a Palm tree (which saved my house) before hitting the garage door.  The tree saved my house since the car would have gone into the house .   I'm wondering if I should add to the bill, the cost of removing and planting a new Palm tree (or a concrete bollard).

Any further suggestions.

Thanks,

Dean

Hi, I got a call from my property manager today along with a picture of my garage door smashed in.  Apparently the police were pursuing a teenager on a high speed chase which ended up with the teenager's car running over a palm tree in my yard and into my rental's garage door.  I'm waiting to get the police report.   I'm not sure what to do.

I was thinking of calling my insurance company but I am thinking that the cost to repair might be below my deductible.  Also, I don't want to make a claim on my insurance.  I am also wondering if the teenager had any insurance or if he stole the car.

I am curious if anyone has ran into this situation or has any advice.  Luckily, no one was hurt.

Any advice is greatly appreciated.

Thanks

Dean

Welcome Zaki,

Wow.  I live in Mission Viejo and amazed at all the folks that live around here.

I have invested in CA (Temecula, Murrieta) and out-of-state (Phoenix, Dallas, San Antonio, Memphis, and Atlanta).  I picked the market and moved based upon where the numbers were making sense (cashflow positive).  I would definitely recommend reading Brandon's Beginner's Guide (https://www.biggerpockets.com/real-estate-investing).

Welcome to BP,

Dean

I have invested with ATW.  I purchased 3 properties and invested some money into their hard money program (Upfront Capital).  It has been a very trying experience.  I had also looked for info on them before I invested but I didn't find any.  So, I decided to start blogging about my experience with them so that others can learn.  You can find my blog article on my blog site at: 

http://deansuzuki.net/2015/10/10/real-estate-experiences-investing-with-atw-investments-in-san-antonio/

Hi

Welcome to BP.  I live in Orange County as well. 

I purchased 2 properties with Memphis Turnkey.  One has done well and the other has not gone so well.  On the second one, I've been through two evictions and about 4+ months of pain.  The second one is in Raleigh.  I was thinking of selling the second one and discovered that getting out is not as easy without losing money as purchasing since I purchased it at close to market.  I purchased it about 2 years ago (March 2013).  It has not appreciated enough to offset the real estate commissions that I would need to pay if I was going to sell it.  I've learned a lot through the process.  I was coached that I should hold it for longer and hopefully the next tenant will be better.

So, I would caution that when you're buying from a turnkey provider, in most cases, you'll be paying close to market price or above market price since the property has been fixed up.   As Aaron mentioned above, understand your equity spread since it maybe small, 0, or even negative.  So, it will make it harder to sell in the near term (2-3 years) without losing money.

Alex has been good to work with and supportive.   However, I've learned that you should consider what your exit strategies before you purchase an investment, understand your equity spread, and be comfortable with potentially having to weather the storm (hold for 3+ years, endure multiple evictions, years with negative cashflow),

Thanks,

Dean