All Forum Posts by: Edward Stephens

I am getting ready to move to Oklahoma and my parents who are separated will each be giving me their single-family homes. I want to start building a multi-family portfolio. The homes are worth roughly 500k together and about 190k equity between the two. I plan to live in one of the homes. How can I use the homes to get into multi-family? 

He keeps promising tomorrow, soon, next week and then they never send anything. I have a real estate agent that has been down to the office personally and requested managements contact information. We leave voicemails for management, sales, and the construction manager that all go unanswered. They sent an email saying on the 21st I have pre inspection walk through before closing on the 9th. I asked if we could reschedule the walkthrough considering I have not had a response on my inspection and they said sorry you can’t reschedule you must appear in person. It’s a $700,000 transaction so I feel slighted and uneasy about moving forward. I realize someone else will come along and purchase these units because they covered up what I saw in my inspection. The sales manager just gives me the run around and says his hands are tied. I’m really not sure what to do. 

Hi @Edward Stephens or @Alex Olson, I too am an OOS investor looking for a PM for my SFH. Do you have any recommendations for a rental in Ruskin Heights?

My wife and I are under contract for two town homes in Florida. We were offered 5.9% financing through Lennar for an investment loan. I decided to get an inspection on both properties pre drywall and my inspector found several issues from warped roof trusses, all steps un-level, damaged metal wall framing, un-level flooring and un-level concrete flooring. I told Lennar I want these issues rectified before drywall is hung so I can see they have been taken care of. 24 hours later I sent the I inspection report to the construction manager and sales team. They replied saying that the drywall has been hung and pre inspection before closing is in 3 weeks. I told them I wanted proof they have fixed these issues but will not provide any paperwork or sign any documents stating so. I told the sales manager my frustration and he said he would give me my deposit back. Would you back out of this deal? Or would you continue moving forward with this deal? I feel as though Lennar believes they can sell these units regardless if I back out and they don’t care what my inspection reports found. How would you handle this? 

Thanks 

Hello Kansas City, MO community!

As an out-of-state investor, I'm on the lookout for stellar property management services in the Independence area. If you've had positive experiences with any management companies, I'd really appreciate your recommendations. Thank you for sharing your insights!

Hello! I'm a recent military transition looking to embark on the journey of house hacking with a VA loan in Dallas. I would like to start in the next year or so ideally. I'm just curious if anyone in the community has had positive experiences with an agent in Dallas and would be able to recommend someone. Any help is appreciated!

Thank you,

Michael Camarillo

Working on renewing our insurance and because we have a lease of less than 12 months, (most are 60-90 days and are often renewed into longer terms once they establish themselves here) our rentals are considered short term - so we are grouped into the more expensive and riskier categories as traditional vacation rentals where you do have significantly more risk of parties, harder use on the properties, etc.  As a result our rates are significantly higher on these properties.  We currently have 7 buildings, 8 units, and are adding at least 5 more buildings this year with an additional 9 units.  All furnished - targeting traveling professionals.

Has anyone found an insurance company who has realized traveling professionals needing a furnished rental but not for an entire year are some of the best tenants possible and offer reasonable rates?

Thanks in advance for your time and advice! ~ Christi