All Forum Posts by: Jason Dale

Hi @Glenn Lienhop

Sorry for the late reply, I've had a second baby since the original post - been busy :)

I have not gotten another property yet. We are getting out of the newborn phase and trying to get back into investing again. I found my next property, but I need to find funding - I don't have the ~20% down. 

I'm also working on a property analysis app (I'm a web developer). I'm pretty new to the web developer role (internal promotion) so I've been focusing solely on learning my new career for the past few months. 

What properties/deals do you own? I know all the basics of REI, but I'm still very much in the learning phase - let me know if I can help in any way, I need experience too.

I have a basic app half-built in PHP on Symfony using the Zillow API, but again  - the 501 error comes up a lot. Once I get the rest of the math working I'll look into other API data sources. I also am probably going to move the whole project to Vue and Typescript - it's getting messy in vanilla JS. I'm a web developer/application engineer. 

Subscribing - I'm looking for something like this too. I'm building an app to help analyze properties, but the 501 comes up all the time. I've been looking at some I found via programmableweb.com (https://www.programmableweb.com/search/mls) but for testing I'm just sticking to Zillow. I can add other sources later.

Been looking into this company, the trustpilot link above is filled with 5 star reviews by users with a single review. Probably fake accounts to boost their rating. 

Did a whois on their domain, it's a GoDaddy site and the registrar is Domains by Proxy (hides the true registrar information). Not that this is particularly BAD but it hints at less professionalism and something to hide. 

They are just painting, not like doing actual construction or anything like that. I meant it as in they are trying to make it better not worse like the last tenants, so I feel like that's a good sign. If tenants paint, they feel like it's more "theirs" and are more likely to not destroy it because they don't have attachment. 

My first tenants moved in October 1st. They are already out. They were a fairly young couple, excited to move in together. Then apparently the gf left him and lived with another guy for 7 weeks (and came back?) but he couldn't pay rent by himself. There were a LOT of issues during the 4 months they were there (parking, dogs barking, fighting until neighbors called the cops, shoveling dog poop from the garage into the walkway - caught on video and denying it - and never paying rent on time) but when they moved out, they left the garage full of dog poop, there were BB gun holes in one of the walls, dog pee and poop all over the inside and a bunch of stuff left over. They moved out voluntarily instead of being evicted which was not a great situation but at least I didn't have to go through the eviction process. 

They seemed promising. They screened well. Sometimes you just get crappy tenants. 

My new tenants seem great, they even offered to make improvements to the condo. Hopefully we'll get lucky this time, but I'm still skeptical. They move in next week. 

@Stephanie P. @Isaac Blocher I am still working with other lenders, but this will not be my last loan - I have several other listings I am interested in for my next property. What can you offer? 

@Stephanie P. Thanks for the info, since I own another unit there I know all the gritty details. The original builder screwed the HOA over hard (he was in charge of the HOA at the beginning and paid himself for random stuff, while not paying in) but we have since sued and won (there's a LOT more to that back story). There is a patio construction project we are taking bids on but the HOA is cashflow positive finally. I have a copy of the approved budget. It is warrantable though. The current owner-occupancy is 50% but there are no rules regarding Owner-Occupancy in the HOA bylaws. One investor does own 9 of the 26 units.

Thanks! I'll check it out. 

Hi, 

I have a condo in CT that I rent out for $1500/mo. Another condo 2 doors down from mine just went on the market on foreclosure for $85,000. I purchased mine in 2012 on foreclosure for $125,000. There are some issues with the community but they are being addressed soon (unsafe patio was removed and needs to be rebuilt). The appraised value currently is probably $130,000. Once the patio is replaced, the value should be at least $140,000.

I have $15,000 cash and the bank will probably accept an offer of $80,000. I need $65,000 to close the deal. I have tried multiple local banks and credit unions but they all want more down payment. I am trying crowdfunding now but I would prefer private money. 

My unit cash flows about $300/mo and this new unit should cash flow around $500/mo. HOA fees are $288/mo.

Thanks!

Jason