All Forum Posts by: Jim Tiernan

Understood. But if you had an issue with ALL your ACH's, and was not aware of who was sent payments and who was not, why not send owners an email alerting them of the problem? A quick bit of communication doesn't seem like too much to ask.

Yea it was smooth sailing for first 2 years for me, then chaos. Lack of communication is extremely annoying. If lots of clients weren't going to get their deposits, wouldn't you AT LEAST send out a mass email so they didn't bounce mortgage payments? unreal.

@Scott W. slightly better the last few months, although I had to remind them to send my monthly deposit this month as I didn't receive it. Didn't want to miss a mortgage payment.

@Tim Milosich I certainly wouldn't mind if the lift lines were a little shorter.

There is a front page Denver Post article today about this topic:

 http://www.denverpost.com/business/ci_29915780/more-people-than-places-census-says-colorado-population 

Bottom line, construction is a long way from keeping up with demand.

I agree with @Travis Sperr, check out the Your Castle Real Estate market trends class. Travis, I don't suppose anyone taped Lon Welsh and Charles Roberts on this subject at the recent Pine Financial Summit?

you can try .neighborhoodscout dot com

Thanks for the support @Mike H.and @Scott W.

No, I didn't mention Mack crediting me 2 months of the six months vacancy. Because that hadn't happened yet as of my initial post. I did mention it in a later post.

Yes this has been extremely frustrating to say the least. The lowered rents (not communicated). The eviction that was going on for 6 months (not communicated). The vacancies (not communicated). How hard is it to send a one minute email letting the owner know what is going on? I should be netting $2500 a month once you factor in property management (which I pay wether vacant or not). I've hit $2500 ONCE in the last eleven months. The last 6 months I've averaged less than $70. So month after month I have been depositing money to pay the mortgages. Why? Because after months of vacancies, I found out the tenants on each property did thousands of dollars in damages. To the tune of almost $9000. So now I'm on the hook for those damages which I have been paying for months and months. And paid a bunch of legal costs to get judgements against those former tenants. Of course they are now unemployed so who knows if I will ever get that money back.

Definitely not the hands off turn key experience I was looking for.

If I could sell these properties for what I paid I would gladly do so. 

Thanks @Mike Fisher

I can only rate them on my own experience, which hasn't been great. 

@Mike Fisher who do you use for property management?