All Forum Posts by: John Laney

I've done two deals with him and up until last month have been happy with the results. My only disappointment is his team. 

So far I've not received my last two months distributions.  His team says they ACH transferred it to my account, My bank never received the money, and the team is pushing  the responsibility back on me to track down the money.  

So now I'm spending my Friday night on BP trying to figure out arbitration or what ever is the next step to get my monthly distributions.

If the tables were turned and he never received money that I wired, I'm quite certain he would not be the one responsible...

Would love to hear if anyone else has had similar issues...

Thanks  Joe,  He gave me a tracking number. Which I then provided to my bank. Unfortunately it's not really helpful since my bank never received the money in the first place.  

@Joe S.

Hello,

I have been a LP with a popular national syndicator.  While I've been happy with his performance, this last month they have failed to pay me my preferred return.

I've reached out to them twice; they claim they have sent the money via ACH, case closed, and they are not taking responsibility in tracking down the money.

I've also reached out to my bank to open an investigation; my bank claims they never received the money and that it is the responsibility of the sending bank to resolve the issue.

The money is missing, Both sides are pointing fingers with me in the middle.....

What is the way forward when money simply goes missing in an ACH transaction?  And who's responsibility is this to resolve the issue?

I feel like I'm not getting the best ever service that I deserve...

Thanks, John

Hey Mark Jeremy is one of the main listers of Secondary Midsouth homes. You can reach him at :

Jeremy Veldman – Affiliate Broker (TN License # 327507 )  you may need to google him...

Let him know I sent you.

I'm hopefully closing with my 4th house tomorrow.... Best, John

Hello,

I am making my 4th Mid South Home buyers purchase; however on this purchase the Tax grid is not matching the city's plat.  The City plat is accurate, but the tax grid cuts off a small slice of my property.  This means that I am paying slightly less taxes than I should be...

By my eye, the realtor's eye, and the Title company attorny's eye this does not seem like a big deal. At the worst the city may re-assess and charge me additional taxes in the future.

However, is there something I am missing??? Could the city come after me for years of back taxes?   Could the property owner sue me for paying my Taxes?  Is there some other way this could bite me?   

Happy to move forward, I just want to understand the risk I am taking .

Thanks, John

@Richard Lovering

I’m planning on going with them on their multi fam fund. I’ll let you know how it goes

John



@Emma Powell Would you ever really want to do business with someone who starts off an interaction that way online or in person? prob not.

I would probably block and move on, if it is over the top please block and report

Hello, I've been investing with Midsouth home buyers for a year + and really like how they do business.

Does anyone know of a secondary market for their homes? They have been doing business for 15+ years and I'm sure some of those early investors are ready to cash out and take their profits.

Thanks, john

@Richard Sherman and @Alex Peterson ,

Thank you much I appreciate the information. So what I heard / pieced together is that there are 4 primary ways to get listings

MLS listings = Single family and duplex/quad properties through a service like redfin
Free Commercial listings = Through loopnet

Paid Commercial listings = Through a paid subscription to loopnet/costar or through my broker (if my broker paid for this service)

Pocket listings =  Through my network / brokers network.

Therefore, If I am focused on lead generation I need to be sure my broker has access to paid loopnet and a good commercial network. 

Thanks much for the help guys.

BTW: I am moving back to Newberg in the next ~2 years and am looking for a 0,75-3mil multifam in that area. I know it is a tight market in Newberg, but I would like to live close to my first multifam.

Hello,

I am a single family investor who is new at the multi-fam/commercial game.  And trying to get my mind wrapped around the sources for single-family and multifamily listing services in the Portland area. 

I started corresponding with one commercial realtor (not signed any exclusivity agreement), but got frustrated as I was able to pull more and better listings off loopnet and redfin than he was able to give me. 

So,  I reached out to a different realtor to see if he had a better source of listings. Unfortunately, this realtor sends me listing where half of the listing have already been sold?!?

Is this normal to have such a difference in realtors?

If you could help me understand what is the source that loopnet, Costar, MLS and any other listing service pulls from I would be grateful.