All Forum Posts by: John Matthew Johnston

@Drew Sygit Thanks for the reply Drew

@Kim Meredith Hampton Thanks for the reply, I appreciate it!

Hey guys, I’ve been buying and rehabbing houses since 2019. We currently have 10 single family properties in the best school districts and we self manage. We screen heavy and have never not got paid. I also work as a RN and looking to transition to real estate full time eventually. I really love RE and am wanting to do something that I am passionate about and would compliment my current goals in RE. For those that own property management companies can you give me any insight on what starting one up would look like and your honest opinions of the property management business these days. Thanks

John J

Hello BP! So we specialize in higher end single family houses in great neighborhoods. We screen heavy and our tenants usually make great income, no criminal history’s, and are great tenants. We recently listed a property on Zillow and the applicant is strong but it’s the mother of the person that will actually be living there. She is saying that she will be the co-signer. I’m sure I have to have the son fill out the applications also but looking for some guidance when it comes to co signing and how you guys do it .

@Caleb Brown Thanks for the reply

@Jonathan Greene I'm not messing up the BRRRR, I'm getting 1.5-2 percent in high appreciation areas. All appraisals are not perfect and I've had many come back very low. The banks are nervous and they are padding against drops in real estate markets and making the property less risky for them to hold a mortgage for. If I were selling them I would be getting 20-30 percent more. I'm not over estimating the ARV I know my market like the back of my hand. I have started to run my numbers more conservatively expecting lower appraisals. Thanks for the reply

@Kevin Sobilo Thanks Kevin. Solid information. Appreciate it.

First off I use the BRRRR strategy and have done very well with it. My problem is the 3rd R (Refinance) ". I one get low appraisals and I can do anything about it because I've tried fighting them and bringing my own comps and having my realtor meet them, but the fact is I. My area refi and sell appraisals are not created equal. One of my problems is that when I rent it the people move there furniture and stuff in and the property ends up looking worse because of the furniture and clutter. These are nice rentals in good areas. Am I able to have the appraisal done before having a tenant move in?

Hi just checking here, We are currently screening a tenant for a property we have vacant. I have screened many tenant but im seeing something on their credit report that I havent seen before. Its listed that she had over $11,000 rent recovery program on her credit report. What does that mean? If she didnt pay her rent through covvid and had the goverment bail her out is it legal to pass on her even know everything else meets our criteria for renting with us?

@Willie Creear III

Awesome man! We currently have 8 doors. Mostly SFR.