All Forum Posts by: Jason A.

Hi there - additional details would be helpful, however, if you simply need to borrow $30K you could consider Prosper or Lending Club (peer-to-peer platforms).  Note I believe loan durations are limited to c. 3 to 5 years ... 

Hi all,

Wanted to share an experience I had with one of my property managers this week and would appreciate your feedback.

I am newer to the game – having purchased four SFRs all in the last 10 months. I have a lease expiring in May and as such, I’d emailed property mgmt. to touch base and understand their sense of the local market (i.e. are we at market rents, under, etc.)

I was surprised to hear back that they had already contacted my tenant and offered another 12 month lease at the same rate. In their view, while the market is not soft, it has largely traded sideways – hence offering the same rent rate.

Thoughts / Questions:

• (1)My thought is to raise rents even by approx 1% ($10-$15 per month). Tenants aren’t going to make renewal decisions over a de minimis increase. While c. $12 is nothing, if I take this approach across all four properties (on the basis we were in a “sideways” market for each), it adds up at the end of the year and becomes incremental to overall free cash flow. Do you all agree with my thought process – how can I think about this differently?
• (2)For those of you with property managers (my properties are out of state) is the renewal rate something you’d want to be involved in / discuss in advance before mgmt. goes out to tenant? I’ve now asked each manager to ensure they contact me beforehand going forward.

Thanks very much 

Hi friends - 

I'd appreciate your thoughts on the following: 

After months of analysis, discussion, etc. I am about ready to move on my first single family purchase (new construction by the way).  To sweeten the deal the broker has offered to reduce the purchase price of the home by 1% which is entirely coming out of his pocket according to our discussion.   Furthermore ... after a bit of complaining ... he said the builder would eat the owner's title policy fee.  I am curious as to how: (1) what might the broker's cut be in total (how much of his take-home is he offering to give up?) and (2) from asking around thus far, seems like in some instances the builder pays the owner's title policy anyway.  Is there a standard practice when it comes to owner's title fee? 

Many thanks all ! 

thanks to everyone for your thoughts. i have some more homework to do.

Hi all,

I am new to the real estate game and would appreciate anyone’s thoughts here. I’d like to secure a few investment properties over coming several months in various cities across the US. Over the past 4 months I’ve done extensive due diligence and one of the more interesting pitches I’ve been given is as follows:

A RE investment firm in the mid-west helps investors buy homes in foreclosure (property goes from bank’s name to mine). The RE firm then renovates on my behalf for a fixed fee, markets the property, secures a tenant and, if I choose, will manage the property on an on-going basis. The value add here is that the gentlemen I’m speaking with says this process will allow me to “close with equity” through the renovation + buying below market via a foreclosure sale.

This process however requires all cash. I originally planned on buying properties via conventional financing, but he’s explained that forecloses are cash deals. What I can do post-closing is work with his lender to “cash out” which, in the end, would provide similar economics to conventional financing.

Any thoughts on this process? Appreciate foreclosures in the US are also now at lower levels not seen since 2006 … so not sure how he can necessarily secure a property “below market”.

Thanks !