All Forum Posts by: Kellen Canfield

@Jordan Valdez Good man, been staying busy. Hope to see you there!

Aloha Kauai Real Estate folks,

It's been quite some time since we've had one of these, but I have had a good amount of people ask when we will be starting them back up so here we go! The February meetup will be held at the Lydgate Beach Park main pavilion in Wailua on Feb 25th, 5:30 PM. Everyone, no matter what experience level is more than welcome and feel free to bring friends.

The pavilion is first come first served basis so if it is taken, we will adjust to one of the other smaller shelters nearby.

This event is held to network and learn from each other so agents, brokers, trades, beginner investors, experienced investors, etc are all welcome.

We will be talking about a lot of different subjects so come on down!

In success,

@Rodrick Frazer, I'm planning on getting it going again in January. 

I recently refinanced a couple properties into longer terms with them and had a really negative experience. It could partially be because they aren't used to processing the long term products they are offering, but either way. Both took much longer than expected and I ran into problems every step of the way. The product they are offering is what I needed, but the headache was not. 

I think there is a reason that they used to be featured all over this site and now you can't find them in the HML section or the pro section... That probably should have been something I noticed prior to working with them.

Like I said, they do have some desirable loan products. The only thing I would recommend is if you go with them, push your process along as much as possible and audit everything that they do. You will likely have to catch mistakes made by loan officers, processors, and underwriters throughout. 

@Mark Baldwin, the squatters weren't the only problem over there. The county put up road blocks and dragged their feet as much as they could in the permitting process. They had signed and approved a plan and then came back to the developers and demanded a ton of extra things after. That made costs and time go through the roof. The developers definitely carry a lot of the blame, but to think the county was accommodating and patient is incorrect.

Aloha BP community, I have a duplex in West LA that I'm trying to get some advice on. 

I am working with my friend who owns it and we are kicking the current tenants out of both units to get it fixed up and performing at its highest and best. 

The tenants in the upstairs unit (his parents) have been hoarding for a long time and consequently there are a lot of things in the way of finding out the true condition of the house. We are trying to get ahead of the game as far as knowing what needs to be done to get the most rent that we can out of each unit and getting bids for that work, but are not sure where to start. 

Does anyone (specifically in the LA area) have suggestions on any companies that deal with hoarder houses? 

Does anyone (specifically in the LA area) have suggestions on quality, trustworthy, GCs that we could get to do the work?

We've thought about having a home inspection done to identify all of the areas that would need work done. Should we try and get that done after the hoarding situation is taken care of and the space is easier to inspect?

Thanks,

Kellen

Looks like Monday might have been a poor night to schedule this on. Due to interest levels I’m either going to switch to later this week or next.

Not to mention, their draw process when you have the rehab loan with them is a pain in the butt. I've had multiple draws that were not requested (to the inspection company) after I submitted them, not paid out enough because they thought the work wasn't done all the way (even though it definitely was), and they expect you to wait for a check in the mail after their 6-day draw process is done. If you request wires, it's $70 per wire. I'm not happy with the services that they've provided and will be seeking a new lender with more flexibility for the modern investor (and technology) in the future. 

Wow @Adam Wilbanks, looks great! I'm flipping a couple houses in that area as well, but it seems like our experiences with GCs there was vastly different. I'm now well over budget and way over timeline because I hired the wrong guy and waited too long to fire him. 

I'm also managing mine from afar, which was one of the big points of failure with the old guy, but they are now back on track with a new contractor who is cruising through them. Glad to see you found a solid contractor right away though. Do you plan on doing more in that area?

Aloha everyone! This month's meetup will be next Monday (25 February) 6:00 PM at Kauai Beer Company in Lihue. Bring your friends and family as this is open to anyone that is interested in investing and networking no matter what the experience. One of the points that we'll be discussing is hiring and firing trades and employees. See you there!