All Forum Posts by: Kris L.

I can’t say I agree here. Most title companies are focused on retail real estate, and they have more limited experience with what investors are looking for. Nothing wrong with that, but it does seem like taking your Jeep to be serviced at the BMW shop.

0 Votes

San Antonio, Texas

Hi,

I am currently looking for a title company in San Antonio and was wondering if anyone here has used Priority Settlement Group of Texas? If so, what kind of experience did you have with them?

0 Votes

San Antonio, Texas

I have done a few BRRRRs but with the rise in interest rates, most of my capital is now stuck in properties. How would you recommend I shift gears into wholesaling to rebuild my available capital?

1 Vote

Does anyone have a good recommendation for a plumber in San Antonio to repair a sewer line in the north side of town? This would involve some tumbling under the slab to get to the problem area.

1 Vote

San Antonio, Texas

Quote from @Russell Brazil:

Quote from @Kris L.:

Quote from @Russell Brazil:

I looked it up. Right off the bat, the marketing of the property sucks. Photos suck. No floor plan. No 3d tour. A hand drawn purple arrow instead of something professionally done.

and if it sucks on the MLS, Im sure the rest of the markrting is non existent, such as email and social media marketing campaigns.

Thanks for the feedback Russell. A agree now that you point out the arrow. There is a 3D tour when I check it on my Zillow app. Which tool did you look at it with do I can make sure it gets added there?

I will put together a floor plan as well to include. Was there anything in particular about the photos that you could elaborate on beside those I mentioned already?

I do appreciate the input.

So you're doing the marketing yourself and not your agent? Why? You should hire a top notch agent that knows what they are doing. You're going to end up costing yourself $30-50k in the end.

No, I have an agent running this, but based on the comments from you and others, they have some things they need to fix with the listing.

2 Votes

Saint Petersburg, Florida

Quote from @Allen L.:

@Kris L. do these lenders typically charge origination or any closing costs?

Mine did not, though mine was through my local credit union.

0 Votes

Quote from @Mike A.:

Quote from @Nathan Gesner:

Quote from @Mike A.:

Sadly we're moving away from TenantCloud as they are now going to be charging $1.25 per ACH transfer. Since we have dozens of tenants, this is not going to go well. We've already informed the tenants of the fees, and many are pretty pissed. I understand CC fees, but ACH fees are not being received very well.

Why do you guys use?

ACH fees are pretty common. Is it really worth your time/effort to switch software over this?

Personally, I eat the ACH fee because I want to make it easy for my tenants to pay rent every month. I have almost 300 renters paying via ACH and it's worth every penny. As a Landlord, can't you afford to eat $1.25 a month in exchange for the comfort of knowing payments are on time? The cost of mailing a payment via check is $0.60 plus the time it takes to deposit it in the bank. ACH is cheaper, easier, and faster.

Yes.

300 units x 1.25 = 375.00 per month or 4500.00 That's a lot of money to cover.

It is on the surface, but wouldn't that still be around 0.1% of the gross rents?

1 Vote

I did that last year for some renovation funds. Worked out pretty well, but it was for only 40k as opposed to your offer.

0 Votes

Quote from @Bob Okenwa:

@Kris L.

I'm not trying to pick on you or be mean so don't this personally. Just constructive criticism from an investor and agent.

It's overpriced as hell and approaching stale status. You bought at the top of the market then took 6 months rehabbing 1400 sf. I know nothing whatsoever about this area and ran comps in a small area around the 19, Michigan Blvd, Pinehurst Rd, and San Christopher Dr. Comps from 1200sf-1700sf.

There are 4 active comps and the average DOM is 50 days. Even in this environment, if you're not going under contract in a month, you're overpriced or your home isn't good enough and it's overpriced.

There are 7 comps that sold in the last 3 months. Average sale price is 450k. Average bedrooms are 3. Average bathrooms are 2. Average square footage is 1436. Average price per square foot is $334.

This home should've been listed at 450k. Maybe 475k with a better rehab and better photos as the others have alluded to. Not sure who set the price at 529k, but that person didn't and doesn't know what they're doing. Even if you went under contract at 529k I'm not sure how it would appraise. Did you get an appraisal prior to listing?

https://www.redfin.com/FL/Dune...

The link above is a superior listing at 1120 Jackmar Rd. Better photos, it has a floorplan, better rehab, better finishes, and it was staged. Purchased to rehab on March 17th. Listed for sale on July 14th. Under contract on July 16th. Closed on August 5th. They did everything right. You have made many missteps.

The old-looking brown cabinets with dark hardware are not very appealing. Light and bright should have been your theme IMO. You're in a beachy city (I presume) next to the water. Lean into that. On top of that, there is no door trim around the front door and I can see outside light in the door jambs, older-looking granite, and photo #21 shows a bathroom that wasn't rehabbed. There are no door casings in your home and the laundry is outside. Nothing about this property is particularly special to ask as much as you had for it.

Drop the price under 450k and you should see movement.

Fantastic feedback Bob! Really appreciate it.

1 Vote

Saint Petersburg, Florida

Quote from @Russell Brazil:

I looked it up. Right off the bat, the marketing of the property sucks. Photos suck. No floor plan. No 3d tour. A hand drawn purple arrow instead of something professionally done.

and if it sucks on the MLS, Im sure the rest of the markrting is non existent, such as email and social media marketing campaigns.

I will put together a floor plan as well to include. Was there anything in particular about the photos that you could elaborate on beside those I mentioned already?

I do appreciate the input.

0 Votes

Saint Petersburg, Florida

All Forum Posts by: Kris L.

Kris L. has started 50 posts and replied 888 times.

Post: Anyone used Priority Settlement Group of Texas for Title?

Post: Anyone used Priority Settlement Group of Texas for Title?

Post: 👉Ask all your WHOLESALING questions for Jamil Damji here!

Post: Looking for plumber to repair sewer libe

Post: Trying to understand why house isn't selling well

Post: Have you guys used personal no collateral loans for real estate?

Post: Dropping TenantCloud due to increase in fees. Who do you use?

Post: Have you guys used personal no collateral loans for real estate?

Post: Trying to understand why house isn't selling well

Post: Trying to understand why house isn't selling well