All Forum Posts by: Account Closed

Update for those interested. I spoke with apartment.com, they were helpful ~1:15mins on the phone with hold. They said some accounts that did not transfer to APT.com had been identified, and that mine should transition by July 16th. I got them to put it in writing/ email and I also just got another email from Cozy saying the transfer would take place.

According to customer service at apts.com. They consider a commercial property (not allowed) to be a retail/ industrial space. Residential to them is anything where people live, the number of units does not matter.

Ex. They consider a 50 unit apartment building as residential (allowed). My understanding its that anything 5+ units is consider commercial for insurance, appraisal, etc but this is not so at apartments.com

Late to the party but I just realized Cozy is done July 28th. My account was not transitioned to apartment.com.

Would prefer to not use Apt.com but if it works like cozy I might. Anyone already using Apt.com or Innago move from Cozy? How's it going?

Are commercial units not allowed on Apt.com? That doesn't make sense, most apartments are 5 units plus...

Avail looks like $5/mo per unit with a free option. If I sign my lease through helloSign, the free option might work

Innago- $2 fee for ACH... essentially $2 fee per unit/ mo. I'll probably pay this until I get new tenants. I hate fees but not to bad if they don't get bought out soon too!

+1 for Cozy.co. FREE for ACH. Have used it for a couple years now with a handful of properties. Works well and there website has improved some over the years. They now offer background checks and a few other things, haven't tried them yet but plan too in the future. 

Thanks all will consider all this when submitting my offer tomorrow.

Deane Hill is a great area, I like your survey idea. I'm thinking some sort of geologist might be good to have take a look as well.

@Matthew Paul- One side of the property drops off to a potential septic field with less rock luckily

If you don't mind sharing, what does a 450ft deep well roughly cost? I'm just curious.

Hello I found a great lot for a great price within 15 mins of Knoxville. This is a hot area. I hope to buy and build a couple houses.

The lot has two buildable locations, lot is 10 acres total, private, good area, etc... the catch is that limestone bed rock is at or near the surface about everywhere.

What should I be aware of and consider prior to my purchase regarding the bed rock. Things like septic (required), waterlines, and a well (required) are suddenly more difficult below the 1 inch deep soil is soild rock?

This is in the Knoxville area of Tennessee

Tips, advice, stories, or experience with sites with bed rock close to the surface welcome. Thanks!

Hello, I plan to purchase a SFH home in las vegas to live in for the next 24mos. I plan to sell the home at that point as I ll be moving out of state. Alternatively, I’d rent the home for a few more years and then sell. What should I look for in a home to increase resale ability, potential appreciation, and management ease if I rent? I am somewhat familiar with the Las Vegas area but am new in the area as far as real estate is concerned. Currently I m considering homes with the following criteria. -single level -south of I-215, west and east of the I-15. - sub $300k -1100-1500 sq ft - garage and back yard My goal is to break even after 2 years and hopefully make a little if appreciation continues during that time. Am i on the right track? Any tips for someone new to the las vegas market (but with some RE experience)?

I know someone that did the same thing as your friend. The free course is an up-sell for the 3 day course he has bought. The three day course is another up-sell for a course that gives you the 'real secrets' of RE investing (for about $20,000). They will loan you the $$ for the expense course and use very questionable selling techniques. They are amazingly convincing sellers and also totally unethical in my opinion. I warned my friend but wish I had made it more clear. He purchased the expense course, he was able to get a partial refund about a year later but it was an expense lesson. 

These courses do provide some information but you can get more information (and better info) for free from a variety of places. Better yet, take the $20,000 and spend it on a down payment instead. You will learn much quicker and you'll actually be investing. I'd recommend an intervention or go with him (sometimes they allow a free guest to attend) and talk him out of it, just don't get sucked in yourself.

Not all coaching classes are without value but Rich Dad classes are notoriously bad. 

@Peter Crabtree I'll be refinancing a small apartment building in the next couple years. My bank suggested this as an option. I'd suggest meeting with Home Federal Bank and Mountain Commerce Bank. They are local and easy to work with, great for establishing a long term relationship. Their rates are competitive and they are more flexible than most non-local banks. I've heard good things about Pinnacle and American Trust of East TN (which I think just got bought) but have no first hand experience with them. 

Very frustrating, I just got notice of this. Sounds like you must get the $13/26/mo Quickbooks subscription AND they still charge the 50cent fee for each payment!

I've had several similarly frustrating instances with Inuit in the past year. I'm done.

Anyone know another service that charges a flat fee per transaction that is close to $0.50?

I have a multifamily 'commercial' (6unit) under contract. I am somewhat new to loans. I just got a loan commitment letter with following terms. What do you make of the terms? Any advice or good questions to ask before committing? Thoughts on the rate choice?

-Amount= ~$270K

-% Down= 20%

-Fixed Rate Choice of the following: A) 4.50% for 5 yrs. B) 4.75% for 7yrs. OR C) 5.25 for 10yrs

-Amortization= 25 yrs

-Origination Fee= 1% (~2700$)

-Loan in LLC (single member) name by I do guarantee it personally

Thanks in advance