All Forum Posts by: Marc Stevenson

@Leah VandenAkker  Hi Leah.  while I agree with much of what's been said, i.e do your diligence, get your own apparisals and inspections.  I would add one thing.  My experience with investors that have brought on investment properties for us to manage is that many times when they were purchased from a turnkey company it's not so much that the work wasn't that the property or work isn't nice.  It's that the lease amounts they were told the properties would lease at were inflated.  I've actually had some investors that had to turn around a sell off the property almost immediately, because they weren't in a position to absorb rents lower than all in payments.  My advice, contact a reputable Property Managment Company in the area you're looking to purchase and ask them to run rent comps of the property "before you buy it".  Most will do this for free and will be very transparent with what the property will bring.  Best of luck!

@Linda May Wacker Hi Linda.  I would say yes, but it's important to find the right kind of realtor.  Many realtors are great at what they do but most are typically helping owner find their forever home.  There is a huge difference between an agent helping someone find their forever home and an investor agent that understands what an investor is looking for in a property to continue to invest.  I'd recommend finding a good property manager and asking them for a referral to an agent.  Many don't realize how connected to all the different areas of RE investing a good PM can be.  PM are constantly dealing with agents, lenders, investors, etc.  Ask around for who's good in your area and call them and ask them if they refer any investor agents.  Best of luck!

 @Tony Aliatim I think you'll find that most of bigger pockets would say RE. Good investors invest in all markets. There is always a way to do it. As a new investor i'd recommend to start attending as many REI meetings as possible and get to know other investors. There's always a wealth of knowledge being gained and you get to meet some great people as well. Happy Investing!

@Thomas Harris  I enjoyed reading through these responses.  Some very colorful.  My input would be...you can get new "great renters"  that would be happy to pay what the property is worth.  Also, when your current good renters realize they can't find anything that inexpensive because all properties have gone up...they'll likely want to stay.  Wish you the best!

 @Eric Goldman Thanks for the input!

 Looking for a good lender.  Any referral you have would be much appreciated!

Hi Jay!  Yes, my thoughts exactly!  That is nuts.  Thanks for taking a few minutes to chat today.  I appreciate the time.

Happy to help anyway that I can.  Kileen is a great area

Hey just wanted to know who ya'll are currently using when refinancing out of a hard money loan?  I've noticed that some lenders are no longer refinancing on the after repaired value if the house has been owned less than 5 years.  Are you seeing that?  Also, what are your thoughts on 20 vs 30 year terms when the plan is to buy more?  Any thoughts or input is appreciated!