All Forum Posts by: Mark F.

You may want to spend an hour or so reading this thread.

https://www.biggerpockets.com/forums/960/topics/1196567-norada-capital-management-suspending-payments

Can you guess which number this one is? Definitely not #8

https://www.biggerpockets.com/forums/62/topics/1197577-real-estate-myths

Sounds like you're jealous cause I got more doors than you.

Seriously it's pointless because of relativity. When guests on BP say they have 20 doors (I know they're not bragging they're just stating facts to further the discuss) I used to feel deflated. Then they talk about how it's $2 million in property and I chuckle as one 4 unit in my area is about 10 doors in there's. Big difference in owning 10 doors in San Diego vs. 30 doors in nowhere Gerogia.

Quote from @Nathan Gesner:

Quote from @Bruce D. Kowal:

I'm interested in a copy. My email is in my signature block.

Just use archive.ph for any pay wall articles. And here ya go

https://archive.ph/fFLVR

I'm going to assume the obvious that it is tied to a home, land, commercial building, etc.? If so, paperstac.com is quite popular these days. If not there, there's a few FB note investor groups where you could post it and someone maybe interested. I would say if you do post it be as detailed as possible minus borrower info re: what's the collateral exactly (estimated value, condition, etc), outstanding balance, state where it's held, terms, performing or non, 1st or 2nd position, payment amount and what you're asking price wise.

Apartments.com will do everything you need and it's free for you and the tenant. It automatically charges late fees once you set it up. I have 3 properties on it for 6 units without issues. I plan on using them still once I aquire another small Multifamily. It has other features as well like maintenance request, automatic reminders, etc. The downside would be it takes about 3 to 4 business days to receive the rent money. This isn't an issue as I push all my mortgages to pull from my bank on the 15th of every month for free.

Cue Nathan for his lengthy response. Needs to be a sticky. There's zero reason to be paying money for a rent collection system unless you plan on scaling pretty big or already have a bunch of units  

Quote from @V.G Jason:

Great job. Call out these terrible acts by terrible folks. 

The syndicator is just a letter off from the word Lame. Spill the beans, the world is too public.

Careful what tree you bark up, you'll get the wrong dog. Fold you like a pretzel if you try on it. 

 @Lane Kawaoka. Dunno if it tagged him but the guys at Drunk Real Estate (@J Scott) talked about this topic a bit in their latest podcast episode regarding LPs or random strangers calling out GPs on Twitter/X. There's a big difference from calling out scammers and fraudsters verses calling out failing syndications. I saw nothing wrong with what Giles said as he was shedding light on the lack of communication. If i was an investor in Lane's syndication and he pulled that, I sure as hell wouldn't be scared. Linked to his profile in this post as well.

I invested 5 figures into a failing note syndication (AHP) and theres a thread on BP. The sponsor has posted updates in it, albeit it bad ones. Glad Scott is addressing this head on and sorry to hear it came to this.

https://www.biggerpockets.com/users/wealthelevator

I'm appalled. There are tons of ethical wholesalers in your home state, who post in some sort of non specific NJ RE investor Facebook group, who definitely do not daisy chain their deals, inflate ARV's or just post crap that's literally on the MLS. I mean everyone has to start stealing deals from someone, I mean start somewhere right?

The kicker is if you tell the poster of any of these questions how asking the question shows how woefully unprepared they are, you get lambasted. As if not showing any general initiative on insanely general questions isn't a precursor for a lazy wannabe.

I'm not going to regurgitate the excellent info these guys provided as they're all very experienced, I just want to provide a slightly different perspective. I only rented for about 5 years over my life and the one major issue I had was bad communication coupled with the PM not knowing landlord/state laws. 

After coming home around midnight, my apartment deadbolt decided to crap the bed. Called the super with no answer which wasn't surprising. Eventually got a locksmith out around 2am after one ghosted me. He said the brand of deadbolts were junk and saw this all the time. The repair bill was about $225 which I forwarded to the management company and said I will deduct it off my rent. Let the song and dance begin. Weeks later, the PM said I didn't pay the full rent amount. I reply back with my original email, giving them notice of my repair. They reply "repair denied" as it wasn't authorized so I told them to look at the receipt for the timestamp. PM said they asked the owner who denied the repair credit due to not reaching out to them, to which I quoted NJ statute for tenants making emergency repairs and showed them my call log to the super. Happened to move out a few months later as I bought my first duplex. 

Don't be like that PM company. My realtor loves telling my tenants I'm one of his better landlords as that's just because I do my best to keep the places safe and in good condition.