All Forum Posts by: Mark Fleming

Quote from @Aaron Gordy:

@Mark Fleming

Its a good area. The property will do very well over the long term.  

 That's reassuring.  I appreciate the insight. Thanks!

AaronQuote from @Aaron Gordy:

@Madhan S.  Boots on the ground is critical. I am not privy to any particulars of the deal at all. The array is located on Burton Drive. Burton drive is in the rapidly gentrifying Riverside/Oltorf corridor. 

Aaron, thank you for giving us some local visibility on the area.  I'm in the Array deal and it seems one of the issues they are facing is that the location may be a little more sketchy than they anticipated. They've had some vagrant issues and are trying to improve their tenant base.  Can you let us know what you think about the quality of the neighborhood and rate of change in that particular area.  I've lived and invested in areas like this before, and I know it can vary block by block. Either they expected change that hasn't yet materialized, or they didn't understand the local dynamics.

AaronQuote from @Aaron Gordy:

@Madhan S.  Boots on the ground is critical. I am not privy to any particulars of the deal at all. The array is located on Burton Drive. Burton drive is in the rapidly gentrifying Riverside/Oltorf corridor. 

Aaron, thank you for giving us some local visibility on the area.  I'm in the Array deal and it seems one of the issues they are facing is that the location may be a little more sketchy than they anticipated. They've had some vagrant issues and are trying to improve their tenant base.  Can you let us know what you think about the quality of the neighborhood and rate of change in that particular area.  I've lived and invested in areas like this before, and I know it can vary block by block. Either they expected change that hasn't yet materialized, or they didn't understand the local dynamics.

I've been receiving venmo from half my tenants and auto-pay physical checks from the rest.  I like Venmo much better.  It pings my phone the minute I receive the payment and it's a segregated account, so rent tracking is easy for those tenants.  My one concern is that there is no way to control partial rent payment.  My limited understanding is that this could be problematic if you get into an eviction situation.