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All Forum Posts by: Mark Holencik

Mark Holencik has started 2 posts and replied 393 times.

Post: Vacant Property - Can't locate owner - SFL

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315

I write letters to make the first contact.

Originally posted by @Darek J.:
Originally posted by @Mark Holencik:

The guy is doing all the work. You just have to write a check.

 So then, is it typical for neighbor B to always be obligated to pay for a portion of a shared fence whenever neighbor A decides he wants to replace all the fencing around his property for any reason? Even if the shared fence still has life in it, and no prior conversation was had before the decision was made by Neighbor A? 

The fact he is replacing all his fences seems to me that he isn't just replacing our shared fence because it needs to be right now. This seems more like a cosmetic decision. 

I am seriously thinking about declining. As with any other capital expense, it doesn't seem good business practice to replace it before it's closer to the end of its usable life. 

 I did not say you are obligate to pay. I just said it is a good deal.  

I try to be a good neighbor.

I try to make my properties the best looking in the neighborhood. I do not want to be the house that you know is a rental. When you go on a street  you can pick out the house that is a rental. it is always in need of some kind a maintenance. The owner is trying to squeeze every dollar he can out of the property. 

The guy is doing all the work. You just have to write a check.

Post: Selling my house. buyer wants me to carry a note. Help me out

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315
Originally posted by @Chris Purcell:

The down payment after paying off your mortgage ($0) is too low

 Why do you say that?

Post: Selling my house. buyer wants me to carry a note. Help me out

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315

I agree with Jay, the interest is too low. 

If I am buying a property that the owner is having a hard time selling I give them 6%. Otherwise I give 8%. 

If I was selling it would be at least 8%.

Post: Selling my house. buyer wants me to carry a note. Help me out

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315
Originally posted by @Raquel D.:

I would wonder what the terms of the trust are, although I'm not sure if you'd actually be entitled to that information. Some trusts have a set number that gets distribution -- x dollars annually or in more frequently installments. There are some trusts that distribute a percentage of the balance of the trust assets. But most commonly, trusts tend to distribute all income to the beneficiaries. If that's the case, then depending on what kinds of assets are in the trust, the income could fluctuate from year to year. (This may not matter, but I'm mentioning it just as a factor to consider to make sure the trust distributions are as set-in-stone as they believe.)

If I am giving a mortgage based on that payout, my lawyer would see the terms of the trust. If I am lending anyone money, I am entitled to see whatever information I want or I do not lend them the money.

The tenants policy will help cover, their guests. Since you can not moniter this, their policy will cover stupid things they do.  

If they have a car, their policy should be almost nothing. They should bundle it with their auto policy.

Post: What color should I paint the exterior.

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315
Originally posted by @Zach Scheer:

This spring/summer I would like to paint all the aluminum siding and trim work. I don't know what color to go with as I'm not the greatest designer. I was thinking white or a light grey. Everything but the brick and window frames would be painted.

 Why?

If it is for maintenence reasons, I would go with the same color. 

Post: Told to scrap investing

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315
Originally posted by @Rich Thoms:

pretty much thrown in the towel on local CT agents. contacted several of them and have experienced various levels of frustration trying to  line one up to help me find properties. Im probably going to start with a so called "TurnKey" to get things going

 Find the agent in your area that sold the most properties last year. They know the market and make things happen. Even if they can not help you, they know who will.

Post: My biggest Obstacle, Too young??

Mark HolencikPosted
  • Investor
  • Coplay, PA
  • Posts 404
  • Votes 315
Originally posted by @Leah Bonner:

Hey guys! I know this is just my silly excuse but this has become my biggest obstacle! 

I'm 20 years old and a women. It seems like women aren't taken as serious in business as men ON TOP OF that im only 20! -_- I've made wholesale deals, and have made 1 owner finance deal. but my fear is still speaking with the homeowners because I think they will just laugh. When really i know i can do this business because I have already 

Any advice to getting more confident? 
I attend a couple REI meetings as well I'm going to start forcing myself to talk with people and get there business cards etc etc

But how can i get over the fact of being scared/ timid to talk with homeowners?

Probably a very silly post but i just can't seem to shake it! I have a website that is getting a couple leads here and am going to force myself to hand out bird dog flyers to mailmen/ trashmen but even with that I'm scared they willa think "yeah right YOU can buy houses?" 

Nothing silly about this post. 

I am a 61 year old male, that at one time had 13 units and sold them because he had no time to manage them.  At 60 I decided to do it again. Last year I did 11 deals/ 12 doors. This year I have done 7 deals/ 12 doors so far. I also have a well known construction company with 25 employees.

I do not use the women and age thing, I have my own set of excuses that I can use if I choose to use them.

 I do hear the voice in my head telling me that "but my fear is still speaking with the homeowners because I think they will just laugh."

I also hear the voice telling me "you do not know enough about the industry, they will find out you do not know the proper lingo." 

You do not have an education. I did not even graduate high school.

The list could go on and on If I let it. 

The only difference between me and you is I do not listen to the voice's. Wait there is no difference. You are not listening either. You are still moving forward dispite the negative voice's. 

61 or 20, male/female, education/uneducated, you and myself will be the only ones that know these voices are going on, because inspite of the voices we are out there making deals. What I have found out is most people listen to those voices and are crippled by them. With time and experience they will not be as loud. Maybe? LOL