All Forum Posts by: Cameron Davis

I have worked with around 11 property management companies in 4 states since 2009, and they are the worst, by far.

Quote from @Ron S.:

it's just this quarter's get rich quick scheme. The devil is always in the details. Why pay anyone for anything you can get yourself for free?

 You ask, why pay for something you can get for free? I'd say the average person (maybe not investors on BiggerPockets) would get lost the moment you say, "You can find these loans yourself online... It's public records." The Roam site tells you which properties have these loans, what the interest rates are, what the monthly payments are, what your down payment will be, and they supposedly help you through the process. I have no clue as to what some of these other posts are talking about when they mention "there's a $5,500 fee, the agent will have to cut their commission", or several of the other comments. People can decide for themselves if this service is worth 1% of the purchase price.

Quote from @Caroline Gerardo:

They charge $5500 non refundable and 1% to buyer side so realtor is going to have to kick in money.

What exactly do they do? Collect your money.

Servicer of note is not required to respond in any specific time frame. 

If a seller has a FHA loan you need to write in your contract that you want to assume the note and seller has to agree to wait for the time frame to make it work (45-65 days minimum).

@Paul Stout do you work for Roam? Not all FHA loans are assumable, some are to qualified owner occupied buyers.

Readers, please do your own research and don't just go by what people post on the internet. Roam charges 1% of whatever the purchase price is (included in the closing costs). I don't know what this poster is talking about when she quotes a $5,500 fee. And why would the realtor have to "kick in money"??? All FHA and VA mortgages can be assumed, but the buyer must qualify for the loan, and the buyer must live in the property. So what exactly does Roam do? I spoke with them, and it seems like you are paying them 1% to help you go through the process... that's about it. Their website does show you the addresses, down payments, interest rates, and monthly payments, so you don't have to try on your own to find a property that works for you. No, I don't work for Roam. They told me it typically takes 60-90 days to close.

I have only invested with one syndication deal... through Holdfolio. All was fine with quarterly distributions for about a year. Now interest rates have risen, and they say their insurance went way up, so they stopped distributions. Also, I'm writing this at the end of July 2023, and they haven't given investors the annual tax document yet... where's my K1? They claim that a sponsor they work with isn't providing it. Naturally I'm hoping that I haven't lost my investment with them. And obviously I wouldn't invest with them again. Anyone else have a similar experience, or have more information about this?

I've done cash-out refis on two properties in Killeen, and in the process of doing a purchase, using Nathan at Prime Lending. Tell him I sent you! 512-582-7242

@Eric Lizama 6pm-9pm Feb 11 and Feb 25

Every other week at Billy Bob's... Search FB group  Fort Hood Area Real Estate Investor Meetup

I recently started using Hattaway. They seem ok, but I'm not 100% sure yet. I have some doubts.

Belton isn't as far as either Temple nor Killeen. Killeen prices (rent and sale prices) had been fairly stagnate for a long time, but have really taken off. It might be harder to find those cash-flowing properties. I don't think you should expect much cooling off in the TX housing market. I don't expect there to be any bubble burst, and too many people are moving to the area.

I recommend Jafet Navarro at 254-371-9073. Tell him I sent you!