All Forum Posts by: Mike Ferguson

Looking for recommendations for property manager for SFH in Jacksonville, NC.

@Reid Chauvin

Thank you for responding! that’s a much better way of wording it, whether or not refinancing an investment property would in itself create a roadblock on getting a mortgage for a primary residence in the near term.

Not being familiar I’ve always gone on the assumption that lenders are suspect of someone with new loans who hasn’t established a steady payment history for ‘x’ amount of time.

When taking out a conventional mortgage or refinancing, how much does elapsed time affect credit worthiness on your next loan? For instance, you refinance a property, what would a lender consider a sufficient cooling off period before taking out another mortgage, if any? Assuming all other lender criteria are met.

@Brandon Montgomery

That works for me, just DM me for the particulars.

@Connor Woods @Brandon Montgomery @Luke Lawrence @Hunter Linn @Robyn Guest

I can do lunch Monday-Friday with a couple days notice.

@Brandon Montgomery

Would also love to meet any real estate minded folks in Tuscaloosa area. Happy to share knowledge and hopefully gain some in return.

Two part question: 1. Is the plumbing company liable? 2. Should I find a new property manager?

Situation:

Renting out a 3 bd, 2 bath SFH in North Carolina. Around September the grinder pump for the septic failed, the house is about 20 y/o and it's the original pump as far as I know so i replaced it with no questions asked.

About 8 months later, the pump failed again.

The PM office tells me the original installer refused to come back out, and said it “wasn’t his problem”, and then stopped returning their calls.

Property manager has new company replace the pump. New company cites improper wiring, rocks not cleared from pump area, and did not think it was caused by tenant.

PM office basically says “nothing we can do” as far as recouping cost. I tell them it’s unacceptable that they’re using lack of communication with a large company with an office in the same town as an excuse and just giving up.

After we agree to make a claim in small claims court, the property manager is finally able to get ahold of the plumbing company who offers to pay 1/3 of the cost to avoid court.

That’s where we’re at currently. Is the plumber liable? Am I asking too much of my property management to be more aggressive in dealing with this matter?

I am interested.

Hey everyone, I'm an Alabama native myself, and love the idea of owning multi-family property in a place like Tuscaloosa. I'm browsing properties online for a few different central Alabama locations, but I dont think I'm gonna be able to find a true  deal until I'm back home in person this fall. Does anyone have any personal experience dealing with the college kids in this area, good bad or ugly?

@Rob Drum Right now I'm looking at Hoover, Calera, and Prattville, maybe Tuscaloosa... You're absolutely right on the cash flow... The SoCal markets are as high as they've ever been.... makes you wonder how much higher they can go before crashing.