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All Forum Posts by: James Hamling
James Hamling has started 14 posts and replied 3801 times.
Post: Questions to ask on an 8-plex
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @Chris Kittle:
Quote from @Nicholas L.:
that's a big one to start with. not to say it can't be done, but it would be a lot if you've never owned anything before. have you looked into house hacking?
here are some questions off the top of my head. do you have a professional representing you? is it on market or off? why is the owner selling? how many units are occupied and how many are vacant? are the tenants in good standing or are some behind? are they on leases or month to month? are the rents at or below market? does it cash flow now? could it cash flow with rent increases? are rent increases realistic?
Thanks for those great questions! I am a busy W-2 professional with a paid off house so I'm not worried about where I'm going to live. I also don't have time to personally manage a complex like that but I have identified a property manager that charges 10% of rent to manage the units. He comes highly recommended and I have spoken to him personally and feel comfortable moving forward with him. As for your other questions:
It is currently on the market and has been so for several months
I don't have anyone representing me yet...trying to learn as much as I can before taking that next step with a realtor
I don't know why the owner is selling
I don't know the standing of the tenants
Rent appears to be at market
Assuming 10% vacancy rate, my calculations show that it would indeed cashflow.
Again thank you for posting those questions as those are some of the things that I need to ask the seller when I reach out.
I'm confused Chris....
You found a PM who's specialized to this exact market and property type. Highly rated and you feel great after connecting with them.
Why wouldn't you ask them to sit you down and give you the "download" on everything you should know to do this?
Ask them if $500 would be fair enough for a day or few hours of education.
If they are the quality PM you say they are, there is nobody who is going to know more or give it to you straighter then them.
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @Bob Stevens:
Quote from @James Wise:
Quote from @James Hamling:
Quote from @Bob Stevens:
Quote from @Ryan Arth:
@James Wise When reading his reply, my interpretation is that he is not providing "property management", in his opinion. The checks go to the owners directly, and he has a maintenance person and attorney on speed dial. So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). I wonder what happens when there is a turnover.
Not saying this is the case here, but whenever someone is promoting their opinion and shutting down naysayers, it feels like clients could be railroaded. The reason I think that is when it is coupled with his comments to call him if you are a cash buyer and that you never need an agent. That could be fine advice for some, but it also means no oversight. No bank, agent, survey, appraisal, etc.
And to your earlier point, the response has been taking the victim stance instead of just explaining the business model and why he uses a different name on BP than FB, FL legal records, etc.
All could be fine here, but this is a good exercise in due diligence and the value of this forum and community either way.
100% on the NOT being a licensed PM, I never was. I was just referring people to them which has stopped. I NEVER was part of the day to day. I believe I have explained in detail what and how I handle it. When there is turnover on client's prop, simple, have a REALTOR show it. My own props I handle it all.. I simply provide guidance.
JW should never have posted this, not cool at all. I have never had a negative remark about me posted anywhere. Now this, just terrible. I have watched him build his business over the last 10 years or so. I respect what he has done, I do NOT agree how but respect it. I would NEVER post the things I have heard about him and the amounts he charges. None of my business what he does. Why he is so intent on bashing me, not sure.
Again, EVERYONE I speak with knows exactly who I am, for goodness' sake they look at my FB and see my entire family, and my day-to-day life, I not hiding anything.
All the best
Really "Bob"??????? We all all know exactly who you are? HELL NO WE DONT!!!!
Because fact is your portraying to be one person here on BP, with a name here on BP, and from what I read REFUSING to answer to who in the F*%K you actually are. ANSWER THE QUESTIONS!
Because right here on Linked in is a person by different name, different business than you speak of commonly on BP, EXACT SAME FACE....... So, who the FlocK are you?????
Seriously man. They are pretty simple bottom of the barrel questions.
--- What is your real name? ANSWERED 10 TIMES!!! Prisco, EVBERYONE knows this as its ALL OVER my " life " in social media .
--- Are you legally allowed to provide the service your entire business is built around? 100%,, I do not collect rent, I simply coordinate maintenance and flip props.
--- Why does your story change every time you speak? NEVER CHANGED. Also, I now have something negative written against me 1st time ever, thanks to your BS. I feel it's time for me to provide you with the same kindness,
Good luck James,
No earth shattering inquiries here.
So why does your advertised Linked-in say a totally different thing Bob?
Here is a few lines of word-for-word what you are advertising:
"In other words, all they have to do is close on the carefully vetted properties we bring to them.
We provide property management, title, attorney and Insurance.
We even screen tenants, deal with the various gov’t programs and provide a 3 month rent credit on the HUD."
"To be 100% hands-off, while enjoying the passive income that hits their bank account every month."
https://www.linkedin.com/in/bobprisco/
None of this Bob is what your saying here on BP.
What you advertise reads of the Property Management company and Real Estate Brokerage, that's how it reads.
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @Bob Stevens:
Quote from @James Hamling:
Quote from @James Hamling:
Quote from @James Hamling:
Quote from @Bob Stevens:
Quote from @Ryan Arth:
@James Wise When reading his reply, my interpretation is that he is not providing "property management", in his opinion. The checks go to the owners directly, and he has a maintenance person and attorney on speed dial. So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). I wonder what happens when there is a turnover.
Not saying this is the case here, but whenever someone is promoting their opinion and shutting down naysayers, it feels like clients could be railroaded. The reason I think that is when it is coupled with his comments to call him if you are a cash buyer and that you never need an agent. That could be fine advice for some, but it also means no oversight. No bank, agent, survey, appraisal, etc.
And to your earlier point, the response has been taking the victim stance instead of just explaining the business model and why he uses a different name on BP than FB, FL legal records, etc.
All could be fine here, but this is a good exercise in due diligence and the value of this forum and community either way.
100% on the NOT being a licensed PM, I never was. I was just referring people to them which has stopped. I NEVER was part of the day to day. I believe I have explained in detail what and how I handle it. When there is turnover on client's prop, simple, have a REALTOR show it. My own props I handle it all.. I simply provide guidance.
JW should never have posted this, not cool at all. I have never had a negative remark about me posted anywhere. Now this, just terrible. I have watched him build his business over the last 10 years or so. I respect what he has done, I do NOT agree how but respect it. I would NEVER post the things I have heard about him and the amounts he charges. None of my business what he does. Why he is so intent on bashing me, not sure.
Again, EVERYONE I speak with knows exactly who I am, for goodness' sake they look at my FB and see my entire family, and my day-to-day life, I not hiding anything.
All the best
Really "Bob"??????? We all all know exactly who you are? HELL NO WE DONT!!!!
Because fact is your portraying to be one person here on BP, with a name here on BP, and from what I read REFUSING to answer to who in the F*%K you actually are. ANSWER THE QUESTIONS!
Because right here on Linked in is a person by different name, different business than you speak of commonly on BP, EXACT SAME FACE....... So, who the FlocK are you?????
Here ya go "Bob", directly from your advertised Linked-in CLEARLY saying you provide PM, NOT that you reefer someone off but CLEARLY saying YOU provide PM and all these other services.
So this is seeming a lot like a "oh shiit they caught me" freak out and demand to look away, just look away...... WTF "Bob", wtf!......
https://www.linkedin.com/in/bobprisco/
About
Thanks for taking a minute (or two) to read about what we do and why it might benefit you too :-)
At first glance, we might look like JUST another real estate investment firm.
A firm specializing in helping regular people (like us) achieve true financial freedom, reducing risk, maximizing passive income, and saving on taxes…
One that delivers 100% hands-off turn-key rental properties to our investors from around the globe.
(Turn-Key- meaning, they don’t have to deal with Tenants, Toilets, or Trash)
In other words, all they have to do is close on the carefully vetted properties we bring to them.
We provide property management, title, attorney and Insurance.
We even screen tenants, deal with the various gov't programs and provide a 3 month rent credit on the HUD.
You’d see a firm that believes in keeping all investors continually “in the know” about their investments.
And if that’s what you see, you’d be partially correct.
But by taking a deeper look, you’d see that we’re much more than that…
People choose us based on four main criteria…
✅ Relationships
✅ Accountability
✅ Integrity
✅ Transparency
It’s about operating with integrity to build trusting relationships, being transparent with both successes and failures, and taking ownership through accountability…
Focusing on taking care of our greatest asset, which is the people who choose to align with us.
We want them to be able to lie down at night and sleep like a babies because they know we have their best interest in mind and always working to proactively solve any issue that may arise.
To be 100% hands-off, while enjoying the passive income that hits their bank account every month.
Just as sure as the sun rises…
To the tune of double-digit net caps WITH equity.
We conduct extensive research to know which markets present the biggest opportunities, which reduces risk and maximizes upside.
And the best part?
We do ALL the grunt work so our investors have the information they need to make decisions based on actual data.
If you’re a person of integrity and would like to learn more about how we help create 100% hands-off passive incomes for our investors…
Shoot me a message & let's connect.
And marketing PM company on other profile: https://connectedinvestors.com/member/bob-prisco
which links to: https://5pointspm.com/
Correct how many years ago was this. I can't even remember when I was on that site. But who cares, YES marketing for them .
WTF, are you kidding me?!
James Wise called you out on ties/ownership in this PM entity, and you played word-salad games trying to pretend had no connections to it.
Now, I PROVE you are DIRECTLY tied to it and you say "who cares".....
I care. James Wise cares. I hope @Scott Trench and all of BP cares because you have been a FRAUD!
This is just mind blowing the extent of lies, distortion, manipulation.....
Your a direct threat to BP itself and EVERY post any of us have ever made Bob, because you desecrate any validity and legitimacy of the content and thus ALL of us contributing too BP. When you're a Con it presents a concept of image that we are all con's.
So that's who cares, anyone and everyone who has any stake of any size in BP and the content we have lent to BP, our reputations.
And again, it your responses to all this that makes it all SOooo much worse.
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @Bob Stevens:
Quote from @James Hamling:
Quote from @James Hamling:
Quote from @Bob Stevens:
Quote from @Ryan Arth:
@James Wise When reading his reply, my interpretation is that he is not providing "property management", in his opinion. The checks go to the owners directly, and he has a maintenance person and attorney on speed dial. So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). I wonder what happens when there is a turnover.
Not saying this is the case here, but whenever someone is promoting their opinion and shutting down naysayers, it feels like clients could be railroaded. The reason I think that is when it is coupled with his comments to call him if you are a cash buyer and that you never need an agent. That could be fine advice for some, but it also means no oversight. No bank, agent, survey, appraisal, etc.
And to your earlier point, the response has been taking the victim stance instead of just explaining the business model and why he uses a different name on BP than FB, FL legal records, etc.
All could be fine here, but this is a good exercise in due diligence and the value of this forum and community either way.
100% on the NOT being a licensed PM, I never was. I was just referring people to them which has stopped. I NEVER was part of the day to day. I believe I have explained in detail what and how I handle it. When there is turnover on client's prop, simple, have a REALTOR show it. My own props I handle it all.. I simply provide guidance.
JW should never have posted this, not cool at all. I have never had a negative remark about me posted anywhere. Now this, just terrible. I have watched him build his business over the last 10 years or so. I respect what he has done, I do NOT agree how but respect it. I would NEVER post the things I have heard about him and the amounts he charges. None of my business what he does. Why he is so intent on bashing me, not sure.
Again, EVERYONE I speak with knows exactly who I am, for goodness' sake they look at my FB and see my entire family, and my day-to-day life, I not hiding anything.
All the best
Really "Bob"??????? We all all know exactly who you are? HELL NO WE DONT!!!!
Because fact is your portraying to be one person here on BP, with a name here on BP, and from what I read REFUSING to answer to who in the F*%K you actually are. ANSWER THE QUESTIONS!
Because right here on Linked in is a person by different name, different business than you speak of commonly on BP, EXACT SAME FACE....... So, who the FlocK are you?????
Here ya go "Bob", directly from your advertised Linked-in CLEARLY saying you provide PM, NOT that you reefer someone off but CLEARLY saying YOU provide PM and all these other services.
So this is seeming a lot like a "oh shiit they caught me" freak out and demand to look away, just look away...... WTF "Bob", wtf!......
https://www.linkedin.com/in/bobprisco/
About
Thanks for taking a minute (or two) to read about what we do and why it might benefit you too :-)
At first glance, we might look like JUST another real estate investment firm.
A firm specializing in helping regular people (like us) achieve true financial freedom, reducing risk, maximizing passive income, and saving on taxes…
One that delivers 100% hands-off turn-key rental properties to our investors from around the globe.
(Turn-Key- meaning, they don’t have to deal with Tenants, Toilets, or Trash)
In other words, all they have to do is close on the carefully vetted properties we bring to them.
We provide property management, title, attorney and Insurance.
We even screen tenants, deal with the various gov't programs and provide a 3 month rent credit on the HUD.
You’d see a firm that believes in keeping all investors continually “in the know” about their investments.
And if that’s what you see, you’d be partially correct.
But by taking a deeper look, you’d see that we’re much more than that…
People choose us based on four main criteria…
✅ Relationships
✅ Accountability
✅ Integrity
✅ Transparency
It’s about operating with integrity to build trusting relationships, being transparent with both successes and failures, and taking ownership through accountability…
Focusing on taking care of our greatest asset, which is the people who choose to align with us.
We want them to be able to lie down at night and sleep like a babies because they know we have their best interest in mind and always working to proactively solve any issue that may arise.
To be 100% hands-off, while enjoying the passive income that hits their bank account every month.
Just as sure as the sun rises…
To the tune of double-digit net caps WITH equity.
We conduct extensive research to know which markets present the biggest opportunities, which reduces risk and maximizes upside.
And the best part?
We do ALL the grunt work so our investors have the information they need to make decisions based on actual data.
If you’re a person of integrity and would like to learn more about how we help create 100% hands-off passive incomes for our investors…
Shoot me a message & let's connect.
James not" caught" with anything, YES Provide/ Maybe should have used refer. ,(but do not see where it says provide) ) does not mean I do the day to day. I have never done the day to day. I intro and provide guidance. I have always referred PM. If I was such a " bad guy" would I have my entire life at everyone's fingertips? This is really getting ridiculous.
The EXACT word-for-word of your advertised statement is "We provide property management".
Are you seriously going to keep pretending all these simple fact's are NOT out in the open now?
W-T-F "Bob"......
You have been presenting a complete lie on BP this whole time and are acting like it's no big deal. It is a VERY big deal. It's shady as hell.
And your panicked refusal to answer to any of it, like your freaking NAME! What is so difficult in simple confirming your name, especially when it's so obvious and blatant.
But how about any explanation as to why all the cloak and dagger.
No, instead you attack JW for pointing this out.......
This is all so nutz at this point..... You've burnt up any potential of redemption with me at this point BECAUSE of your responses to all this. i was so hopeful you'd simply explain things. That's it, that's all you had to do, explain yourself.
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @James Hamling:
Quote from @James Hamling:
Quote from @Bob Stevens:
Quote from @Ryan Arth:
@James Wise When reading his reply, my interpretation is that he is not providing "property management", in his opinion. The checks go to the owners directly, and he has a maintenance person and attorney on speed dial. So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). I wonder what happens when there is a turnover.
Not saying this is the case here, but whenever someone is promoting their opinion and shutting down naysayers, it feels like clients could be railroaded. The reason I think that is when it is coupled with his comments to call him if you are a cash buyer and that you never need an agent. That could be fine advice for some, but it also means no oversight. No bank, agent, survey, appraisal, etc.
And to your earlier point, the response has been taking the victim stance instead of just explaining the business model and why he uses a different name on BP than FB, FL legal records, etc.
All could be fine here, but this is a good exercise in due diligence and the value of this forum and community either way.
100% on the NOT being a licensed PM, I never was. I was just referring people to them which has stopped. I NEVER was part of the day to day. I believe I have explained in detail what and how I handle it. When there is turnover on client's prop, simple, have a REALTOR show it. My own props I handle it all.. I simply provide guidance.
JW should never have posted this, not cool at all. I have never had a negative remark about me posted anywhere. Now this, just terrible. I have watched him build his business over the last 10 years or so. I respect what he has done, I do NOT agree how but respect it. I would NEVER post the things I have heard about him and the amounts he charges. None of my business what he does. Why he is so intent on bashing me, not sure.
Again, EVERYONE I speak with knows exactly who I am, for goodness' sake they look at my FB and see my entire family, and my day-to-day life, I not hiding anything.
All the best
Really "Bob"??????? We all all know exactly who you are? HELL NO WE DONT!!!!
Because fact is your portraying to be one person here on BP, with a name here on BP, and from what I read REFUSING to answer to who in the F*%K you actually are. ANSWER THE QUESTIONS!
Because right here on Linked in is a person by different name, different business than you speak of commonly on BP, EXACT SAME FACE....... So, who the FlocK are you?????
Here ya go "Bob", directly from your advertised Linked-in CLEARLY saying you provide PM, NOT that you reefer someone off but CLEARLY saying YOU provide PM and all these other services.
So this is seeming a lot like a "oh shiit they caught me" freak out and demand to look away, just look away...... WTF "Bob", wtf!......
https://www.linkedin.com/in/bobprisco/
About
Thanks for taking a minute (or two) to read about what we do and why it might benefit you too :-)
At first glance, we might look like JUST another real estate investment firm.
A firm specializing in helping regular people (like us) achieve true financial freedom, reducing risk, maximizing passive income, and saving on taxes…
One that delivers 100% hands-off turn-key rental properties to our investors from around the globe.
(Turn-Key- meaning, they don’t have to deal with Tenants, Toilets, or Trash)
In other words, all they have to do is close on the carefully vetted properties we bring to them.
We provide property management, title, attorney and Insurance.
We even screen tenants, deal with the various gov't programs and provide a 3 month rent credit on the HUD.
You’d see a firm that believes in keeping all investors continually “in the know” about their investments.
And if that’s what you see, you’d be partially correct.
But by taking a deeper look, you’d see that we’re much more than that…
People choose us based on four main criteria…
✅ Relationships
✅ Accountability
✅ Integrity
✅ Transparency
It’s about operating with integrity to build trusting relationships, being transparent with both successes and failures, and taking ownership through accountability…
Focusing on taking care of our greatest asset, which is the people who choose to align with us.
We want them to be able to lie down at night and sleep like a babies because they know we have their best interest in mind and always working to proactively solve any issue that may arise.
To be 100% hands-off, while enjoying the passive income that hits their bank account every month.
Just as sure as the sun rises…
To the tune of double-digit net caps WITH equity.
We conduct extensive research to know which markets present the biggest opportunities, which reduces risk and maximizes upside.
And the best part?
We do ALL the grunt work so our investors have the information they need to make decisions based on actual data.
If you’re a person of integrity and would like to learn more about how we help create 100% hands-off passive incomes for our investors…
Shoot me a message & let's connect.
And marketing PM company on other profile: https://connectedinvestors.com/member/bob-prisco
which links to: https://5pointspm.com/
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @James Hamling:
Quote from @Bob Stevens:
Quote from @Ryan Arth:
@James Wise When reading his reply, my interpretation is that he is not providing "property management", in his opinion. The checks go to the owners directly, and he has a maintenance person and attorney on speed dial. So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). I wonder what happens when there is a turnover.
Not saying this is the case here, but whenever someone is promoting their opinion and shutting down naysayers, it feels like clients could be railroaded. The reason I think that is when it is coupled with his comments to call him if you are a cash buyer and that you never need an agent. That could be fine advice for some, but it also means no oversight. No bank, agent, survey, appraisal, etc.
And to your earlier point, the response has been taking the victim stance instead of just explaining the business model and why he uses a different name on BP than FB, FL legal records, etc.
All could be fine here, but this is a good exercise in due diligence and the value of this forum and community either way.
100% on the NOT being a licensed PM, I never was. I was just referring people to them which has stopped. I NEVER was part of the day to day. I believe I have explained in detail what and how I handle it. When there is turnover on client's prop, simple, have a REALTOR show it. My own props I handle it all.. I simply provide guidance.
JW should never have posted this, not cool at all. I have never had a negative remark about me posted anywhere. Now this, just terrible. I have watched him build his business over the last 10 years or so. I respect what he has done, I do NOT agree how but respect it. I would NEVER post the things I have heard about him and the amounts he charges. None of my business what he does. Why he is so intent on bashing me, not sure.
Again, EVERYONE I speak with knows exactly who I am, for goodness' sake they look at my FB and see my entire family, and my day-to-day life, I not hiding anything.
All the best
Really "Bob"??????? We all all know exactly who you are? HELL NO WE DONT!!!!
Because fact is your portraying to be one person here on BP, with a name here on BP, and from what I read REFUSING to answer to who in the F*%K you actually are. ANSWER THE QUESTIONS!
Because right here on Linked in is a person by different name, different business than you speak of commonly on BP, EXACT SAME FACE....... So, who the FlocK are you?????
Here ya go "Bob", directly from your advertised Linked-in CLEARLY saying you provide PM, NOT that you reefer someone off but CLEARLY saying YOU provide PM and all these other services.
So this is seeming a lot like a "oh shiit they caught me" freak out and demand to look away, just look away...... WTF "Bob", wtf!......
https://www.linkedin.com/in/bobprisco/
About
Thanks for taking a minute (or two) to read about what we do and why it might benefit you too :-)
At first glance, we might look like JUST another real estate investment firm.
A firm specializing in helping regular people (like us) achieve true financial freedom, reducing risk, maximizing passive income, and saving on taxes…
One that delivers 100% hands-off turn-key rental properties to our investors from around the globe.
(Turn-Key- meaning, they don’t have to deal with Tenants, Toilets, or Trash)
In other words, all they have to do is close on the carefully vetted properties we bring to them.
We provide property management, title, attorney and Insurance.
We even screen tenants, deal with the various gov't programs and provide a 3 month rent credit on the HUD.
You’d see a firm that believes in keeping all investors continually “in the know” about their investments.
And if that’s what you see, you’d be partially correct.
But by taking a deeper look, you’d see that we’re much more than that…
People choose us based on four main criteria…
✅ Relationships
✅ Accountability
✅ Integrity
✅ Transparency
It’s about operating with integrity to build trusting relationships, being transparent with both successes and failures, and taking ownership through accountability…
Focusing on taking care of our greatest asset, which is the people who choose to align with us.
We want them to be able to lie down at night and sleep like a babies because they know we have their best interest in mind and always working to proactively solve any issue that may arise.
To be 100% hands-off, while enjoying the passive income that hits their bank account every month.
Just as sure as the sun rises…
To the tune of double-digit net caps WITH equity.
We conduct extensive research to know which markets present the biggest opportunities, which reduces risk and maximizes upside.
And the best part?
We do ALL the grunt work so our investors have the information they need to make decisions based on actual data.
If you’re a person of integrity and would like to learn more about how we help create 100% hands-off passive incomes for our investors…
Shoot me a message & let's connect.
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Real Estate Broker
- Minneapolis, MN
- Posts 3,948
- Votes 5,107
Quote from @Bob Stevens:
Quote from @Ryan Arth:
@James Wise When reading his reply, my interpretation is that he is not providing "property management", in his opinion. The checks go to the owners directly, and he has a maintenance person and attorney on speed dial. So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). I wonder what happens when there is a turnover.
Not saying this is the case here, but whenever someone is promoting their opinion and shutting down naysayers, it feels like clients could be railroaded. The reason I think that is when it is coupled with his comments to call him if you are a cash buyer and that you never need an agent. That could be fine advice for some, but it also means no oversight. No bank, agent, survey, appraisal, etc.
And to your earlier point, the response has been taking the victim stance instead of just explaining the business model and why he uses a different name on BP than FB, FL legal records, etc.
All could be fine here, but this is a good exercise in due diligence and the value of this forum and community either way.
100% on the NOT being a licensed PM, I never was. I was just referring people to them which has stopped. I NEVER was part of the day to day. I believe I have explained in detail what and how I handle it. When there is turnover on client's prop, simple, have a REALTOR show it. My own props I handle it all.. I simply provide guidance.
JW should never have posted this, not cool at all. I have never had a negative remark about me posted anywhere. Now this, just terrible. I have watched him build his business over the last 10 years or so. I respect what he has done, I do NOT agree how but respect it. I would NEVER post the things I have heard about him and the amounts he charges. None of my business what he does. Why he is so intent on bashing me, not sure.
Again, EVERYONE I speak with knows exactly who I am, for goodness' sake they look at my FB and see my entire family, and my day-to-day life, I not hiding anything.
All the best
Really "Bob"??????? We all all know exactly who you are? HELL NO WE DONT!!!!
Because fact is your portraying to be one person here on BP, with a name here on BP, and from what I read REFUSING to answer to who in the heck you actually are. ANSWER THE QUESTIONS!
Because right here on Linked in is a person by different name, different business than you speak of commonly on BP, EXACT SAME FACE....... So, who the FlocK are you?????
Post: What to do with a property that has too much equity?
- Real Estate Broker
- Minneapolis, MN
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@Josh R. there is another option, one that would raise you're ROI too infinite, eliminate that finance rate too 0%, and via reduction in $-expense, increase cash-flow.
All it requires is to not be greedy....
Your sitting at about 40% equity position. So vs buying other $, which is what finance is, it's purchasing $, how about you help solve a problem many have out there of a good, solid place for capital placement.
No, I am not saying syndicate but reality is that's where the big-$ is made, when you unlock OPM at scale. So how about you SELL the equity to a minimum # of other "passive" partners?
For example, sell too 10 "partners", each comes in at $65k, each receives 6% equity stake.
Remember when I said all it requires is to not get greedy; some would see this and obsess on being at "only" 40% ownership now and completely ignore the fact of how all that math plays out in this.
You would now be free & clear of any debt service and the expense impact of such. You can fairly collect some form of compensation for being the managing member. Everyone wins. Except the bank, they loose, because now your partners and you are getting what $ they would have sucked out of it.
If you can get over the mental thought that you "gave away" 60% and look at the math, what the math does, I think it will blow your mind. Grant Cardone "10X" blow your mind.
And now your building a community and reputation with the BEST finance-$ there is, PRIVATE-$. Where terms are per discussion and peer-2-peer negotiations.
And once set, this shifts the focus to rinse and repeat, finding the next value-add potential and making magic happen again.
What would life look like for you Josh if you did just 10 of these properties, in grand total, and stopped there. And had "only" 40% equity stake, partners with the other 60%, but via doing value-add each is at or near infinite rate of return (ie zero or near 0 capital into it personally).
What does that income picture, and time-line to complete 10, look like vs holding onto 100% and "paying the bank" as your sole "partner"..... Which is more quickly achieved? By how many years? Or better said, by how many decades of difference is it?
Post: Fed cuts rates by .5%
- Real Estate Broker
- Minneapolis, MN
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@V.G Jason we are now into a place where Fed actions are arguably one of the smallest impactors on economic immediacy and near term future.
If Fed Dept of Edu is effectively ended sending all back into hands of the States, all the industry built around such sector is completely disrupted and how does that play out? Personally I am a fan of this but still, it will be an industry disruptor.
Next, if U.S. goes "OPEN FOR BUSINESS" on oil and gas, that changes everything. Imagine if actions were done to replace RU as the #1 O&G exporter supplying Europe. This is one ball in play up in the air right now.
Next we have actions to on-shore US manufacturing industry by eliminating foreign advantages in trade (this is where tariffs come into things) and forcing foreign business to invest in US domestic operations.
And so far none of this is theory or banter, these are campaigned items of promise so, very real potential at realizations.
And than the Grand-daddy of them all, eliminating federal income tax.... Holly cowabunga would that change everything. And I believe it's BRILLIANT because fact and reality is this system no longer works at all. We have added layer upon layer of complexity to keep it working, to the point now where it's a mess that nobody even those administrating it get anymore. The savings in operating the federal government alone from elimination and moving to any of the simplified systems such as national sales tax etc, and the savings to everyone out there......
Not to mention one factions constant talk about "pay your fair share", well ok, that's an easy way we get there, the person buying cans of tuna pay pennies and those buying tins of caviar are paying tens of dollars per, that is a common sense SIMPLE "fair" allocation.
And that would be a MASSIVE income boost to the middle class who's been slaughtered the past decades.
All of these are in play and more. Any number of them is a massive disruptor. Together, it alters the landscape so much it's hard to wrap the mind around.
The biggest factor in what things will be in coming months and years will be which of these are actually executed upon.
Fed rate is a drop in the bucket in contrast to all these items now in play.
I see the stock market entering a cycle of massive swings because of industry impacts from such changes, both positive and negative. Than the assorted $ chasing those massive shifts, and working to anticipate the next in there trades. A true wild-west for wall-street where it's very possible the biggest players and winners will look more like RoaringKitty than the Claus Schwab's. And thus just another disruptor factor.
Post: New Member Intro. Where do I start?
- Real Estate Broker
- Minneapolis, MN
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There is a lot of options @Matthew Christofferson. Beyond people randomly barking out random potential strategies, I can clarify that there is no less than half a dozen very viable strategy potentials in this specific area.
So the weight of selection really comes down to you, what you most want to do, strive towards etc..