All Forum Posts by: Nat Rojas

No Bias. My Goal is to hear your unfiltered thoughts and immediate reactions. Any and all comments would be greatly appreciated.

Please see Image below:

The above is the Turnover Management Process and is the Standard timeline for basic turnover services for a Property Management Company.

My main concern is the time it takes to turnover a property. Should this be a concern? Is this a standard timeline across PM's? Across locations? Across price points & property types?

What I've shared is purposely vague as I don't have specific questions and am more interested in your reactions, thoughts and personal anecdotes so I can better understand and appreciate the timeline.

Again, any and all comments would be greatly appreciated.

 @Joe Norman 

These are great points, Joe! Thanks for the response.

Seems like there is a full spectrum for "Vacant". I've definitely seen properties that when you look at the upstairs windows, you actually see the sky! Makes me question how long the roof has been missing. Let alone, those that have trees growing inside the property.

To better understand your mindset - a hypothetical: Should there be structurally unsound homes at one end of the rowhome block (opposite end of the subject property to purchase) or even across the street (both of which have no physical impact on your home), does this mean you'll continue with your due diligence and potentially purchase the property?

In other words - No physical impact to the house = it's fair game?

How do you feel about the vacant (boarded up) properties in Baltimore City?

What is your rule about purchasing a BRRRR / Buy and Hold / Rental Property with vacants nearby?

What meets your criteria and what is acceptable for you - 1 Vacant on the block? 2 Vacants as long they're not next to the subject property? If it's across the street it's okay? Doesn't matter how many vacants as long as the numbers work?

 

"High tax" or Capital Gains tax if you sell it in that timeframe. Keeping the property as a rental will allow you to maintain a low rate low term note.

How long is the lease? Renewed yearly?

$0 for vacancy, maintenance and management fees. Not sure I feel to confident with this at first glance.

I'd recommend paying yourself if you're self managing as it's time/energy and (i'm assuming) at some point in the future, you'll hire a PM?

Tenant handles repairs so the rental income is lower to compensate?

$61K cash needed for $49K purchase price? 12K in closing costs? Did I capture that correctly?

Do you have a specific question in mind?

Numbers look great compared to my market. Is this an average deal or great deal in yours?

Any immediate repair costs that will coincide with your down payment?

I'm assuming this is turn key / rent ready. If so, I like the 10% in both repairs and cap ex.

Where did you get the rental income amount from?

Hi Team!

What local banks would you recommend that are currently offering Business Lines of Credit?

Any tips/recommendations on who to connect with nationwide?

General tips or experiences to share in working with Business LOC?

@Justin Munk

@Justin Munk

@Bill Brandt

Couldn't agree more!!

@Abby Weinstock

Extremely interesting! Can't tell you how much I appreciate you digging to this degree. I followed the steps and found an Amendment filed: 3/10/2021 8:44:42 AM. The Acknowledgement Number link provides an error message:

       "Error View Document: Unable find document for Acknowledgement Number : 1000362013112133 There was a problem with the requested action. Please try again, if the problem persists please contact Customer Support"

However, the deed reference to that line item provides a Deed of Ground Rent document dated: 24 Jan, 2020.

Is that the document that states ground rent is registered?

If so, I'll most certainly provide this to the team!

If not, what is the doc that states ground rent is registered?

Or better yet, what would it look like if it was not registered?