All Forum Posts by: Ramez Qubain

 Minoan does charge you once they put in the order, so it is not for free. HostGPO charges you a fixed monthly membership fee. Also Minoan has so many companies to choose from which makes it confusing if you don't know the suppliers well.

I have a property that I am currently outsourcing its management to a property manager and was wondering if I can handle managing from afar. I signed up to rentredi for a test drive and saw an option where they offer an add on option, one for an emergency maintenance service for 15/unit/month and one for a  full coordination service for 25 /unit/month. I think this might be the trick for solving your issue. If you are a pro member, rentredi is for free otherwise it is 5 per month I think. 

 Thank you January 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $420,000

Bought this new construction Single Family Home fully furnished and turned it into AirBNB. It is not currently cash flowing due to the low down payment and the high interest rate, but bought it for appreciation, amortization and Tax savings. eventually it will cash flow and i will be able to benefit from that 4th dimension.

What made you interested in investing in this type of deal?

I liked this deal because of its close location to Duke Hospital, Duke University and to Downtown. it is in one of the safest neighborhoods in Central Durham. I liked that it is new construction so i don't have to worry about maintenance. Also i liked that it is 2 ensuite bedrooms which is perfect for Nurses, Digital Nomads and Corporate rentals.

How did you find this deal and how did you negotiate it?

I found it on Zillow but then sent my agent to take videos, pics and to have her tell me her thoughts. then i negotiated the price and reduced it by 20k and included the furniture.

How did you finance this deal?

i got a mortgage

How did you add value to the deal?

Not much other than listing it on Airbnb and managing it remotely

What was the outcome?

so far so good, i am getting 65% occupancy rate and am paying the fixed expenses.

Lessons learned? Challenges?

there was another house just like it offered in the same development. wish i bought it as well. The demand and reviews on the house is pretty good given its location and amenities

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes Clara Harrison from Urban Durham Realty. she is very energetic and quick in responding. she is also very diligent.

Hi Bigger Pockets Community, 

I have a business partner who wants to partner with me in buying a rental single-family home, however he has cash but no credit and i have credit but no cash. How would you suggest doing a Joint Venture deal that is fair to both parties and that is acceptable to the bank (conventional mortgage); i will be finding the property and will be managing it. Also for simplicity, let's assume there is no renovation costs involved. 

 Hi Gregory, i too would like to access the data in NeighborhoodScout but their subscriptions services are much more than what i need, even their entry level one. wondering if you have found an alternative?

 Have you used their services or only watched their videos? i loved their videos and i did contact them, but am worried as some have suggested that they pawn you off to juniors and that their response is very slow.

Thanks Emily for your feedback. for some reason this property has been delisted from the MLS. Whay would that be?