All Forum Posts by: Robert D Dismukes

@Rachel Perl Has your agent given you any feedback on the reactions from your possible buyers? It might be worth sticking a security camera in the house and a couple of places to try and pick up some feedback from prospective buyers. You might catch a wife saying the kitchen is hideous and then catch the same wife saying she love the bathroom for a specific reason or another.

@Chris C.I. The past 6 months , Ive done two syndications. $100,000 would bring you approximately $400 passively per month and roughly $50-60k in depreciation in the form of a K1 . I couldn’t be happier with mine . I am currently looking at joining two more with the same group . I also own 18 doors myself and one more in the pipeline. So I’m on both sides of the fence . Generally I say syndication, but do what works for you . ALWAYS do your on research !

@Rudy Ferrara I’m perfectly fine with that. I get at least 10 to 15 calls a day asking me if I’m interested in selling any of my houses. I have to answer the phone a lot of times because it shows up as a normal number. But the time that it cost me to stop what I’m doing an answer a phone is ridiculous. I hope they ban wholesaling altogether.

I even get wholesale calls that ask for the person I sold the house to just because my name and number was associated before with that house. And examples of that for a house I sold to a guy four years ago and I just got a phone call about a week and a half asking for him using my number.

Ive had the BP app for years and my wife wanted to get too. Problem is that we can not find it in the App Store anymore. Is it gone or renamed ?

@Zachary Jensen. You got on this business to increase your income and provide less taxable passive income . She needs to understand that this is a business. Taxes go up , insurance goes up , and materials and labor . Rents must go up. Make a deal with her , if you’re house not hoes up , the rents will have to go up. Theres no Mrs Nice gal , just Business Gal. Took my wife 3 months to figure it out. If you can’t convince her , your Landlord career may be short lived and left as a blah conversation at the bbq grill . Gltu

@Dolly Marketakis you’ll be fine for your first few units without an Llc . But eventually you’ll need to convert over. Don’t bank with national banks. Use a small local one. They can bend rules , not break when it comes to lending. Big box banks have very tight guidelines. You do need read or listen to a few books on tax suggestions and strategies . Definitely benefits to a Llc.

@Alex Duarte CYA ! Initiate gettting them out . But, just to sweet talk them out , let them know you’re going to rehab and after youre completed that they could “apply “ . Just conveniently rent to someone else . Odds are you’ll get them out a lot easier that way . When you file eviction, need to include the tenants name along with “and /or occupant “ . That’ll cover whoever else is there.

@Zeshan Choudhryclass c property’s are going to be tough to finance unless you have a significant amount of equity. IMO you’d be better out purchasing, then rehab and finally refi. Be careful on shopping for one , a lot of units have had older , good looking pictures posted ( at least to me ) and when we look at it , were like ehhhhh. So if you’re super serious on one , get that passport stamped !

@Rajiv Chawla a good contractor will be backed up for months. We still backed up. IMO it’s a contractors market right now. Don’t finally get a good one to be responsive to you and then jerk him around on pricing. They’ll never call you back. Gltu

@Arthur Neves Crestcore does terrible maintenance at the owners expense. And I mean it’s like they don’t know wtf they’re doing and learning on your dollar . Ohhhh the pictures I’ve taken correcting thing behind them. I bought a complex they managed. Couldn’t fire them fast enough. And I’m local. I feel soo bad for out of state investors that use them. The only good thing I can say is I bought a diamond property they managed because they broke the previous owner and I got a deal !