All Forum Posts by: Robyn J.

I haven't been on BP in a long time. But since just this week I rcvd an email notice from my property mgr. Andrew & then yesterday I received the City of Toledo letter (ha rcvd 6 21 22 with a deadline of 6 30 22) I decided I would see what the scuttle is on BP.  First off I been working with Andrew on deals before he got his license & have 100% faith in Andrew & team to do all preventative measure before the inspection on the one house we own in OH which is in Toledo.  Everything else we have across the country are notes. 

I find the whole situation typical for a government entity.  Here it is 2022 & the city where I would guess over 50% of SF/MF was constructed long before 1978, is just now getting concerned about lead.  Wait another 25 years & most houses will have been painted over anyway.  

My best to all you local investors, managers, etc.

It is very unfortunate that the real estate downturn had to come about because of some global virus. But here in Texas I have been saying for a couple of years something will happen. Our markets have been ridiculously high. I've been hoarding my cash. I'm a note buyer (P, NP, reP) & I try to help my borrowers stay in their home. This is a crazy time with so many that are or will be out of work, the debt going beyond belief (thanks we get to pass that down to our grand kids faster now), and who knows what else will happen. It is what it is. We must work together. Stay healthy everyone.

@Matthew

@Matthew John Have you considered making an offer with the seller financing the deal? He will end up with more than what you will offer with 3rd party financing.

Recent foreclosure for sale. Vacant. Needs rehab. We are lender that foreclosed. Make offer.

V

ery clean ready to rent at $690/mo

. 2/1/1 in desirable Firestone Park. Has great man cave basement. Detached garage. New bathroom. Seller will offer seller financing to qualified investor or homeowner. 

 Jason - would you mind sending me a PM for your property mgr; assuming your still liking them.

He Jack - I would like to hear here or PM with your stay away from names. I know of one. I'm looking for a new property manager. Have one SF in the Firestone Park area. On market to sell but if not sold soon we will throw into rental pool.

Thanks.

I'm not an attorney but we have sold "turnkey" rentals several times. In fact we have several for sale now. Buyer will be another investor. He/she wants that tenant because it is cash flowing the day they purchase. The states we have dealt in say that the buyer has to assume the lease. I would guess you could negotiate buying your tenant out but I don't see why you would. The problem we run into is the typical realtor (if your listing) doesn't understand the added value rental income has to the property & they always try to use retail comps. 

You all should check out Tim Cook's meetup. Its West DFW REI group. I can't post any more than that on this link. Feel free to email me - check out my bio for the email.

We have done well in Ohio starting with NP notes. Now they are loaded rentals with great 3rd party mgmt; they are for sale now because we are not in the landlord business; we like holding the note. 

I would agree the key anywhere in the US is have a reliable 'boots on the ground contact'.  The key is make your money on the buy side. If you buy the NP note at a good enough discount the inside can be a wreck. Like all real estate you will lose some money from time to time.