All Forum Posts by: Rommel Pascual

Did anyone that used @Mitch Messer company work? I have three properties in Georgia that doubled in property taxes and one to include sewe assessments. If so, please send the contact info my way.

Regards,

Rommel

I'm curious on how they broke down the $1200 fee. Would the fees be different if you had more rental properties? I too am looking to get professional help with my finances but I can't convince myself on the extra fees and its value.

 I was walking around in one of Las Vegas Casino and saw their poster as the conference was being held and was intrigued on what it was about so I came here to find out more. 

I checked out your FAQ and directly went to "How do you charge for your fees?" The subscription fees did not state what it includes nor have link to find out more. There are other services that you provide that have different fee structure but was really uncertain how each service was calculated. I personnaly am looking for more on how you would help my real estate portfolio and if it would be included in any of the subscription plan? I hope I was able to give you some helpful insight. Good Luck!

P.S. I'm a GGU FP student drop out and now regret it. 

 Thanks Wendy, I'm in touch with @Drew Sygit now and hoping he will be my champion. He sounds like there might still be some hope for me in investing in Warren, MI. It's seems to be a great cash flow potential property but yet to be seen.

I agree with everyone that is the reason why I got a PM. Unfortunately, I wasn't so lucky in getting a good one. Thanks for all the input. I'll reach out to some of the PM that responded to my post. 

Regards

Rommel

I am an out-of-state propery owner had invested in a property in Warren, Michigan and rented it out for several years. I bought it through Roofstock and assigned one of their PM partners. Through the years there were several major items that needed to be fix, HVAC, water heater, and some minor items. I asked my PM to raise the rent to recoup the cost and stay up with the market. It was against his advise but we did it anyway. Fast forward to today, the tenant had to be evicted after raising the rent and took 8 months to get the tenant evicted. We spent another 2 months and $20000 later to have it ready for rent only to find out the city tagged it as vacant and needs to get a City Certification from 5 inspector. This was the quote from my PM

"What happens when a city finds a house that was rented wo a license and or vacant like this they will only issue the c of o if they do an all trades inspection. To order the inspection some individual person that resides in the state of Michigan must sign for responsibility. Meaning they will have an individual to come and arrest (yes it's a legal issue) if the inspection is not completed to pass within the time frame allowed.
It is a risk for the person taking responsibility as if the owner doesn't have funds or comply the person that signs the affidavit is liable."

I'm open to suggetions since I'm out of state and can't sign for the certificate of inspection nor have anyone willing to do so. I'm also afraid there will be more findings = more money that needs to be fixed in order to get it rent ready.

Regards
Rommel

 Thanks for the input. I will have to look into it if I can't convince her to do a subject-to. I just like to be up front with her on the pitfalls. I think if I'm in the deal $40,000, I wouldn't want to default on the house either. I wonder how people list a property that is acquired on a subject-to deal on their financial statement. It's an asset without a liability. 

 According to How Subject-To Loans Work in Real Estate, "Buying a property "subject-to" means a buyer essentially takes over the seller’s remaining mortgage balance without making it official with the lender. 

How can a subject-to take my aunt's name officially off the mortgage? Are people doing subject-to deals tell the seller that they are still on the hook if payments aren't made. It feels like this is only good for the buyer and not the seller.