All Forum Posts by: Sachin Amin

@Christopher Sineno - this unit just has been nightmare  since the procurement. May be because we  just have never experienced  this kind of -ve burn rate with our existing  Turnkey providers till date. At this point with the limited tenure of lease not sure if we can get anything out. we are seeing every month there has been a appx $500 expense. I hope that stops now as all the issues should have remediated and we should see the rents coming from next cycle. 

But yes we are done with this unit as my lenders all they care about is their monthly payments and this unit has not generated even signal $$ yet after new tenant and we are burning reserves to just sustain. and as discussed on various calls the only last option is to cash out when the unit is empty so we can target first time home buyers in that area. (at least that's what I was told would get us desired price)

@Jonathan Greene - I think they picked the tenant I am sure they had screening and background check in place but we will definitely take note for our future investments that we have a say and review the background check application.

we are closely monitoring this unit and area but mostly have decided to exit this location by next year. Memphis, Arkansa, Jacksonville, Maryland have been top performers on our portfolio...

@Marc Rice

They are a turnkey provider and have everything in house ( rehab team , PM, realtors etc)

https://freedomrealestategroup.com

We purchased in 2019 but just did not work out. We have a new tenant in place so let’s see!!

Just wanted to check other investors experience

Wanted to check other investors on how their journey went with freedom real-estate group. we had purchased a unit for 99k with $1000 rent - which looked very promising at that time. But since procuring this unit, it never performed in reality. we had civil fines, followed by an eviction and a $10,000 rehab(because the tenant has caused some serious damages) and continue to burn with expense of some or the other way...($500 / month -expense related to  swage line , appliance one or the other every month eating up the rent)

wanted to see if any other investors having similar issues with Freedom group. 

I am in wait list with MidSouthHomeBuyers since 2019 :) ..they said i am still 2-3 months away. i am just amazed with the demand or is it just the hype - we will know soon once i make first deal with them.

@Jeff Ashachik - i did research Belize - its  a shady area and i would keep out till i find a property manager on ground and i meet him in person, go visit few neighbourhoods - till then i would say stay away from out of country investments.

@So Da right now the RE market is hot and i just sold one of my unit becuase they offered me a price i could not refuse :) - cash out when you can :-) 

Thank you all for great insights!!!

@Scott Mac - wow!!! congratulations ;)