All Forum Posts by: Sam Green

I am not questioning Pinnacle, as much as you. I think there are many ways people would do things differently if they were owners. There is a reason that the company has generated an investigation.

That said, I think you've got the quote of the month here. "THE MINUTE U TAKE YOUR $$ AND PUT IT IN ANYONE ELSES HAND, U ARE ALREADY AT RISK"

So you're saying that Pinnacle is providing risk-free investing, and everything else is a risk?

That is the most nonsense I've ever heard. If you're going to post, please post something useful. Saying things like that is just ignorant.

Last thing - its rude to type in all CAPS in forums, or emails. It is not that hard to hit the caps lock button and type normally.

I just noticed this new area to the forums. This shouuld come in hand in the future. I love that you guys keep adding to this site. This do it yourself area is a great addition.

Thanks for the advice. I'd like to hear what others thin about this as well. Can the manager put a lien on my property if I don't pay?

Hi. I'm having serious problems and need help. I've got a few properties out of state which are being operated by a management company. Here are some of the problems:

1 - My contract with the manager states that they can't spend more then $100 on repairs/expenses without my permission. I just got an invoice for the last month with 6 items costing over $100 - some up to $250. I'm livid. I've spoken to them in the past regarding this and they promised to contact me in writing or by phone anytime there was an issue that cost more then the $100. They have not attempted to contact me about any of these problems.

They've violated our contract. I wouldn't have necessairly approved these repairs and they had no right to spend this money on my behalf. What should I do? Should I get a lawyer? Can I get damages? Should I call them and confront them?

GET THIS: One of the charges was for $165 to remove vines from a sidewalk.

2 - Less important - they have been terrible at finding tenants for my properties. I've had vacancies for months now, and they can't get me a tenant. In addition, they are advertising in some magazine without asking me. They are spending $100 for every 3 weeks worth of ads. Up to now they had been advertising in the paper for much less. Either way, they are still not filling the empty units.

Sadly, this is one of the best rated companies in the area and comes recommended.

I need help. Please give me some advice.

Have you run the analysis through the property analysis tool? ( http://www.biggerpockets.com/recritic.html ) You need to account for all expenses when calculating cash flow. As for percentage on returns - I do not know of a formula on that. There may be one, but I don't have it. Maybe there are others who can fill you in a bit more here.

I think it all goes to mental state. What a lot of people do when they can't pay their bills is to ignore them. The bills stack up and they go into a state of denial. Instead of making rational decisions, they wait things out hoping life will improve. The problem is that it will not improve if they're ignoring their misfortunes. Although a solution exists (selling), they keep waiting until there is a Notice of sale posted on their door.

I'm not an expert in the area, but I can offer some advice. First, for section 8 info and resources go to http://www.biggerpockets.com/section-8-hud.html As far as I know, anyone can purchase and own a section8 property. I don't know if you can boot a section 8 tenant for another tenant, but why would you want to do that. If you're getting your monthly rent check from the government, what would inspire you to put a new tenant in?

You know that Michigan has had the slowest home price growth over the past year. What is it that is attracting you to invest in Saginaw? I've heard of a few people here talking about it there. Fill me in!

- Wait for the overpriced homes to fall
- Wait for foreclosures to pop up like ragweed
- Look out of state for reasonable properties
- Figure out where growth will take place and buy in the direction of growth

Have you looked at local Real estate investing clubs? The clubs will have experts speak about topics like those you've mentioned. Jersey clubs can be found at http://www.biggerpockets.com/real-estate-clubs/newjersey.html I know a few people who took good classes at the Learning Annex. You can also look at local colleges for classes.