All Forum Posts by: Samuel Fletcher Hardy

 Hey Ms.Caroline, thank you for replying! 

The agent is a good guy and means we'll but isn't as acute as I've grown accustomed to and his interactions 3rd party individuals rather its a tenant neighbor or appraiser when representing me make me cringe at times. Ultimately we are going to finish out this transaction and try to bring the sellers to our preferred realitor for the next round. 

I have cash for keysed before but never thought of incentiving during this stage of things!

 Hey Michael, I appreciate the feed back. I am very familiar with our tenant landlord laws in alabama and understand our laws and requirements around posting notice as a landlord. 

In my contract it states that we are to have access to the properties through our due diligence period during normal business hours with the stipulation we give the sellers 48 notice. It states nothing about tenant notice anywhere. The question is does that constitution permission from the sellers  to take appropriate actions to access the units. 

Our resolution was a member of my staff is directly coordinating and attending the posting of notice by the property managers. We have other rehabs on the same block so its not an issue.

Hey guys, I am currently under contract to buy 3 sfh's out of a larger portfolio. We are using this aqucition to "date" the sellers and agent, before potentially buying larger quantities(10 home+) at a time. 

We own multiple other homes in the same neighborhood these are distressed homes and we have brrred several here already with the same lender we are using now. 

I am running into issues getting access to the homes for inspections, appraisals, ext. tenants claiming not to receive notice Property management saying they did it. Property management apparently doesnt have keys to units!? The realitor handing the transaction isnt my go to rockstar but he is the one who brought me the deal there for he gets the business. He isn't on top of things paper work errors, communication issues, generally knowledge lacking, and not being prepared.

What are my options? Communication is our largest problem at 3 homes at 10 homes it will be way worse. 

Can my team directly cordinator with tenants? If i cant access Property during due diligence process what do we do? Do I fire this realitor for the next round of aqucitions and bring in my preferred realitor? 

Hey guys!

Some background
My wife and I(both 25) have recently liquidated some assets($50k) due to relocating across country and have decided to sell our triplex for a $200k-$300k profit. We also make $4000 a month and $10k-$25k two times a year. We are extremely frugal and have no consumer debt. My wife is a stay at home mom now(we have a 2 month old son!!!) and I am currently going to college(GI bill).

We have other rentals and plan to continue to invest in sfh's but this is going to be 65%ish of our net worth liquid all at one time.
With the rest in super conservatives retirement funds,  a split family business in Seattle, and other real estate.

My thoughts on how to move forward.
We have purchased $20k in livestock(registered black angus) for personal use more than anything
We plan to invest $50k into a small business we own that would push the $10-25k to $50k or greater
We need to finish about $35k in rehabs

To pay off all properties would cost $140k(not really considering it)




We are finally at a point in life where saying "what do we have to lose "  is not an option anymore and we need to protect our capital better. Any advise is very welcome! 

Hey guys,

Some background on myself first. I am a 25 year old disabled veteran who has successfully ran his own construction company for 5 years before selling it and moving across country and was mentored by a BP guest in Washington prior to moving and have another one that I am just starting to work with now in Alabama. My wife has an accounting degree and experience in property management. We have been investing for a few years, more casually. 

With me moving across country I am leaving behind a great reputation of being an industry expert that with a passion for learning and sharing what I know in my local investor communities.

The problem, My most valued asset is my time, I simply can't reach out to every single person individually and walk them through what I am doing to find out if they might be interested as well as there will inevitably be people I simply over look or forget. As well as I would like to expand my network even further.

My Idea, is to start producing videos breaking down in greater than normal detail the markets in my new area, analyze deals, show deals I am currently working on, and add any value for out of area investors I can! And if they want to work with me they will know the option is open. If someone comes and learns but doesn't want to work with me, that is still a win in my book! 

The Business, I want to structure it as individual partnerships where we focus on there goals to determine what to buy. For example do we care more about cashflow, forced appreciation, or being in the path of progress? It is a way to invest out of state, while having a trust worthy partner with boots on the ground that knows the local markets and has a team assembled. Making out of state investing a more manageable task.

The Management, I want to completely rework the payment structure where we only charge for management after we have seen X%  of growth in rental income for the property. Tenant retention is rewarded and no placement fees. No maintenance upcharges.                            The goal being to better align our motives by only making money if our investors/partners are making money.  

This is a working progress that I am getting closer and closer to launching. Any feedback would be awesome guys, Thank you for your time!

Sorry for the delayed update, moving across country was no small task lol. 
The resolution was after calling every local bank 3times I found a Rockstar loan officer! Instead of stopping at no he helped me work to answer, why & how. To ultimately get the loan funded. I can explain the details if anyone comes across this thread and is interested.

Thank you to those who gave there time and wisdom in responding!

I can connect you with Mike Sumsky. He was on BP back on episode 106. He mentored myself and  is an incredible wealth of knowledge. If you dont want a repeat guest I still highly encourage you to go to Kitsap county. It is the fastest growing market in Washington with an abundance mindset investor community! I recently left Washington but it was my investing boot camp and gave me the tools to be free! I will forever be grateful!

Hey there BP family!

My wife and I are in the process of purchasing a new primary residence and moving out of a triplex we have been house hacking. We are struggling with financing due to the fact we took a lose on last years taxes because the triplex was under performing.

We occupied one unit and covid made the rehab of another one take most the full year(its now rented) and the third has been steadily rented the whole time.

Now that two units are rented it's negative cash flow is only $100 a month once we move out the third unit will put us positive $1100 a month. After taking into account property management. Any advice on how to over come this hurtle? We are moving cross country due to a family emergency.

Thanks David, we need to chat again soon!
Hey Otto, I am in Washington state and house hacking a triplex that needed some serious repairs at purchase. shoot me a message and lets have a phone call!

Thank you again @David Robinson for the kind words! 
I looks like you are in good hands with the advice you are getting. Also don't forget you can do talk to the banks as well to get there input. We can all give you the guidelines of what they will say but they can give you the details specific to that individual lender.
Also if you ever find yourself across the water in Kitsap reach out!