All Forum Posts by: Scott Johnson

Come join us for our Real Estate Investing Social Meetup! Rub shoulders with Wholesalers, Rehabbers, Brokers, Lenders and other Real Estate Professionals in our industry! Even if you're just wanting to learn more about investing, you should be there!

We'll begin the meeting with a "Name-O-Rama" so you can tell everyone about yourself and what you're looking to accomplish. Don't be afraid to step up to conversations just to listen in! It's a great way to learn! (Just avoid make a Guy Fawkes face when you do it... don't ask me how I know...)

Time allocated for Wholesalers & Brokers with deals to give details.

The purpose of this meetup is purely for socializing and networking. Be sure to bring business cards!

7:00 PM Pledge of Allegiance

7:01 PM Prayer

7:02 PM Wholesaler & Broker Deal Shoutouts

7:07 PM "Name-o-Rama" (Who you are, What you do, What you're looking for)

7:17 PM Open Networking

9:30 PM End

BE ADVISED:

*** WE ARE AN EDUCATIONAL MEETUP AND DO NOT PROVIDE INVESTMENT ADVICE! Please speak to a qualified Financial Planner or CPA prior to investing ***

Link to Facebook Event: https://fb.me/e/13rrCVTTo

Come join us Every 3rd Thursday of Each Month and play The Rich Dad Company's CashFlow the Board Game!Whether you're an experience investor looking to hone your skills/network or a new investor wanting to learn the ropes, we'd love to have you out! CashFlow helps you develop a firm foundation for your Financial Education! Failing is the best way to learn, but make those mistakes with FAKE money whenever possible!Each session will have a 5-Minute "Smidgen" which gives you actionable information you can implement in your Real Estate Investment business right away!

7:00 PM Pledge of Allegiance (If you don't like it, don't come)
7:01 PM Prayer
7:04 PM "Smidgen"
7:09 PM Play CashFlow Board Game
9:00 PM Cleanup and Networking
9:30 PM End

BE ADVISED:

*** WE ARE AN EDUCATIONAL MEETUP AND DO NOT PROVIDE INVESTMENT ADVICE! Please speak to a qualified Financial Planner or CPA prior to investing ***

*** PLAY MAY BE LIMITED BY THE NUMBER OF GAME BOARDS WE HAVE! If you have a CashFlow Game, feel free to bring it, but YOU are responsible for keeping track of it! Players who do not respect other's games will be asked not to return ***

*** NO DEAL PROMOTION DURING GAME TIME, so everyone can focus on having fun and learning! If you have a deal to promote, please do so in the designated Networking Time ***

*** If you're a Real Estate Professional (insurance agent, private/institutional lender, broker, contractor, etc) and would like to do a Smidgen and join our Alumni, please contact Scott Johnson to get scheduled! Alumni in good standing will have the opportunity to be on our future Local Investor Referral List ***

Link to Facebook Event: https://fb.me/e/13rrCVTTo

Come join us Every 3rd Thursday of Each Month and play The Rich Dad Company's CashFlow the Board Game!Whether you're an experience investor looking to hone your skills/network or a new investor wanting to learn the ropes, we'd love to have you out! CashFlow helps you develop a firm foundation for your Financial Education! Failing is the best way to learn, but make those mistakes with FAKE money whenever possible!Each session will have a 5-Minute "Smidgen" which gives you actionable information you can implement in your Real Estate Investment business right away!

7:00 PM Pledge of Allegiance (If you don't like it, don't come)
7:01 PM Prayer Request & Prayer
7:04 PM "Smidgen"
7:09 PM Play CashFlow Board Game
9:00 PM Cleanup and Networking
9:30 PM End & Prayer Requests

BE ADVISED:

*** WE ARE AN EDUCATIONAL MEETUP AND DO NOT PROVIDE INVESTMENT ADVICE! Please speak to a qualified Financial Planner or CPA prior to investing ***

*** PLAY MAY BE LIMITED BY THE NUMBER OF GAME BOARDS WE HAVE! If you have a CashFlow Game, feel free to bring it, but YOU are responsible for keeping track of it! Players who do not respect other's games will be asked not to return ***

*** NO DEAL PROMOTION DURING GAME TIME, so everyone can focus on having fun and learning! If you have a deal to promote, please do so in the designated Networking Time ***

*** If you're a Real Estate Professional (insurance agent, private/institutional lender, broker, contractor, etc) and would like to do a Smidgen and join our Alumni, please contact Scott Johnson to get scheduled! Alumni in good standing will have the opportunity to be on our future Local Investor Referral List ***

Come join us Every 3rd Thursday of Each Month and play The Rich Dad Company's CashFlow the Board Game!

Whether you're an experience investor looking to hone your skills/network or a new investor wanting to learn the ropes, we'd love to have you out! CashFlow helps you develop a firm foundation for your Financial Education! Failing is the best way to learn, but make those mistakes with FAKE money whenever possible!Each session will have a 5-Minute "Smidgen" which gives you actionable information you can implement in your Real Estate Investment business right away!

Agenda
7:00 PM Pledge of Allegiance (If you don't like it, don't come)
7:01 PM "Smidgen"
7:06 PM Play CashFlow Board Game
9:00 PM Cleanup and Networking
9:30 PM End & Prayer Requests

Rules

1) Let People Fail!

2) Have Fun!

BE ADVISED

*** WE ARE AN EDUCATIONAL MEETUP AND DO NOT PROVIDE INVESTMENT ADVICE! Please speak to a qualified Financial Planner or CPA prior to investing ***

*** PLAY MAY BE LIMITED BY THE NUMBER OF GAME BOARDS WE HAVE! If you have a CashFlow Game, feel free to bring it, but YOU are responsible for keeping track of it! Players who do not respect other's games will be asked not to return ***

*** NO DEAL PROMOTION DURING GAME TIME, so everyone can focus on having fun and learning! If you have a deal to promote, please do so in the designated Networking Time ***

*** If you're a Real Estate Professional (insurance agent, private/institutional lender, broker, contractor, etc) and would like to do a Smidgen and join our Alumni, please contact Scott Johnson to get scheduled! Alumni in good standing will have the opportunity to be on our future Local Investor Referral List ***

 Hopping in here because my mom's RV Airbnbs have been wrecked the last few months. Only a handful of bookings, so she's needing to supplement with longer term tenants. 

 Congrats, dude! Boom!

 I'd completely avoid adjustable debt. All paper markets are completely detached from the actual economy so I personally don't trust them one bit. 

What's the interest rate on your mortgage that you're refinancing out of?

Quote from @Jeremy Lo:

Quote from @Scott Johnson:

Quote from @Jeremy Lo:

Hello everyone,

I have a particular issue with my Property Management Company.

My rental property needed plumbing work done. My property managers told me the repair would not be covered under warranty without even talking to our warranty company. When I called our warranty they approved it stating the plumber would simply have to fill out a work order online for them.

When I told my property managers this, they repeatedly insisted that the repair was not covered under warranty and repeatedly requested to deduct from rental proceeds as payment for the repair.

Our property managers provided me with a plumbing company of their choosing and I begrudgingly agreed as long as I could pay the plumbers directly. Again, my property managers insisted on drawing funds from rental proceeds.

This disagreement went on for weeks.

Our property managers did eventually contact our warranty company, but whatever was said caused our warranty claim to be denied which meant I was stuck with the bill.

Out of pure exhaustion I gave up and allowed our property managers to deduct from rental proceeds who's attitude all of a sudden changed and stopped being argumentative.

Not only that but they sent me a generic POA form, telling me that they could not sign leases without it and that it was a "new rule" in Florida. They already have a managment agreement that describes what they're asking for in the POA and Florida does NOT require property managers to have a POA to sign leases by the way.

I stalled for months and sure enough, they renewed our tenant's lease, without a POA.

So what is/was my property management company trying to do? Why do they insist on deducting from rental proceeds? Why is my warranty company being told information that would otherwise deny a claim? How was this NOT normal wear and tear?

All we needed replaced was a water line in the kitchen.

I don't know why this wasn't covered under warranty.

Now we're at the point of replacing the drywall and my property management is again asking to pull from rental proceeds, and SURPISE SURPRISE the work isn't covered under warranty.......BECAUSE our warranty didn't hire the plumbers in the first place. How convenient.

I believe our property managers are siphoning funds directly from rental proceeds and/or receiving a kickback for the repairs and want to eliminate oversight from a third party warranty company.

Am I crazy?

Am I the only one seeing this?

Am I just going to have to suck it up and pay out of pocket?

This is my first and only property.

 They sounds super sus-burger helper. Even if they're being open and honest, if you're getting a woo-jah feeling, I'd start calling around to other property managers. 

Are they the lowest cost one around? What made you choose them in the first place?

 Thank you for your response.

We're a military family and had orders to move to another military installation in another state. We were notified 2 months after purchasing the home so things had to move quickly and we went with the first PM we found. Rookie move I know, but they were good up until the economic crash this year.

 I wouldn't say a rookie move. It happens. You're hearing what they're saying and in the future you'll be able to identify loser PMs. Great learning experience, but I'd drop them like they're hot. 

 I'd still retain my recommendation to choose the strategy based on the property. Find the property first and run the numbers to see which strategy will work best. 

On the team building, you'll want to go to the city you're going to invest in. Schedule meetings with 3 property managers, 3 brokers (preferably BP members 😉) & City Zoning/Planning. The PM can help you find contractors when you need them, and lenders/insurance brokers can be inter-state.

Hope this helps!