All Forum Posts by: Sean Dawson

@we have an 8 unit and water averaged for the year at $96  and sewer at @183 per month

@Joshua Zamora    who have you already tried?

Thank you all for the responses.  I will explore these avenues and ideas.  I am attracted by note investing and feel overwhelmed with where to start.  I see I need to assess the property value, note terms and payor credit and risks.  What vexes me most is how to identify the sources to market to bring them to market.  

@Logan Jones Here in Columbus, I had a tenant's kid pull the soap dispenser off the wall and not tell me about it.  Water got in and had to redo that whole wall instead of just fixing the soap dish part.  

When they moved out I charged them for the materials to fix it and for my time. They were also charged for other items and I did not give them back their deposit.  They took me to small claims court.  Magistrate struck the portion I took out for my labor.  Said that was part of being a landlord.  This was my first time going to court and first time dealing with problem tenants.  

After that anytime there was a problem I had a contractor fix it and deduct the full amount.  That is always allowed.  

Hi BP community!

Happy labor day! I am happy to labor for my future business on RE topics today :)

I am interested in embarking on a marketing plan to find performing seller carry back notes.  I have had some advice that the target market is: retirees, probate and divorce attorneys, builders and title companies.

My question for the folks out there is, what is your experience with the supply and demand for seller carry back notes?  Are they a needle in a haystack?  I know a few investors in my area and I haven't heard of anyone doing this strategy.  I thought I would cast a net into the BP community to see what your experiences have been.

Love to hear your thoughts...…

Good morning.  We purchased a property about a year ago right before the tri-annual valuations in Ohio.  It was an arms length purchase and sales price was 232,000.  The county had lowered the property valuation, but since we purchased it the school board filed an appeal on the valuation.  Since it was recently purchased is there any benefit  to getting an appraiser in there to see if we can lower the value?

Thanks!

@Spencer Cornelia, a couple of podcasts have been done on this.  Cont remember which ones, but @Ben Leybovich and Serge (spelled wrong I'm sure and cant remember his last name) covered it very nicely in a podcast and blog post.  Look it up.  There  also are a few spreadsheets in the files area that have it broken out.

Good luck

@Colleen Sauer, take a look at my post in this thread:

https://www.biggerpockets.com/forums/48/topics/546...

My response it about the company Sarah Wheeler works for.  Of course your mileage may vary

@Basit Siddiqi, @Mark Welp.  Thanks.  I knew that they did that from talking with bankers,  but was wondering how it related to something I heard  from @Brandon Turner on a podcast.  

He was talking about telling his CPA to back off on deductions so that he could get loans.  I was wondering why that was.  If the banks really only look at income why would he have the CPA back off?

@Mark Welp, yes I like the passive loss but have a question about that.   How do banks look at that when you're applying for more loans?  How do they see the loss?