All Forum Posts by: Sean Thompson

i now have 3 properties in the memphis area, 2 with "hardin enterprises" and one with "realty capital management". hardin enterprises im about 50% satisfied, and realty capital i havent been with long enough to say, but so far its about 85% satisfied. 

about 7 hours away. I appreciate your feedback about managing repairs and such. For now I wouldn't have any issues directing phone calls, but I don't have the luxury of time to do anything there in person. And eventually I would like it to be completely hands off. Wether that be a good property manager, or my own employees , or various services to cover all needs. I know that there are plenty of services I can pick and choose what I need , I just need to learn of them. I've used something similar to task rabbit in the past when I wanted photos of the property. 

Specifically the rents. I would prefer a property manager as a one stop shop boots on the ground approach, but the one I have now is doing a very poor job I feel . E.g. My rents show up on their owners portal, but for some reason 3 months now I have not recieved deposits , even after numerous conversations about it, and a reminder just a week ago. hearing of these self services offered by companies such as cozy, I figure I can get almost exactly what a property manager does, except not all my eggs in one basket. My only real issue is on the ground presence. 

Thank you for your response 

good morning

I am having continued issues with my property manager, and I am looking for services that can help me manage the property myself. 

I listen to numerous real estate podcasts, including bigger pockets, and I have heard many "self help" or alacarte services that help landlords manage their properties themselves. Such as rent collection, tenant placement, phone call reception, repairs, lease management. 

Rather than wait to hear the ads / interviews again, I would like to hear the bigger pocket communities references for services to help me manage the properties myself. 

Currently my properties are in Memphis Tn. 

Thank you in advance

Sean thompson 

Good morning. I am having continued issues with my property manager. I've only been with them for a year, but in that year I continue to have numerous issues from repairs, to rent deposits. I listen to a number of real estate podcasts, including bigger pockets, and I have heard advertisements for numerous "self management" services. Which is kind of an oxymoron, using a 3rd party service to manage it yourself, but regardless . Rather than waiting to hear these ads or interviews again, I would like the bigger pocket communities feedback on "do it yourself" services for things such as rent collection, phone services, property repairs, tenant placement/ lease management. Thank you in advance Sean thompson

Thank you for your inputs. That's pretty much my thoughts also , and I will let her know. Thank you

I have a client who pulled a second mortgage a few years back. But the bank did not record the lien with the county, or city or whoever handles that. The bank claims that since it was not recorded with the county, they consider it a "unsecured" second mortgage. A year after getting the second mortgage, the bank sold it to another bank. She has been paying on the loan in order to not get in trouble, but now she is attempting to sell her home, and is wondering what will happen with it. Does the loan still exist even if it's not a lien against the property? I think it would still be a loan to her personally, but not a lien against the property. But to make sure , I would like all of your opinions. Does the loan actually exist ? Is it attached to the house? Will it affect the selling of the house? Will it hurt her if she stops paying on it ? Thank you for all of your inputs on this. Sean thompson Owner inopii holdings llc Inopiiholdings.com

Melvin List I agree. And we would have if the first appraiser hadn't disappeared due to a child birth. Which I understand from their perspective. But since then it took weeks to get a new appraiser , and when we did they came back with a low figure that is not reasonable given the rehab, and the higher comps included in the appraisal. So now we're waiting weeks more to contest the value. All this on top of previous months of delays.

i have tried to send a PM to you, but it doesnt find your name, and it says your contact is hidden. perhaps connecting will make this available. thank you for your response and assistance. i am not dead set for conventional lenders, and i know that i will need private lenders once i reach my 10 / 20 with wife freddie fannie limit. i am ok paying a few more percent for the much faster closing of private lenders. thank you for your offer.

Good morning. I have been held up for various reasons on a single family refinance for 9 months now. Lost a month when the rehab crew vanished , property manager got that back on track quickly, and the rest of the delay has been the refinance. First, my lending guy changed companies and I didn't know. So when I emailed his company email I lost a month thinking it was underway. That's my fault for not following up with him personally , and assuming things were underway. Sent the papers to him at the new company after speaking with him , and long story short 3 months later he leaves that company because they were dragging feet, digging extremely deep into my finances, and intentionally including weeks of delays on things like second and third audits and underwriting. He moves to next company. After 3 weeks this company stops doing investments mortgages, and drops all packages cold turkey. So now I'm using a different guy, different company. We were set to close in a record (for me and him) 2 weeks. Delayed waiting weeks after the first appraiser disappeared due to a birth in the family. Next appraiser takes 3 weeks to do a bunch of appraisals dropped on them, and comes back with an ultra low value , when they included comps in the appraisal for much higher. Several more weeks here we are waiting on contesting the value. So after all that my question is simple: how can I avoid this in the future? And what can I do about it now ? It's hard to avoid this because it's hard to know how a lender will work before using them. And conventional refinances takes a while to begin with , so how long is "too long" to realize things aren't going well? And after all that time waiting to see how things go , what can I do about it now ? Go to a different lender ? Risk waiting 3+ more months on another lender who won't get it done in reasonable time? Once I find a decent lender who works well I'll stick with them. But right now I'm being drug through the dirt trying to find that good lender. Any information will help. Thank you P.s. I'm in north Atlanta ga, with rentals in Memphis tn. Anything I can do to help other investors please let me know.