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All Forum Posts by: Nick Johnson

Nick Johnson has started 23 posts and replied 106 times.

Post: 1st Time Home Buyer

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

As far as I know, FHA has always been: "Must not have owned any property within the past 3 years."

I could be wrong though. Might want to take a gander at the FHA website?

Post: Is lending hard money a good way to "invest"

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

If you are really going to get your feet wet, I am out looking for Hard Money myself. My deals would be the smaller type (30-80k) each.

Just keep me posted if you jump in please! :) Good luck with your research.

Post: Collection of BEST Property Management

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

Guys,

I couldn't agree more!

However, I should have been more specific with my post. The thought of this thread was/is to help out-of-state investors all around the nation with possible quality leads of places to start looking for good PM.

Thanks for not cluttering up the thread :mrgreen: Just trying to help everyone!

Post: Anyone else having appraisal problems?

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13
Originally posted by Colin Ralls:


Should arrange it. :cool:


Now there's a money making business if I've ever seen one. :wink:

Post: Anyone else having appraisal problems?

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

You mention other comps.

What were the closing dates on those comps? Are they current?

I wouldn't tell the appriaser any of my business in the future. It's really none of his/her business.

Post: Collection of BEST Property Management

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

I just wanted to start a thread with a listing of the best property management companies out there.

You should only post if you:
Currently use the company or person you list
Would recommend them to your family and friends to use
Feel that they make financial sense
Feel that they don't "nickle and dime" you to death
Feel that they don't try to charge for services that you don't need (upsell)
Feel that they do a great job finding you the tenants with guidelines you prefer/request
Can show that they keep a low vacancy rate for you
Get paid on time
Etc....

The market or area is not important, just please give us the contact info and the area(s) that the place you are passing along works/manages.

Thanks for those that take the time to post some HONEST reviews and information here and not those just promoting a company that they own or a family member/friend does.

Post: Best Property Management Thread

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

I just wanted to start a thread with a listing of the best property management companies out there.

You should only post if you:
Currently use the company or person you list
Would recommend them to your family and friends to use
Feel that they make financial sense
Feel that they don't "nickle and dime" you to death
Feel that they don't try to charge for services that you don't need (upsell)
Feel that they do a great job finding you the tenants with guidelines you prefer/request
Can show that they keep a low vacancy rate for you
Get paid on time
Etc....

The market or area is not important, just please give us the contact info and the area(s) that the place you are passing along works/manages.

Thanks for those that take the time to post some HONEST reviews and information here and not those just promoting a company that they own or a family member/friend does.

This thread was moved to a more clear title here: http://www.biggerpockets.com/forums/52-rental-property-questions-landlording-issues/topics/26905-collection-of-best-property-management

Post: Hard/Rehab money for property in NY?

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13

Initially I was looking in Rochester. I have since determined that I will find a safer investment in Indianapolis. Lower unemployment and better growth.

Thanks for responding though!

Post: Refi out of a Hard money rehab?

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13
Originally posted by FLFlipper:
The company providing the hard money loan should have these answers for you.
Our HM lender has several lenders in place to re-fi out of the hard money into conventional.

Your hard money people want you to have an exit strategy so they should already have these lenders in place, lenders who are 100% familiar with what you are doing.
Check with them.


Never thought of that angle. Thanks FLFlipper!

Post: Refi out of a Hard money rehab?

Nick Johnson
Pro Member
Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 157
  • Votes 13
Originally posted by Ben Carmona:
I've been saying this for many months now that small local banks and portfolio lenders can do no seasoning refinances and have no restrictions to how many properties are owned.

Investors either just need to pick up the yellow pages and call or have a consultant find the sources for them.

Stated income is the tricky part.

There are sources for the combine need of: stated income, no seasoning, and no restrictions for # of properties but the cost can be a bit eye opening.


I am not so much worried about the cost Ben. I do have your number in my email in box, just have not had the time to call you yet. I am closing on my first Owner Occ property and have some minor rehab work to do. Busy busy busy.

Thanks for taking the time though and I will be in contact ASAP! I can assure of that. :mrgreen: