All Forum Posts by: Son D.

Guys I think Reese is just new to REI and has no actual experience in owning properties to understand. You guys are mean on this thread. Funny...but mean :P

@Reese W. It seems to me like you want to be a hands off kind of investor who wants to own the property while letting the property manager do all the work. So since C/D properties show greater returns and you have someone to deal with the problems when things go south, why not go with those properties with higher returns? The answer is simple. You only have ANY RETURN with a PAYING tenant. It only takes 1 bad tenant to screw up years of returns. 

Here are the costs for that 1 bad tenant: Tenant stop paying rent (lost rent). You start to file eviction (Cost for evicting process). You have to get the home ready for next tenant (retouch or rehab). House sits empty (Vacancy + security). Cost to advertise and place a tenant (usually 1/2 to 1 month's rent). Take the sum of all that divided by the monthly cashflow to find out how many months of reserve you need for that turnover. That's assuming you paid cash therefore no mortgage and PM not charging you anything extra to do these things for you.

A/B renters usually stay a lot longer. As long as they're happy with the way you're treating them, they will stay for years and have no reason to move unless it's a life event such as homeownership, or job change, or moving out of state, etc.

Jupiter's ****!!! Has no one here Spartacus?!? That's still my number 1. GOT was my #1 until final season when I could no longer forgive showrunners for the nonsensical events that happen because...plot. Breaking Bad is my #2. I haven't seen most everything else you guys mentioned.

Don't you guys forget CM had a short stint trying to get a bunch of investors moving their properties to Blue Sky. That lasted about 5 minutes then he told them forget it. MI had another PM that they could recommend, but other than that, go find your own property manager.

MI used to describe their relationship with OP as hand and glove but could not elaborate on what that meant. I figured it out after the whole thing blew up. OP was the hand that did the dirty work. MI was the glove that hid OP's actions from investors. The glove look white and clean on the outside. The inside is filthy from all the dirt and sweat of the hand.

CM knew what Whalen was doing years ago, before I started investing with him. Hindsight made me realize that about his youtube videos from his early years. He tried to justify his pressure sales tactics, his lack of transparency. It wasn't a case of you didn't ask so I didn't tell. They completely lied, misdirected, and even tried to deflect it back on investors, saying things like if you don't like (insert what MI say) or (insert botched rehab) then maybe real estate investing is not for you. That's why he deleted all those videos. But the internet never forget.

The tickets were free. At first each email could get 4 tickets and then 1. My take was that this was a simple test by CM to see what would happen. There was never going to be any event. No appearances by CM.

@James Wise I'm glad CM started to pick a fight with someone like you. By that i mean both stubborn and have his kind of lawyer. Can't out lawyer FI money so his tactics won't work.

Now if only someone in Indy would be willing to do the same against the cat whisperer from OP.

So if you drag this to court wouldn't he have to fly back to the states to fight you?

@James wise I'm just wondering why did Clayton talk to you in the first place? He follows these threads and know you guys aren't on his side so why bother? What was his impression of the purpose of this interview?

Why dont you tell YouTube he's a conservative who used to work for fox news to see how fast they put it back?

Honestly though I can wait to see the trailer. It's the full video that I'd like to see. Hope you got some way to  prevent him from getting yt to pull that down.

@James Wise hundreds of victims know about this thread and you trying to interview them. Most just can't open their mouth. Maybe you can try to reach out to those guys who already won a case against Bert to see if they want to talk on video?

@Jay Hinrichs If i was reading this almost 2 years ago i would've thought that the hedge fund own these 1200 properties and want to get rid of them before the bank foreclose on them to minimize loss. Nothing to tip me off about them going to bid for the properties AFTER having received 25% earnest money. 

You're also right about new investors not knowing what sheriff's sale certificate means either, especially from out of state. As long as they receive some official form of paper that says the property belongs to them then they're happy.

I haven't seen this name in the forums in more than a year. In January 2018 he was offering me deals. He had a lot of posts on the forums so i made a post asking to see if someone who did business with him would give some feedback. To date i have zero replies. I did not do business with him. Sad to see his name brought up again this way.