All Forum Posts by: Thayer Hood

Thank you @Steve Hall, this is the exact information I am looking for. I appreciate you covering all aspects of investing as well, not just MF properties!

To all the OOS REI!

What do you expect to see in a potential investment deal when presented with a new investment packet from someone you are not familiar with?

@Ray Harrell - That is something I am going to check out for her right away. We finally had someone come look at the plumbing for her kitchen sink and they were pulling grease out by the buckets. I was there with her to make sure everything went smoothly. Fortunately these guys were not connected and had no loyalties to the leasing company and told us that they are going to make sure that they make it very clear that this was from previous tenants. 

The appliance issue is her only worry/complaint so far with the company. Other then her not knowing if the refrigerator she just bought to replace the old one will have to remain on the property or not. I did mention all appliances were included, however we bought the washer and dryer. 

Now that the plumbing is fixed and we are in the clear for that, I do not think she wants to press much more than knowing exactly what she will have to do upon her lease ending. We didn't go out and buy a new Viking refrigerator, just something to hold her over until the lease is up for cheap. 

But like you mentioned, I am going to check the lease and review it again. I appreciate that input. Very helpful!

@Stephen Ball - crazy you mentioned him. I was looking through BP and actually came across a video he has called Raising Private Money to Build Your Real Estate Empire. It's a little over an hour and I dropped it in my playlist for later. I appreciate the advice, this only makes me want to look into him more.

@Charles Carillo - This is great! Exactly what I was looking for. I enjoy reading, especially about things I am passionate about and help me grow not just in the business but in every aspect of my daily life. I must have been living in a dark closet because I just discovered Chris Voss on youtube and immediately went out and purchased Never Split The Difference. Instantly became one of my favorite books.

@Amanda G. - I am still new to REI and I am going to definitely start checking out Paul Thompson. I am about to start one of his podcasts here soon now. I was solely listening to Tom Ferry, no bias just what my team suggested and I found the quantity and quality to be convenient and very beneficial. But I am ready to hear what others are saying. I will have to take you on your word and start investing some time in to Paul now!

@Mike Roy - Thank you, those are the things I am looking for. I always seem to remember all the good questions and things to look at AFTER the fact and when it is too late to do anything about it. 

I love the idea of the pests question. I can see how that would help you get a nice hold on the company/individual you are dealing with. 

My girlfriend is renting right now as well and had terms in her lease I was unfamiliar with. The company had her sign that she is in charge of all the appliances. So if anything breaks it is on her to replace it. The rental has all the appliances already installed (they worked fine upon inspection and move-in). 9 months into the lease the refrigerator went broke, massive problems with the sink and plumbing, then to top it all of the washer decided to cut out (naturally all my clothes were in it when this happened). 

Her situation I feel is unique. I told her the only reason I can see them doing this is because the neighborhood she lives in is not exactly winning any safety awards. Her road specifically is excellent and the neighbors are even better. But if you throw the dogs toy over the back fence, lets just say its better to forget about that toy. So i concluded that theft with these rentals may be an issue?

Have you came across anything like this before?

I know there are a lot of questions a prospective tenant may ask a property manager when viewing a property. Besides the blatant obvious, what are some questions you should always be prepared to hear from someone wanting to lease your property?

On the other side of that, what are some of the questions you may have been asked or do ask that could be essential to know but go overlooked.

Helping my nephew find a new place to rent. I understand the basics, but I know there are always things that come up in the middle of a lease and all of a sudden you realize this isn't so clear in the lease. Or things you later realize that should have mentioned in the lease.

Any and all help is appreciated, even if the answers are obvious, I would still love some input!

Looking to get a solid list of books, podcasts, channels, etc. I would love to expand my knowledge with RE in general. I have a decent collection I have built up, but am always looking for more info!

Some of my closest friends in my social sphere have finally came around after seeing the returns our team is making for REI.

They have concrete jobs with good solid salaries ($65-85K). However, they have abysmal credit and believe they will never be able to get the money needed to start their journey!

I would love to hear from any lenders or other investors who have encountered this same or similar issue. How can I help them get their first REI property?

Kerry, I would love to meet up and grab a cup of coffee whenever you are in the Indy area. 

Mark, I am new to BP and have already found this to be quite addictive and beyond educational and helpful. I would love to be able to pick your brain if you had time via email or phone.

Cara, "Build it and they will come", love it. Always have been a die hard baseball fan! Thank you for the valuable information and advice. Our team is stronger than ever right now. I am the newest addition at this point and want to make sure I can bring my own clients to the table and not rely on just what is already there. We have a handful of fantastic lenders, contractors, and Title associate. Your advice will 100% be taken to heart and I am already putting it into play.