All Forum Posts by: Tony Mai

@Larry Spradling

First sorry to hear this.

second this is what I would do if I was in your shoes.

1. Get a new PM

2. Get an third party appraisal

3. Then reevaluate, after the new PM and appraisal is completed. You should have the best numbers to work with after they finish their work.

4. Hopefully after it won’t be as bad as your thought.

Refi enough out so that you can still cash flow 

Can I check that you are able to put 15% down on an investment property? Typically its 25% down for investment property.  Is the down payment accurate? 

thanks for the courage to share your store.  I am sorry to hear that you got scammed.  It is important to share these stories because we all can learn from them.  What are your plans now? 

Has anyone worked with Northpoint Property management in Columbus OH? I wanted to get another investors experience or opinion about this company or any recommendation for a property manager in Columbus OH.

@Joseph Weisenbloom scam

@Steven Escobedo

Hi Steven I’m also a WBP member from Los Angeles. I would recommend Jake and Gino because they are authentic and care about your success. The money I spent helped shorten my learning curve and accelerated my time for success. I now have a community and other investors with similar goals that help each other succeed. I have meet and spoken to the operators directly on several occasions.

Through there platform I have been able to be a LP on a 100+ larger multifamily unit. I am currently looking to be a KP with another partner but I would not be able to do what I can do now without the education and guidance form the WBP community. It was money well spent.

@Jesse K. Thanks for sharing your story. There should be more like this so other investors can learn.  

You have a few options but they are going to require time and money.  Due to your current situation, you are low on capital so that does not leave you money.  The easiest solution is to stop the bleeding and sell.  I would start with the lowest performing asset.  Then reevaluate your position.  If you are able to have enough capital and time then you could try to save property 2.  If you are still loosing too much capital, I would sell property 2, reevaluate and if needed sell the 4 plex last.  Afterward, determine what worked well for you and what did not.   Good luck my fellow investor, please keep us updated on what you decided to do next.  

this is one is easy No Way! unless you want to lose money. then yes!

@Kyle Ransom I actually was in the middle of a property where the seller offered a master lease. However the final buy price was not very favorable. So yes it is possible but make sure the terms and market conditions are right