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All Forum Posts by: Will Zena

Will Zena has started 17 posts and replied 194 times.

Post: Columbus OH Property Manager Referral Request

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

I am an investor in the Columbus OH area and I am currently looking for another property in that area. My PM company is doing a good job but currently do not have any properties that meet my criteria.

Looking for a class B or C property in Columbus OH good solid areas. Not looking for a D property that is being passed along as a C or a C being passed for a B. I would like to stay in the $60k to $75k range and will be financing.

If there are any quality turnkey providers in the Columbus OH area please message me if you have properties that meet that criteria. I do my homework so please only turnkey providers with a good track record.

By the way thank you @Nathan Gesner for that great checklist

Post: Experience with USREEB?

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105
Originally posted by @Josh Fabrizio:

I know this thread is pretty old but I bought a house from USREEB about 5 months ago and I wanted to just throw my experience out there.  While Mackaylee Beach was great and easy to work with, the PM part of the company has been nothing but frustrating and has deterred me from using there company again. Random charges, extremely slow communication, lack of continuity. There seems to be a huge disconnect between the part of the company that does the acquisitions and sales and the PM part of it. I may be a little bit ticky tacky because this is my first "turnkey" investment but it has been stressful to say the least.

I would not necessarily say that USREEB is a bad company or anything but if you don't like waiting a week or more to hear back from your property manager then they probably won't be a good fit for you. I can go into more detail for anyone who is interested.

Please share your whole experience if you don't mind. It is helpful for everyone.

Post: Fund & Grow Case Study

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

@Maurice Colbert i research and pray over decisions like this also. the Tyler Jahnke thread on Morris Invest is an amazing thread and saved me from making a mistake for sure.  They bring alot fo business to Fund and Grow so its understandable

Post: Fund & Grow Case Study

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

@Kathia L. i agree with @Joel Wilmoth .  Read the threads on Morris Invest here on bigger pockets. very scary experiences. however I am hearing good things about Fund and Grow. 

Post: Morris Invest Case Study 2.0

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

Also he is well advised legally. He has Umbrella corps and LLCs intertwined that would probably cause some headaches if anyone seeks legal action. He is well protected I'm sure. Companies owned by Garrett Sutton and Tom Wheelwright are his hired advisors.

Post: Morris Invest Case Study 2.0

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

This is a great thread for beginners to follow the ups and downs of a real estate investors journey that most can see themselves going through. When I started reading this I was seriously considering buying from Morris Invest for my first property.  I happily went in a different direction and at this point I am closing on my 2nd property very soon while the search for a 3rd has begun. 

I look forward to more updates from Tyler and if any other Morris Invest customers find this thread I hope they share something with us also.

Post: Morris Invest Case Study 2.0

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

Yes I hear alot about Missy. I purchased my first property from a TK in Columbus that she mentors and I have been very happy. They know how to rehab properties and Missy from what I hear is among the best.

One thing I learned so far is you may find other TK that can offer a higher ROI but when its a bad rehab or bad tenant placement with bad mgmt then its a loser. I think for passive buyers it is best to find a quality TK company that do true rehabs on properties and more importantly manage the property at a high level. Even if the ROI is 1% or even 2% lower than others offer because you will actually see the return.

With many TK providers the higher ROI they show the more skeptical you should be and even more research you need to do.

Post: Morris Invest Case Study 2.0

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

@Jay Hinrichs it erks the hell out of me as well. when they preach paying it forward and being good to others on their podcast. they do podcasts on chartitable efforts and "tithing" to where ever you are fed spiritually. Well if you put people in this kind of position I would rather be fed spiritually or any other way in the opposite direction. those are some of the reasons this pisses me off the most.

Post: Cash Call Mortgage Experiences

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105

@Terry Lao ok definitely going to check out their website. if i give them a call I will update this thread with what I am told. Thanks

Post: Cash Call Mortgage Experiences

Will Zena
Pro Member
Posted
  • Rental Property Investor
  • Estero, FL
  • Posts 195
  • Votes 105
Originally posted by @Terry Lao:

@Will Zena

Most loans originated bank, broker, or online company, will have the same underwriting guidelines. When close, they will more than likely sold to the secondary market. For example, you do a loan with Bank of America, then you will sign at closing a notice that you loan might be service by another company. That is just a nice way of saying, they sold you loan.

Overall, if a company like Bank of America or Wells Fargo, has high overhead, rent for fancy building, employees, then they will need to pay more for doing same loan as internet company with low overhead.

Easier to deal with? Probably the same. You have to know your loan, like A quality or not. I'm W2 with good income, fico of 800, and have down payment easily in bank. My tax returns are in order, employed for good length of time, and proof of funds with bank statements. My prior loans are with Cash Call and I know my loan officer. When i want to make a purchase, I tell her the details and she just brings up my old loan information and see what needs updating.

Knowing my lender and they know me, is easily worth paying a few more hundred dollars than finding the absolute lowest rock bottom price loan and someone that I do not know.

Also, I was in the mortgage business awhile back, so I don't need alot of hand holding.

Terry

 Ok, I have been down the traditional lending road ofr my properties a couple times so I know what your saying.  Just in their commercials they state very low closing costs and 18 day close so I am wondering if that is all true. Also they say they are more concerned with the deal than your tax returns. It sounds like they are like my usual lenders.  Just some propaganda to get people to call which is fine and pretty common.