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All Forum Posts by: Mark Whittlesey

Mark Whittlesey has started 2 posts and replied 217 times.

Post: Appraisal Advice - sq ft concern

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

I have seen this a few times. As mentioned, it can be a discrepancy at the county office.

One possible explanation is if an addition was made to the house. If it was not permitted (not so good) or if the county somehow did not update their records (better), that can be a reason for the discrepancy.

Post: Columbus Polluters

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

if you call the phone number on the sign, you can tell that person directly??

Post: Hedge Funds- How are they treating their rentals?

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

I have anecdotal info from my PM. Yes, they ARE buying SFRs. They are fixing them up "to the max". And then charging top market rent for them. So at least in Phoenix, they appear to be in it for the long haul.

Post: 150 Flips in 2014!

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

Great thread! Thanks so much for sharing...

One quick question... On a lot of the recent acquisitions, you say that you are going to list them yourselves. Are you personally the licensee?

Post: Newbie with Major Landlord issue in Mandeville, Louisiana

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91
Originally posted by @Rick Day:

They both had a ton of bites. I'm not talking 1, 2, 10. I'm talking 30+. My gf foot really looks like she has chicken pox.

Start documenting all this. Get your GF to keep a diary. Who she talked to, what day, what time. What was promised. Then follow up. And be persistent. Keep asking.

Take pictures of EVERYTHING- carpet, flea bites, even the fleas themselves if you can.

Post: Newbie with Major Landlord issue in Mandeville, Louisiana

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91
Originally posted by @Richard Vang:
@Rick Day

wow! breathing issue because of flea??!!! Doesn't make sense at all. Sounds like a complaining/whining tenant.

Not necessarily. Some people are VERY sensitive to that type of thing. Almost like an allergic reaction. It happens to my wife. Bugs seems to love biting her and she has terrible reactions to them. (I am exactly the opposite.)

Post: Good or Bad Owner Financing Apartment Deal?

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91
Originally posted by @Wayne Brooks:
The owner is offering those terms because the property is grossly over priced.

Yea.. This.

One other point. A 3 year balloon is NOT good. I would always ask for 10 and hope to get 7... MAYBE consider 5. But not 3.

Post: Paying down Rental Unit Mortgage?

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

Yea.. As has been pointed out... there are 2 answers.

The math answer is: no.. Don't pay them off. Interest rates are so low now that you can almost assuredly have a better use of the money.

But the piece of mind answer is: do what makes you comfortable. You can weather A LOT of storms and sleep very well in those storms with no debt.

Post: Potential interested tenant half the country away...???

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

I have done something similar. They were moving from the Carolinas to Phoenix. It worked out fine.

Do your due dilligence as always (application, background check, credit check, yaddah yaddah.)

Post: How much did your rents drop during market crash?

Mark WhittleseyPosted
  • Real Estate Investor
  • Encinitas, CA
  • Posts 225
  • Votes 91

I didn't see a change at all.