All Forum Posts by: Tom Yung

@Joshua Fletcherr

If you know for sure is a seller market , Why do you want to low ball the seller.

Think it this way: The seller wants the Price they are asking. You want the terms.

like home warranty,  appliances, closing cost, seller financing....etc.

negotiating is a skill that everybody has to WIN in the game. 

Winner #1, seller.

Winner #2 You, the buyer. You get the terms.

Winner #3, the agent, they made their commissioner. 

WIN WIN WIN situation.

@Jennifer Kim

I am surprised that almost all the response to your question is NO.

I, myself actually likes to touch up a fresh coat of paint for every new tenant that moves in on a new lease. 

If the tenant wants any custom color other than the neutral color than I use in all my units, then I will ask the tenant for a fee of $3000 so I can paint the unit back to neutral after they move. I have never had a tenant that wants to pay me the $3000 yet.

@Brie Schmidt

First, Congrats.

Second, It is so true that when you said your eyes lights up when you talk RE. it is a great feeling to be able to do what one enjoys & still be able to have freedom; both time & financially.

You ROCK

@Rachel Randolph

This is only my observation & past experience.

Most property manager were hired by a Broker of a property management company, that runs the company.The property managers are not really experienced or has experience in dealing with the tenants. Some of them do not even has a salesman license, never mind professional designation like CPM.

I have also found dishonest broker when I first get into GA market in 2012. Since then that company is no longer existed. Like placing home warranty & alarm service. After I paid the invoices, he turned around & cancel them & pocket the money. Placing tenants in units without me knowing it. Terrible. I was lucky, I found out in one month, after he was hired.

Inflated repair cost is another ongoing issue with the GA management companies. There can be $1,900 difference between the price I get & the quote by the vendor of the property manager on a touch up paint on walls of 1800 sq ft home . Scary.

@Rachel Randolph 

Property manager is key to the success of long term buy & hold.

I am out of state investor that has hold properties in TX, GA & NV.

I had been invested in GA over two years already. I had to switch over three property management companies in the past 2 years. 

All the property management issues in GA, I did not encounter in my TX & NV property management. As a matter of fact, I had talked to more than 4 out of states investors in the last couple months; regarding their own property management issues in GA.

You can probably read a lot of GA property management issues on past post on BP. Good Luck, I wish I can provide you more useful & helpful property manager tips.

@Joshua Dorkin

Everything looks rehabbed .

I can see you have put endless energy & thoughts to give birth to this baby.

thank

@Ken Palmquist

I found this from another thread on BP regarding Scott Yancey training

http://www.utahconsumeradvocate.com/complaint-foru...

I let you do your own decision. But if you ask me. I will say NO.

BTW, I am sending my daughter to one of their seminar. So she can learn how to tell how people scam other people in real life. So she will not fall into that kind of trap later in her life.

@Huy N.

Inspiring & looks great.

Next one with both arms; you shall double your profit and more.

Lucky you, you are in one piece & still make some $$$.

@Frank D'Amato

I have never buy Kentucky tax lien.

The Kentucky annual tax lien certificate auctions are held during between the months of July and October.All of the Kentucky county tax lien certificate auctions are held on location.The bidding method is a first priority sale followed by random selection.The county first allocates those certificates of delinquency for which third party purchaser’s requested a priority claim prior to the auction, the remaining tax lien certificates are sold, usually in predetermined lot sizes. The order of selection choice is determined by random drawing at the beginning of the tax sale. If a registered buyer is not present for the random drawing, they will be placed at the bottom of the selection list. The interest rate of return on Kentucky tax lien certificates is 12% per annum.The minimum redemption period is 1 year from the date of the auction.

The part that you have to pay attention is LOT SIZE. They range from 5 to 50( this depends on # of certificates of delinquency available to be sold ). You really have to do your homework.

From my 2 cents, there are nothing really passive either buying tax lien or fix & hold.

I invest in both. There are work, it's a business.

@Nat C.

Your property may have been put in county Tax sale already.

Fulton county put all 2013 tax delinquent properties to tax auction.

1) Notify tax office, change your mailing address immediately.

2) check with county tax if your property were placed in tax auction already; & if any third party had won the auction. You should also receive the notification from the county.

a) IF YES, pay off the amount (2013 tax owing + interest + penalty + overbid amount + 20% of total bidding amount.) You have up to one year to redeem the property. Make sure you get your overbid back from the county.

b) IF NO, just pay off the amount (2013 tax owing + interest + penalty + service charge.); before the county put your property into tax auction.

From what you wrote up there, I have a feeling it has not go through tax auction yet. Good Luck.

BTW, you have to make sure the address is changed yourself, DO NOT depend on lawyers, double check.