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4 June 2024 | 10 replies
Feel" the true beat of the portfolio's income and expenses performance before using leverage to speed up the growth of your portfolio.Using cash only will protect your bottom line in scenario's like yours when the properties don't perform as expected as you won't be on the hook to cover the mortgage expenses.Just my bias opinion so take it with a grain of salt.I've also witnessed many finger pointing instances when others get involved.Like a new property manager, realtor, contractor, etc...I've had my share of bad experiences with realtors that threw my company under the bus and got in the investors ear to flog it at any price just so they can make a quick commission.It get's very messy, painful and pretty much turns into a disaster with the investor not knowing who to trust or what to do anymore.Similar to what you post about has happened to me and my company many times and if allowed the opportunity, we do our best to fix and come good.Some loose trust and faith and I 100% understand, but as soon as someone leaves the wing of my company there is not much that we can do because as I mentioned above, everyone else get's involved, has an opinion and the situation get's very messy.Having in-house property management is vital when such a "crisis" arises.I tried out-sourced PM when we first started and it was a disaster.We had no choice other than to bring it in-house.Hated my life for the first 5 years with in-house PM and fast forward 10 years, it has become our "golden goose" and a very well streamlined and beautiful business.From what I've seen and read on the forum and elsewhere it seems like RTR has a good reputation and what you have mentioned seems like a "worst case scenario".I hope RTR will assist you the best they can and all I can say is learn from the experience and don't give up.Do your best to weather the storm and focus on minutia.Don't have regrets and don't spend too much time dwelling on the past.Glimpse into the past to get guidance from what you could have done better and think ahead.Move forward smarter, more experienced and better.Wishing you well and much success with your future endeavors.
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9 June 2024 | 223 replies
In addition, along the same lines as suggested above, be aware that in California, every contract includes an implied covenant of good faith and fair dealing.
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1 June 2024 | 2 replies
While some are in good faith, it seems that some are intended to delay the sale as much as possible.
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29 May 2024 | 27 replies
Do you just jump on board by faith?
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1 June 2024 | 48 replies
I got the sense that he has an ethic of service and is out to make a contribution, also as someone with military background (discipline) and active faith (trustworthiness).
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29 May 2024 | 16 replies
This tenant has given every indication that they can’t resist from the continued sniping and repeated communication issues so I’m sure the warning will show signs of good faith that I tried to make the situation work and she did not comply.
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29 May 2024 | 64 replies
Keep the faith and take care of yourself.
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27 May 2024 | 23 replies
If you have the cash, proof of funds is easy: Screenshot a bank balance or provide a recent bank statement.If you have a legitimate hard money lender who has underwritten the deal and confirmed you have the down payment and cash to close, they should be able to provide you a letter stating exactly that.If you have neither, then you have no business making an offer in bad faith and trying to tie up the seller's property.Also (and this is crucial and a common rookie mistake) - Don't send a "cash" offer to the title company and then neglect to tell them about your hard money lender.
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24 May 2024 | 36 replies
Granted, some "gurus" are not what they claim to be, but, if you do your research and have as much faith as you do in your so-called professors, you will find the one(s) with which you feel most comfortable and provides the most necessary information for you to move forward in your quest for financial freedom via real estate.
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26 May 2024 | 102 replies
I would not place any faith whatsoever in the projections of someone who thinks that the issues in the commercial & multi-family markets are contained to 2022-2023.