All Forum Posts by: Bryan Blankenship

Gotta love these idiot scammers!

I see 5 of these posts each day on FB.  

Crazy anyone would fall for it.  Usually very wide ranges (5,000 to $50MM) and stupid interest @ 3-5%.

Sad!

If it's truly that rough, I personally wouldn't.  There are always greener pastures to be found with less hassle and stress.  It's a cheap way to learn, but can also be a costly way to learn.

In a bad area, you can be 4 days from completion on a rehab and have a vandalism break in that destroys the home.

Obviously there are plenty of ways to counteract almost anything (security, insurance, leave windows boarded til very last second during rehab, etc) but for me it's not worth it to work in very rough areas for any reason.  Others will disagree!

I work the entire state of Ohio (and many other states) and we do far more volume in Cinci and Dayton than in Columbus.  

We are based in Cinci or I'd offer to help you out on this request!

RE agents aren't really allowed to comment on a good/bad area too much as they can easily be sued for saying an area is good, and then a robbery happens next door a week later and the buyer is ticked off.  

8-11% return will be normal for you to be semi hands-off.  

Some are 1-4 points and 9-12% so they keep a small interest % spread but primarily make points.  

Others will be flat interest only, though more on the PML side and not the HML side.

I borrow approx $5MM now from various PML sources.  My cheapest is flat 9%, my most expensive is 2 points 10%.  

Most are in the 12% flat range, no points, but we give them bonuses based on individual project performance that get them to 14-17% pretty easily APR.

I would definitely get your own professional maintenance and just have full market rate tenants to offset.

There's no telling what her level of true "maintenance" is that will cost you more in the long run from hidden issues than you'll save via a rent arrangement.

And out of principle alone, she will give you issues over this $100 discrepancy and has the power to cause you problems (neglect, bad mouthing to other tenants, etc).

Goodbye to her IMO!

I've had some pretty massive trees cut down for surprisingly low costs.  Massive 3ft wide stuff for $900-1500 when the going rate was $2500+.

The best thing to do is find a newer company/crew who has worked under a bigger company for many years and has the experience, but has decided to go out on their own and do the work themselves.

They are typically hungry for work and underbid pricing quite a bit.  As long as they are licensed and insured and the tree isn't perilous (danging over the entire home) then finding someone cheaper is pretty easy to do.  I've never had to back away from a deal due to a tree.

Best of luck!

While we customize all of our direct letters in house, you can see a few examples at https://www.yellowletters.com/ in the postcard section.  They show on their templates what is used and how they word the postcards that they send out to sellers.  

Wow that's Crazy.  

HUD can work out very well if you find the right tenants. I find the best tenants to be those that contribute a portion of their rent and have a job so they feel they have ownership interest in the property and not just getting a free handout.

Even in our local area we can get applications fully processed and lease signed within 10 days while others can be 25-30.  

The county sheriff has lists sorted by week of sale for all/most of Ohio for sure, your area should too as it's public information and almost always online.  

Ours stays up to date with redeemed properties, canceled auctions, etc so you know what properties will be up for active bidding right before you go.