All Forum Posts by: Aaron Hunt
Aaron Hunt has started 10 posts and replied 645 times.
Post: How can I buy a 96 unit apartment complex

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Originally posted by @Account Closed:
Haha! Why would I hire a guy that wants to be an entrepreneur? Charles--- go big and have faith!
That’s what I thought.
#FakeNews
Post: How long to wait until you file for eviction??

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Originally posted by @Ray Harrell:
"Give me another label to differentiate that you do not take personally and we can try it out."
We don't have to try anything out. There are landlords, people who rent properties that they own...PERIOD! And there are investors who purchase multiple properties and do this as a business.
Also, I would not consider you a professional. I would consider you a spoiled, pompous, privileged brat whose family handed him an established business, and who now thinks he is the king of the world! A true professional would offer advice without insulting people, and share their own experiences as examples.
I have more respect for the "Hobby Landlords" because they are starting from scratch and learning along the way. You simply walked in and started running the cash register.
I have multiple properties, run it like a business, but I still consider myself a hobby landlord.
Homes are like PokeBalls and good tenants are like rare Pokemon. Gotta catch ‘em all!
Post: How long to wait until you file for eviction??

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Originally posted by @Ray Harrell:
@Thomas S., what's with the insults about "hobby landlords"? Everyone had to start somewhere, and everyone had to learn. Stop it! Maybe someone only wants one or two properties and not thousands.
Funny thing is I consider myself a hobby landlord, yet even I tossed up a 5 Day Pay or Quit the day my tenant was late the first time. Was happy to do so. She paid up in FULL w/ late fee + the $75 fee for the 5 Day Pay or Quit notice.
It's not about being a hobby landlord or not, it's about having cajones mejores. A lot of people don't realize this is a service based industry, but one where some relative confrontation is part of the routine business.
Post: HELOC for Investment Property

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PenFed
Post: How can I buy a 96 unit apartment complex

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If you own the company, and since you got your start that way...I think you should pay it forward and help it go from a possibility to a reality!
Haaaaaave you met Charles?
#HireCharles
Post: How can I buy a 96 unit apartment complex

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Originally posted by @Omar Khan:
Originally posted by @Account Closed:
#1 Don't be negative. And #2-- don't listen to anyone on this feed that isn't a multi-millionaire. Try this "Just F====== do it!" Find the money! Go to your local private equity firms and ask them what they are looking for---- PE firms are "Hunting" everyday for deal in the 5-15 million price range--- go for it!
No offence but have you actually worked for or with a PE company? Nobody is going around looking for deals from guys with zero background. OP isn't trying to acquire a couple of SFRs or small MF.
I'm positive OP is a solid person and on the right track but giving inane advice like this is akin to giving an arsonist a matchbox (bad example but you get my drift).
Grit or determination alone aren't the only hall marks of success. Track record, professionalism, connections and capital come into play as well.
Best of luck calling a PE firm. The standard action on their end will be: spam and block. Try calling them and see the choice words they use in shutting you down.
That post made me LOLZ. We went from being unemployed and broke to PE firms backing us.
Is Will Smith going to be the lead actor in this movie?
Post: Debt-income ratio too high for loan approval

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Originally posted by @Rachel Murphy:
Originally posted by @Aaron Hunt:
Originally posted by @Rachel Murphy:
Originally posted by @Caleb Heimsoth:
Rachel Murphy are you working part time or full time since you’re a student? Anyways to refinance the student debt? What interest rate are those at?
Hey there! I'm working full time. I go to school part time right now. Can I refinance my loans if I'm still enrolled? Rates are between 7.625% and 12% interest. Multiple loans between $10,000 and $17,000.
Had a feeling this would be Problem #1 when reading the first post. Those rates are insane. Need to Sofi down those loans ASAP. Paying those loans down is a better "investment" than purchasing property at those rates.
Second, and probably most important of all, are you in a major that's actually worth doing? Does your chosen major directly translate into money/job you like? If it does, great. If it does not, and it's just an expensive degree - it's something worth re-evaluating.
Once you figure these two things out, everything else will sort itself out pretty easily within the next 1-2 years. Otherwise, you're actually taking the path of most resistance and making this process significantly more challenging than it would be.
Thank you for your response and honesty! The rates are insane for sure. What does Sofi mean? My issue is they are Sallie Mae loans so they're private and from what I've read can only be consolidated when I graduate.
Previously, I was paying out of state tuition for 3 years which is why they are so high. Now, I'm enrolled in online courses so the tuition is much less. My major is criminal justice so to answer your question, it absolutely does not translate into money or a job I like. I have thought about changing my major but would lose tons of credits and would thus have to be enrolled longer. I only have 3 core classes and 6 electives left to take before I graduate, and have this coming years tuition covered by grants/scholarships.
I realize I'm probably making it more difficult on myself by trying to force something when maybe it isn't the right time, but without getting too personal, my home life sucks and I really need/want to move out as soon as possible. I just also don't want to set myself up for failure.
Bingo! I had a gut feeling you might not be in a major/field you were truly interested in.
That’s great the next year is covered though. Might as well get it done then.
Your best bet is to refi your loans down, graduate, pickup a job that requires your major (so it’s hopefully secure, and you and your kid(s) can still live life okay), then proceed to spend your extra time finding work that you truly enjoy (the earlier the better). Whether that’s RE or something else!
I was in similar shoes, I was in engineering as a major, switched tracks completely cause it was not at all what I wanted to do. Went into medicine instead, and I started to invest in real estate while still in training, cause its fun.
Post: Debt-income ratio too high for loan approval

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Originally posted by @Rachel Murphy:
Originally posted by @Caleb Heimsoth:
Rachel Murphy are you working part time or full time since you’re a student? Anyways to refinance the student debt? What interest rate are those at?
Hey there! I'm working full time. I go to school part time right now. Can I refinance my loans if I'm still enrolled? Rates are between 7.625% and 12% interest. Multiple loans between $10,000 and $17,000.
Had a feeling this would be Problem #1 when reading the first post. Those rates are insane. Need to Sofi down those loans ASAP. Paying those loans down is a better "investment" than purchasing property at those rates.
Second, and probably most important of all, are you in a major that's actually worth doing? Does your chosen major directly translate into money/job you like? If it does, great. If it does not, and it's just an expensive degree - it's something worth re-evaluating.
Once you figure these two things out, everything else will sort itself out pretty easily within the next 1-2 years. Otherwise, you're actually taking the path of most resistance and making this process significantly more challenging than it would be.
Post: Bethesda Deal Analysis

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Originally posted by @Tom Gimer:
@Russell Brazil But what about the soothing 24/7 hum of the Beltway a block away, the gorgeous view of bumper-to-bumper traffic, and the scent of gas fumes from the front porch?
There were a couple of nice homes on sale on Thornbush, right off Grosvenor Lane, this past month. When you walked out to the backyard you couldn't hear anything but the noise from 270 - the home prices are supressed pretty significantly on these.
Post: Bethesda Deal Analysis

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Originally posted by @Bodhi Tree:
@Aaron Hunt. I live in NoVA, and taking the 'invest local' approach to heart. Have been considering investing outside within a 'roadtrip distance' (defined as 5-6 hours) - Delaware, North Carolina, etc. Any suggestions?
Got it. I personally like North Carolina (have been watching some of the cities there for a year or two now). It's also a very easy/quick flight - shuttles from DCA if you go that route. Delaware I don't know much about. Although you could snag some multi-families in that general direction for the cheaps (~2 hrs away from you).
I'm personally holding off on investing in that area. Time will tell if it's the right or wrong move.