All Forum Posts by: Abdul Azeez

 Appreciate it Diane. But just to be clear I did not go with my eyes closed. I researched the market and found that investing in NJ was not feasible due to high property taxes. Only when I found I couldn't invest locally I looked outside and based on research narrowed down on Memphis.

 Diane - completely agree. BP has left an extremely bad taste in the mouth. Going by positive reviews for any service provider on this site needs to be treaated with a lot of caution by beginners like myself as it seems like a lot of quid pro quo is in motion. How long is a reasonable time to wait?

 Diane - by syndication I mean that they said they update in one site and it pushes the update to multiple other sites including Zillow. I have asked why they cannot manually update Zillow and am awaiting input.

 Diane - no they did not misunderstand me. They said they update at their site and Zillow etc. Pick up from there and I may need to reach out to Zillow support to correct it. They also said they have no control if or when an update makes it to Zillow.

Folks - just to solicit input, is it the right time to throw in the towel and list this for sale or is it worth waiting a bit more? Since Jan 10 the day of closing I have reduced the rent and offerred a move in special. How late is too late to hold on to a losing investment? If this goes south it will be a lesson learnt in REI investing and I would pretty much conclude that REI is not the right avenue for investing, cut my losses and disable my BP membership. I got into this based on all the advise and guidance on BP which I am not happy to say but has turned out to be completely false. So much for all the investment of time and energy in listening to podcasts, reading books and actually taking action. It should not take this long to rent out a property and see positive cash flow.

Diane - the PM has already confirmed that they cannot change on Zillow. The update apparently is a syndication function that is automated.

Harrison Liu - what do you propose?

Folks - Has anyone had a similar experience as below?We have decided to offer a move in special of half of first month rent. You can check out www.crestcore.com/rentals and type in 7942 Marsha Woods Drive and the special appears when you click on the listing. However, it still does not show on Zillow, Hotpads etc. despite the update being done on Friday.  Trulia shows the update. The PM does not have control over the listing showing up on these syndicated sites. However, I hate to wait on the side lines and offer a special which does not get seen. Any ideas on what can be done to fix this so that the syndicated sites see this?

@Chris Westie You haven't factored a number of things on your calculation. Factoring in the below brings your monthly cash flow down to Negative (-$210) i.e. ($285 minus sum of all of the below). This is not a good investment in my opinion.

1. Repairs and CAPEX 10% per month = $135

2. Two months vacancy prorated for a month = $225

3. Property Management 10% per month = $135

Folks - Had my review with my PM for a detailed feedback on changes needed to move the property. The feedback is that its in very good condition and there is nothing additional that can be done at this time to move this faster as all possible marketing options are in play. I couldn't find this listed on rent.com and have reached out to my PM. The only variable based on f/b was that the price was originally higher but this has been dropped to $1050. In terms of stats, there have been a total of 18 rently showings in 31 days (if I count from Jan 14 when the ad was on Zillow) or 25 days (if I could from Jan 21 when the PM calculates as rehab completed and officially ready date). I think this is a fairly good number of showings. It is just a great feeling of inadequacy that there is nothing else in my / our control to move this at this time.