All Forum Posts by: Adam Black

Yeah, I agree with Mike, not to discourage you but you have a recipe for disaster on your hands. Be patient, the deals are going to be around for a while, maybe even better.
Maybe take this time to find a HML or investor to work with, learn the business, make some money. Kill two birds with one stone.

You win Josh! That is some road rash waiting to happen!
I thought my former career as a professional rodeo bullfighter was crazy! At least I got paid.

Ha, sounds like you and I grew up alike. Creating our own fun!

My kids were complaining yesterday about being bored so I told them, "come with Daddy, I am going to show you what we used to do" Probably not so smart!

http://www.youtube.com/watch?v=LL2l1wRcJ5o

One other thing I always recommend to "absentee" owners is compare apples to apples with your PMs to each other when pricing rates.
One huge thing that sets our PM company apart from others is that every 45 days we go into the proeprty to change air filters. While there we do a 20 point inspection that takes about 15 minutes but saves thousands of $$s when you consider all the little problems before they become big ones.
Might cost you an extra 2% or so a month but it is well worth it. (of course with us, it's standard so there is no extra charge! ;))

I agree, consider this your "get out of jail free" card and move on to the next deal. If you're having this much trouble making it happen, it proabbly isn't the right deal.
I have customers that invest with me that are alos buying in Stockton and they are finding sme great deasl right now, there will be another one.

I am very interested in this coming to fruition. But reasons are selfish, I would like to see what you guys look for in PMs and what you don't like so we can make changes to ours.

Mark, you're right, very weird deal. All we cal figure out is it is actually electricians using the wiring for jobs instead of selling the copper. Not really sure myself.
In this are we think we are experiencing a lot of thefts from subs. For example I had a 2 ton package unti stolen yesterday from another house. Not sure if you know what a package unit weighs bu this one was about 700 lbs. Not just your typical grab and go.
What I think is happening is that these people are in company trucks and the neighbors don't think anything about it.

Bought a foreclosure from VA the other day and thought I had found everything wrong. Of course it had no electricity when I looked at it so I didn't get to check any of it. Knew I was going to have to replace the breaker box but that was all.
Come to find out someone had stole all the wiring from it through the attic. I have had this happen before but this was a pro job. They had actually removed the light switches, unhooked wire and replaced the switches so you wouldn't notice. This way they got all the wires.
We were already doing some drywall work to the ceiling so I just had the guys drop the ceiling so the electrician have easier access no to rewire.
Thank goodness for overages on estimates! :wink:

I'm fairly certain you will see that this varies from person to person. I am sure it depends on if the borrower is putting oney down, if so, how much, etc.
As for our company, we are normally in the 8-10 range.

Hope that helps.