All Forum Posts by: Angie Anderson

I just signed up for the free version of Avail and I am finding that I'm unsure if I want to use it after tinkering around for a day or so. I used myself as a test dummy for one of my units and IDK, I just don't like it from both the Landlord/Tenant perspectives. From the tenant side, it's a bare bones, basic portal which is fine. I wasn't expecting a super intuitive user experience, but they found a way to through some advertising for stuff in there of course. What I didnt particularly like was the reminders to fill in data. I have inherited tenants and have there basic information already, so to get nagged about entering in information was not ideal. From a landlord perspective, there are limited features for accounting. I dont want to have to manually input income and expenses when I have an acount connected already. The income input really got me...if Avail is collecting and trackign the rent, why do I still need to input income, that makes no sense. There were some other little things that annoyed me in terms of completing the tenant profile, but those were minor.

Having read the comments on Rent Redi, I thought I would get the auto accounting feature. But the consistency of reports buggy system has given me pause. I just want to collect the rent online, an easy way to organize tenants and maintenance, and basic automated accounting without paying an arm and a leg. I might have to piece-mail this thing like some of you all are doing. 

I use the REPS Tracker (www.repstracker.com). Its a simple program that allows you to track your hours per property from acquisition to active management. You can upload photos, receipts, call logs and just about anything to support your entries for maintenance, networking, etc. Helped me see how much work I was actually putting into it all very easily. It also has an app as well, so its easy to use live and on the go as well. Costs $15/mo or you can do an annual subscription which I did cause you save 20% and I deduct the cost on my taxes. They have a 14 day free trial to check it out and play around a bit. Hope that helps, it's def better than the spreadsheet and shoe box for receipts. :) Good luck!

Thanks for the response, I appreciate it!

Hey family,

Need some help from the more experienced investors out there. My dilemma in a nutshell is: I let go of a contract because the seller did not meet my terms on inspection repairs. Now a month later, after moving on, the seller has agreed to meet my terms, only now interest rates have continued to up and stuck. Below are some details.

Original Deal

$345k at 2.75% with $5k in seller concessions

After inspection, asked for $14k in repair costs.

Seller said no.

Current Deal (he's like a bad ex)

$345k at 4.125% with same $5k seller concessions >:/

Now agrees to $14k in repairs

Bottom line, this is appx $250/mo loss in cash flow. The numbers still work above 12% COC but I'm @$$ hurt with the loss because of no fault of my own! The seller is also an investor and I suspect he knows he stepped in poo by letting the contract go a month ago, no he's scrambling. My realtor calculated he would also need to drop the sales price by $40k to break even with the previous deal, which I highly doubt he would entertain. Better to shell out the $14k then deal with the $40k loss.

My question is, how do I negotiate this and what's reasonable? I'm equally not pressed having let the contract go before...I can simply walk and keep searching as I have been since the contract fell thru or I can shoot my shot and I've lost nothing if he says no. Looking for reasonable ways to attack this.

Thanks family!

Hey family, 

Need some help from the more experienced investors out there. My dilemma in a nutshell is: I let go of a contract because the seller did not meet my terms on inspection repairs. Now a month later, after moving on, the seller has agreed to meet my terms, only now interest rates have continued to up and stuck. Below are some details.

Original Deal

$345k at 2.75% with $5k in seller concessions

After inspection, asked for $14k in repair costs. 

Seller said no.

Current Deal (he's like a bad ex)

$345k at 4.125% with same $5k seller concessions   >:/

Now agrees to $14k in repairs

Bottom line, this is appx $250/mo loss in cash flow. The numbers still work above 12% COC but I'm @$$ hurt with the loss because of no fault of my own! The seller is also an investor and I suspect he knows he stepped in poo by letting the contract go a month ago, no he's scrambling. My realtor calculated he would also need to drop the sales price by $40k to break even with the previous deal, which I highly doubt he would entertain. Better to shell out the $14k then deal with the $40k loss.

My question is, how do I negotiate this and what's reasonable? I'm equally not pressed having let the contract go before...I can simply walk and keep searching as I have been since the contract fell thru or I can shoot my shot and I've lost nothing if he says no. Looking for reasonable ways to attack this. 

Thanks family!

 I appreciate the feedback, thanks!! 

Hey BP fam, need some help/input. To ARM or not to ARM. I've read a bunch of Pros and Cons for going with an ARM or not. I'm under contract currently on a 4-plex for $345k. I've been offered 3.625% fixed or 2.75% 5/1 ARM with 1% increases capped at 5%. So here's where I deliberate. Under normal circumstances, I would of course go for a fixed 3.625%, especially now as rates go up and stuck. I'm military and will hack this house for 1.5 years tops, but once I'm stationed somewhere else I will never return to this location again. This will be my first of many MFM and realistically, my exit strategy was always to hold this for 5-7 years and then either sell/cash out to spring board into something bigger. If I was going to keep this for 30yrs, this would be a no brainer (fixed), but that's not the case. I'm very aware of the dangers of potential increased rate and have ran my numbers with the worst case scenario with the value as is. Its not ideal but not horrible, given potential rent increases over the years. I'm finding it hard to not consider the ARM, given my analysis and exit strategy. What yall think? Appreciate any and all feedback.