All Forum Posts by: Bryan Hartlen

Had a cold call from these guys and answered the phone by mistake ;-/.  Wondering if anyone has had an experience with them?

@Peter Philando thanks for the update. The nextdoor app tip is something I hadn’t heard before!  Are you managing your doors yourself or through a property manager?  

It sounds like our strategies are similar. We’re building our portfolio and team in Birmingham first.  I’d like to diversify into another market in the near future - so we may be looking again in Montgomery.

We have sheriff sales still on hold in two different PA counties.

@Carlos H DeOliveira we buy distressed properties (3/1, > 1100sf) and target $30 - $40k all in (purchase + rehab).  3/1's rent for $750 and 3/2's for $800.

Like many markets Section8 demand is higher than supply in Birmingham.  Our first property was rented sight unseen in a week.  We're bringing 3 more online this month and are expecting they will be filled in less than a month.  If you're looking to buy turn-key, you can can select Sec8 as a criteria in Roofstock (I've never bought from them, so no idea how well that works).  

@Cj Powderhorn we did not.  My post was part of our due diligence on a market that Roofstock served.  We were looking to determine if we could count on tenant-in-place sales through Roofstock as a viable exit.  Unfortunately, there so little experience with Roofstock on BP (and and most other sources we tried) that we do not count on this as a factor in our analysis.  If we happen to buy in a market served by Roofstock, we may investigate as an option, but it's not a hard criteria.

We've been stalled. We have 2 that were non performers well before the shutdown... and were less than a month from scheduled sheriff sale in different PA counties that continue to be rolled later and later.  

Pre-COVID, we were selling similar notes on Paperstac at around 12% yield to buyer without any problems.

Most counties have an annual process for assessing and protesting. Go to the county assessors site and search for equalization or protest. It's generally a pretty straight forward process that most investors would be able to handle on their own. If you don't have the time and don't mind sharing the benefit any reduction then you could hire a company that specializes in appeals.

All depends on what you're looking for in terms of the size of the investment, active or passive, where in AZ and desired returns.  The Phoenix AZ multi-family market is screaming hot. Unless you can find an off market property directly, small (6 - 16 units), C class properties are asking for $100- 150k per door for a value add deal that *might* return a 6 cap once updated and stabilized. But if you can get in, rents are rising faster in Phoenix than almost any other market and if you sell you'll get the benefit of the low cap rate on your value-add.