All Forum Posts by: Bryan Hartlen

We've had 3 properties in Birmingham, with qualified voucher tenants waiting weeks for housing authority inspections. One property has been waiting 8 weeks. Our property management company says (i) it's caused by Covid impacts to the housing authority (laid off staff, inspectors getting sick) and (ii) there's nothing they can do to try and accelerate the process or even inquire where in the queue we are.  Our pre-Covid experience had been tenanted and rented properties in less than a month.

Are others experiencing similar delays?

Is there really no way to at least see where we are in the queue?

Thanks @Jay Hinrichs.  Cold calling set of the scam warning which prompted the post. Didn’t even know about the up front fee.  That would’ve ended the conversation. Btw: I did search but nothing came up... I’ll try again with different spelling. 

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.