All Forum Posts by: Bryan Hartlen

We're Canadian expats who have naturalized in the US. We have some funds left in Canada that we're considering investing in rentals in Peterborough Ontario. In discussions with a local realtor we were told that the government (I assume city or provincial) has imposed a cap of slightly more than 2% per year on rent increases AND for the most part it's the tenants decision on whether to extend their lease.

Does anyone in BP-land know this to be true or false?
 

We sold our first 2 notes through paperstac last week. The process flow took a little getting used to (post an offer, post a counter, etc) but once your through the negotiation part it was a piece of cake. I also posted their report on FB because I thought it was an excellent start.  Like @Jamie Bateman I think some of the data could be improved. For performing note sales, I'd like to see the average yield.

In general, an amazing platform that I expect will only get better as they incorporate feedback from users and more folks hear about the platform.

What numbers we’re not correct?

If you do decide to implement RUBS it will need to be part of your lease going forward.  You’ll need to spell out how usage will be tracked, what portion is yours and what portion is tenants and how the tenants portion will be allocated to each tenant. 

Did you try going back at a lower price?

@Jeremy Mattson

Get as close as you can in comps (maybe minus the acreage) and then make a conservative educated guess on the added value that your acreage adds to the mix.

@Matt Ward fun question.  I think @John Corey and @Alexander Felice hit this on the head. It's very much a function of time (or already established wealth). Having the $1M to sink into a single investment already makes an assumption that wealth preservation will be a factor in that decision. Whereas SFR investments are generally a vehicle for wealth accumulation.

So if it's my only $1M to invest, I'm probably not going to put it into a syndication. $1M not what it used to be.  I'm going to need to grow it and it's not diversified enough for me to sink everything into it.  I'm going to use the funds put some effort into it, assume the increased risk and grow it more than a syndication can offer.

If it's $1M of a 5M+ portfolio, I'm thinking syndication looks pretty good: asset based, diversified and completely passive on my part. I'm putting my feet up and hitting the beach.

Anyone?

@Bob Malecki we've had a combination of i) poor communication, ii) crazy billing (we once had a 45 min charge for reading and replying to a single email - 3 questions that we had explicitly instructed and worded for yes / no answers) iii) lying about who was performing work and what work was performed (they were job shopping our work to an out of state attorney) and iv) poor performance (weeks to subcontract and execute service).

Agree whole heartedly.  I wouldn't and don't... (and in many cases the adjectives also apply to servicers we've had).

If it's ok to extend the conversation, has any had any luck picking up an attorney that was working a NPN when you purchased it. We tried several times thinking it would save time and only found we had to go find (or use existing) attorney's.