All Forum Posts by: Ethan Anderson

Hey @Account Closed, I'm up for meeting in Mountain View or Palo Alto, if that's within your driving distance. 

I'm a newer investor myself, but I'm happy to talk about my experience investing out of state. And I don't have anything to sell you, so no worries there.

Ethan

Thanks for the note, @Spencer Gray. I have done a deal with Ivan, though not related to apartment complexes. Agreed, he was great to work with.

Hey @Jeff Wallenius, I'm asking as a potential investor. 

Hey BP, does anyone know of any syndicates pursuing apartment complexes in Indy?

Hi BP! Can I ask if anyone has good experiences with a Property Manager in San Jose? I'm especially interested in networking with PMs that have experience renting to San Jose State students.

Hi @Account Closedwould I need to charge the LLC a market interest rate, even if my preference would be to structure this as a zero-interest loan?

Hi @Harry Zhou, can I ask how you remotely rehabbed those Indiana rentals? Do you have systems in place that allow you to manage a rehab from CA? 

Thanks for your thoughts @Abhay K.. 

And @Dion DePaoli, I really appreciate the time, effort, and depth of analysis you provided. Can I ask if there is a standard due diligence practice, especially when the potential Buyer suspects the Seller has made an error? Should the Buyer start by requesting a copy of the Promissory Note & any Loan Modification Agreements, and treat those as the sources of truth for the underlying loan details? 

Hi BP,

Can someone help a newbie piece together the story behind the note data below? This is just a learning exercise for me, I don't have the education or background to seriously consider investing in NPN's, but I'm eager to learn more! This note caught my eye since the underlying real property is in my backyard.

Main Questions:

• Why is the note listed as "Non Performing"? It looks like there were 12 payments made over the last 12 months, including one on 9/20/16. Even if the 10/20/16 payment was missed, it can't possibly be 90+ days late as of today. 
• Why is the Principal Balance 40% higher than the Original Balance? From the "Note Dates" section, the loan was originated in 2005 but payments did not begin until 2016. Did the borrower take a loan for $160k in 2005, but not make a single payment until 2015, resulting in $63k+ of interest and fees being added to the principal balance? 
• Was is the $25k downpayment mentioned in the Seller Comments? Was this something the borrower has already paid the note holder, perhaps as part of a loan modification? 

I'd love to hear your opinion on the area south of 42nd St in Butler-Tarkington, especially if you are active in that part of Indy. I'm mainly considering a buy & hold or BRRRRR strategy.