All Forum Posts by: Jeff McCaskey

@Matt Vaughn 

Something that you could try if you want to mess with it and as mentioned don't want to store them for another project is to find out if your area has a Facebook buy sell trade site and join it, post the pic/add and go about it that way. It usually works well for me in my area for just about anything. I even post my rental units there and get quite a response from it, its always worth my time.

@Michael Paul Hey i'd go to or call the courthouse speak with the deeds office and ask them how it's handled in your area. They might not know right off the bat but someone can find an answer. Or legal council as mentioned.

@Jeffrey Diaz 

Hey welcome to BP and investing. I can't give you any advice on becoming an agent but you can use the search box at the top right of the screen to find some other posts that might discuss the subject.

Good luck!

Do more networking to get in the loop for word of mouth too.

@Matt Vaughn 

If you have a seriously limited budget you could leave the other 2 walls and go on.

Otherwise I'd say that @Joe Martin has it hit right on the head. 

Sounds a bit funny maybe, but all my places are pretty old, so if I have the need to rip them apart for a remodel etc etc I don't hesitate to pull them apart and see what's going on behind them. Once had a hinge side of a door that the stud wasn't nailed at the top. Was replacing the door anyway actually but you know, there are things you find that you end up being happy you found afterward.

@Brian Mathews 

Wow!!! Looks like you have had quite a response to this one.... I didn't have time to read through everything but you will gain quite a lot by managing your own units, at least for a period of time anyway.

You will know what its like to do the work and why its worth paying a PM when the time comes. And.... know what to look for to have the job done right or what it looks like when the job is done wrong, before you end up with huge losses from vacant places or mismanaged property.

Try it out and see how it goes, learn a little, then let someone else do it for ya

@William Crites 

Hey William don't get down about it. It's ok and you don't need to sell the property.

These guys on here telling you to go find a "portfolio lender" are correct with their information. They will be happy to help you and refi all your deals as long as, and you know this one already, that the DTI (debt to income) ratios match up for them.

The big banks and even some smaller banks that don't keep all loans in house will throw some sort of stupid illogical fit about this stuff no matter where you are in the country.

Find ya a portfolio lender and go get em!!

@Peter Fokas Hey man it would be great if you filled out more of your profile so we could check on what you're doing and what your goals are to give some more focused advice when you post with questions. But you're asking and that's what really counts - so I give you that my man!

I don't know what kind of property you are buying and I don't know what condition it's in. But I got started by purchasing distressed property and with respect to the insurance, I kept mine low by getting cash value policies. To be honest with everybody it really doesn't matter to me if the house burns down or falls down in a tornado or is destroyed by an earth quake etc etc. To me, this is investing and you make it work however that ends up, at least when you're starting from nothing that is.

So if you have to trim costs, then you can trim them in all sorts of ways and insurance is definitely one of them. So let's say you owe an individual or the bank 50K on a property right..... Why do you need a replacement cost policy for 400K????? Truth is..... You don't!!!!! All you need is enough insurance to cover your liabilities on the property......

SO WHAT YOU DO IS....... You go buy a policy to cover just enough for what you owe on the property plus some fudge factor because you might have to clear the lot when there is a catastrophe. Owe 50k then buy a 55k policy. Not only will your premiums be pennies compared to a full coverage policy but you can make a claim and pull the cash out for things that come up with this or other properties. Because S H I T happens..... You will soon be paying 40$/mo instead of 180$/mo.

So what if you don't have the property any more after a fire etc etc. you don't owe any money now bc the debt got paid off and the lot is cleared and now you can sell the lot or develop a plan for new development. Option is yours....

That's my opinion on the subject - however if you have newer property this might not be the path to travel.....

@Stephen S. 

I'm not really sure what to say to you on this. I'm a little confused as to which way you're coming off. If you are trying to be a jerk then you should seriously reconsider and just back up turn around and head the other way. If you are simply discussing the post then ok, but I can't decipher tone of voice via text on a screen.

First of all I guess it doesn't really matter to me if  get used as a reference or not. I was the last landlord and if the next guy is actually doing due diligence then he would acquire that information through and application and then check on that persons history, unless he doesn't want to put in the effort or doesn't care.

You said @Stephen S. I do call, or or have someone call, but now that you mention it: I can't remember the last time someone called Me. <g>

So that's my point about starting the post, I call everyone - getting ready to right after this reply in fact, but...... nearly none call me. So if you have this 50K 100K 200K investment that could/would cost thousands of dollars to repair if it were trashed, why would you not check on previous history?????? I don't get it, I'm baffled on the subject and so I created the thread......

And from the posts it looks like there are a wide variety of responses to that question, but still looks like there are a number of people who just don't bother with it.

It was just a conversation piece and a good question and I wanted to know what others thought - it won't change the way I process applications at all. I try to eliminate as much risk as possible.

That's that I guess

@Jordan Decuir 

Just make sure you have done your homework before purchase alright!!!