All Forum Posts by: Franco Li

I understand she is not being responsive, but perhaps give it a couple more days and see if you can have a conversation with her, and if she still does not respond then you'll have to pull the stops. I understand how troubling it is that she doesn't respond, but evictions are always sensitive, and keep in mind that she cannot stay in their forever. If your hard deadline comes and she still doesn't respond then perhaps you might need to just being the eviction process. Unfortunately, conversations might not always work with some people - especially those who refuse to work out a strategy with you. Good luck!

@Bradley De comarmond

I think one of the issues with finding investors (as an investor myself) is you need to have some sort of track record (reviews really help with confidence) and the numbers must work. In saying so, I think for you to attract more people to your business is simply building it from scratch, and word of mouth will definitely help you grow. More importantly, you have to provide investors with the comfort that your proposals make sense, and you use evidence and transparency to promote that. PM me, we work with agents all over the country and may be able to help you in this! Good luck!

If she is staying for 30 days and leaving after, then it seems like you got the best sort of situation pre-eviction. Your deposit should cover that month's, and you can probably start sending feelers out for a new lease. If you really like her as a tenant - although it seems she is not too responsible - you should just have a conversation with her and discover a strategy that works for both of you. It seems to me there are many investors who like to draw the line and build a wall between the lessee and lessor, but I think communication will really help both of you guys. Best of luck! 

Hi Everyone!

I am the founder of a real estate analytics startup called DiviSmart.

As a real estate investor, I've found on numerous property hunts that investment-related information is not too obvious, and certainly not provided by many brokers/agents. DiviSmart wants to make real estate transactions as transparent as possible, so we work with both investors and agents to provide independent and unbiased investment analysis - think CarFax or a Moody's/Fitch Rating Agency for personalized real estate!

Agents use our services to promote an honest investment valuation on their listings, and investors tend to use us as a benchmark to validate these opportunities.

Here's one we did for an investor in Brockport, NY:

http://divismart.com/viewreport/divismart/61-westw...

Let us know if you or your team have any questions or is interested to learn more. We are re-pricing our business as we add additional features, and would be more than happy to explain more! Happy New Year folks!

Sincerely,

Franco Li

Co-Founder

The seller doesn't really care your source of finances as long as they get the check in the end! Good luck!

It's not atypical for lenders to require you to set aside liquidity or prepay other fees, and do another appraisal. From their perspective, you have a great credit score and solid income, but you're still a human being. If I were you, I would look for another lender if you think this one doesn't suit your needs (more on pricing really). Are you working with a national lender or a local?

Hi Everyone!

I am the founder of a real estate analytics startup called DiviSmart.

As a real estate investor, I've found on numerous property hunts that investment-related information is not too obvious, and certainly not provided by many brokers/agents. DiviSmart wants to make real estate transactions as transparent as possible, so we work with both investors and agents to provide independent and unbiased investment analysis - think CarFax or a Moody's/Fitch Rating Agency for personalized real estate!

Agents use our services to promote an honest investment valuation on their listings, and investors tend to use us as a benchmark to validate these opportunities. 

Here's one we did for an investor in Brockport, NY:

http://divismart.com/viewreport/divismart/61-westw...

Let us know if you or your team have any questions or is interested to learn more. We are re-pricing our business as we add additional features, and would be more than happy to explain more! Happy New Year folks!

Sincerely,

Franco Li

Co-Founder

How about before all of that, just talk to them first and have a normal conversation, get a feel for what they do and how they are treating your property; and then make a decision.

I have a pretty interesting strategy for you if the place is in decent shape and you have some tenants in there already. You take out some equity on the condo, which seems sizable anyway, and use the money to buy 1-2 properties that provide positive cash flow. You'll have 3 properties to work off of which is a pretty good portfolio to start with. From an ROI perspective at least, this makes the most sense to me. Good luck!

Rentometer takes users expectations as data points and may not necessarily be accurate. In fact, zillow doesn't seem all too accurate either in some cases. Your best bet is to speak with some property managers who have legitimate experience in the area. In any case, it would be good to network with these folks!