All Forum Posts by: Fred Jacquet

Hey Lawrence, 

I haven’t used rent ready or tenant cloud, but I am a couple of months into avail and it is going well so far. I already had a tenant selected, but It has the ability to post to all of the major tenant acquisition sites and it appears that it allows for application management, background and credit search info and standard lease agreements. It appears that they also offer a service to reach out to past land lords. There are lots of tailored features such as automated late fees, maintenance request submission and management and communication tool to connect with tenants. The checklist of post lease activities was convenient and it alerted tenant of things like utility transfer and insurance. 
Tenant receive instructions on setting up and they links accounts and set up payment. You have to pay $5/month/property to have fund available in 24 hours vs 4-5 days. FYI the initial payment set up took about a week, but customer service was responsive and helpful.

I’m still an early user, on a newly rehabbed single family, but figured I’d share my experience so far.

Best of luck on journey.

Thanks @Andrew Postell, I was getting that feeling. you read it correctly, but It sounded better in my head than on paper. I'll stick to my offer and see if he can finance the buy. Thank you Fred

Newbee question

I have prospective seller who is looking to sell his family home and he has offered seller financing.

The property will need some renovation, so I'm trying to work out how I purchase with seller financing at a deep discount and offer as a recourse to the seller the benefit of seller financing at the ARV to the end buyer.

Logistically, how would could this work, so that I can take advantage of the seller financing terms for the short term, get the repair fund and holding cost and then facilitate seller financing on the ARV.

Any thoughts would be appreciated. Let me me know if further clarity is needed.

Thanks

@Morden Walters I’ve worked with Tim Goetz (in West Hartford) on my last 4 deals and he has been great. In additional to his work ethic and responsiveness, he has a decent network and has been able to fill in gaps when I was in a pinch.

I’m working on a deal for a non conforming lot with a 1, 2 and 3 family building on it. At this point all cash and owner financing are the only options that I see. The seller are not onboard with owner financing, but they have not shot it down completely.

Their initial concern is mortgage default should something compromise the grandfathered zoning and we are unable to recover and maintain payments.

Is there any type of private mortgage insurance that is available to provide them with that some security?

Thanks in advance for any insights

@Mike Reynolds

The help is much appreciated, I’ll reach out to Mike and Ethan.

Good to hear about the climate of the town.

@Mike Reynolds thanks Mike

A family friend had a dear friend who recently passed and they are left my friend with managing a property in Lufkin, Tx. They initially listed it, but they would pass it on to me as an investment. There is a 1000 sqft property on it, but it would need some work. I'm debating on the strategy here, but I can't say that Lufkin is a destination that I frequent, so I'm seeking some local insight.  The property is not far from Hubbard airport.

Anyone have Insight on the SFR rental market? Google searches would say that it is strong, but I'm assuming that if varies from street to street.

Are there many property managers in Lufkin 

Are there many local investors in this market?

Any help would be appreciated.

Thanks, Fred