All Forum Posts by: Jassem A.

lol

why would you need a team?

Manage them yourself, go to court yourself and fix them yourself and/or use a cheap handyman. Next time do a lease option that doesn't include maintenance and try and make the tenant-buyer responsible for the repairs. You will probably still be required to provide maintenance at the end of the day most likely but it should relieve some of the burden because they understand your intentions going into the deal.

Does BP moderate the AI responses at all?

Time for a paint party. Supply paint, pizza and beer and you should save about 4 grand but results may vary.

Another option is just to paint the areas that look the worst and attempt to match existing paint colors--this is usually what I do if anything at all.

Sounds like it's time to switch to mid term rentals or to 1031 somewhere else. Does abnb even let you enter in a 30 day minimum? Might have to switch to whatever platforms do allow this.

@Nicholas L. I don't brrr anymore but when I did I would usually buy foreclosures with cash and then do the work myself before leasing them and then borrow about 2-4 times what I had into them. It worked for a while until I got to over 20 and then became too much headache with maintenance. Now I just do owner financing and it usually doesn't require any maintenance especially if I am not on the title. If I do stay on the title then it's usually only grass and cleanouts and occasional repairs but I still do those myself.

@Nicholas L. higher interest rates should mean better deals since less people using bank leverage to buy. It is also better not to use leverage when originating notes because there is less risk and most lenders would not allow that anyway.

Seller financed deals. Offer to pay them off in 5-10 years at a higher interest rate. I know one person that did this recently and was able to negotiate no money down and 12% over 5 years but this was probably in the mid west. For more expensive properties you'll be wanting to pay a lower interest rate and doing short/mid term rentals.

@Ryan Daulton No problem, this will be the case anywhere you can find livable homes under 50k and with a population that is not on a quick upwards trajectory. People still want to live in these areas but it may not be easy for them to qualify for a mortgage or the banks may not want the particular property on their books because of peeling paint, loan amount, etc.