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All Forum Posts by: James Brown

James Brown has started 23 posts and replied 61 times.

Post: RentRedi Application Process

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25
Quote from @Jonathan Scheeler:

I have been using RentRedi for 4 months now with our 9 unit apartment building.  I would NOT recommend it for the following reasons:

1. No adaptability for pre-screening questions - remember that book that random bearded dude wrote on about managing rental properties.  Remember that section on pre-screening and application processes/questions. Yea, RentRedi lacks the ability to even get the prior two landlords without having to use an external form.

2. Application process - see above comments

3. Notifications/Communications - If a tenant submits a maintenance request, there is no linked communication route to that request.  You can send a push notification, but it does not link to the maintenance request

4. Fees - they charge your tenant quite a bit if they do not use ACH

5. Fees - oh, and did they mention they charge YOU the fees to?  Yes, they do, even though they don't say so.  Just got my 1099 for last year and those fees (to which we never received) were included (even the $1 ACH fee they collect).  Want to appropriately write them off as expense?  Good luck getting a W9 from them. 

6. Lease - yep, you will need docusign or another software as well.  Their "lease" signing is not actual signing, it is just a confirmation email.  So, add that expense to your list as well

7. ACH and the WTF that goes with it. Your tenants can set up automatic drafts for their rent payments, but make sure they do not set them up for the due date, as they will not process.  Why?  Who the frank knows.  Ed (owner) finally stated that it is because payments are processed the night/morning AFTER the date in which the tenant picks.  HOWEVER, they do not tell anyone that, so your tenants and you will be thinking WTF happened to their automatic payments.  

So, if you are not concerned about tenant screening, tenant application, lease signing, tenant payments, or being overbilled to the IRS for funds you did not receive, then RentRedi is the software for you!  They even have Latchel, to which I have not used, nor will not, as I am more concerned about basic landlord responsibilities over fluffy useless third party crap-ola.


 Thanks for the feedback! I've been trying to get my first tenant connected and payment through for months and finally was told we must part ways from support. I was going to keep trying after 2 months of back and forth but all your feedback let's me know why I should just bail out.

Post: Colorado Real Estate Investors Speakeasy Happy Hour

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

Attention all aspiring real estate investors! We're hosting a low-key event to get to know you all a little better.

Let's leverage each other's capital, time, resources, and experience to get more deals done. We are looking for like-minded people that are hungry and have great attitudes.

You will have an opportunity to meet local investors who are doing deals. Surrounding yourself with people that are doing deals is a great way to get started. We hope you will join us.

The Venue is a Speakeasy called BarKeep, located in the Penthouse of a historical building on the 16th Street Mall. (16th and Champa)

Come meet real estate investors, find deals, tell stories, network, and have a drink! Thank you, Kim Hubbard, with Merchants Mortgage and Lincoln Asset Management, for sponsoring Happy Hour! *First 80 RSVPs get a FREE drink.

https://www.meetup.com/denver-real-estate-investing/events/2...

Post: Long Distance Investing: Seek Partner or Turnkey Company?

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

We just did a big deal in Florida with an investor that didn't have the ability right now to get full financing. By working with us we got him the property which he is leasing and basically doing STR arbitrage until he can get his own financing and buy from us in a couple years. Any investor could do this and if they didn't want to manage the STR side they could use a team to handle that too and make it passive. There are lots of creative ways to make this stuff work for everyone!

Post: Long Distance Investing: Seek Partner or Turnkey Company?

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

What if you didn't need property management? Our model basically negates the need for it.

Post: New investor ready to purchase first investment property

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

We work with a lot of W2 employees that want to invest but don't have the time, knowledge, marketing systems or crews to dive in super deep into flipping or wholesaling. And don't want to deal with the headaches of regular renters or paying for property management. The ROI is great too. I'm happy to share our investor overview video if you DM me.

Post: Looking for REI minded Denver CPA suggestions

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

I love my CPA Mariane Harsh with Axiur. She is also a licensed real estate agent and has completely understood the challenges I face juggling multiple REI businesses. Happy to send you her contact info in a message so it's not a victim of a bot to be spammed.

Post: Newbies with $700K Cash

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

There are a lot of directions you could go. Which is both a benefit of real estate and a drawback because it's overwhelming too. It sounds like you want to get in and maximize profit and are willing to put in the time at this point in your journey. I've been in the same boat since I got the investing bug. I also looked into all the major ways to invest and had a hard time deciding which way made the most sense to me. And of course that will change for us over time.

Since you are in discovery mode you might consider taking a look at my favorite model in the SFR space. We call it Hybrid investing. I didn't come up with it, but it made a lot of sense to me so I got an amazing coach and turned it into a full time business where I help other investors benefit from it. Watch the overview video on our site and let me know if it's something that looks like a fit for you. I'm happy to answer questions. https://hybridrealestateinvest...

Post: Best strategy for first time investor

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

You are on the right track and there's some great advice from others here! Definitely read the BP BRRRR book and look into House Hacking - specifically what James Orr here in Colorado calls the Nomad Investing Strategy. He has a podcast dedicated to it. If all you do is that strategy while holding down a W2 job, you will be a wealthy person. If you add other strategies even better.

As you get ramped up you might consider our Hybrid Real Estate Investing strategy which is reverse engineering lease options. It's a nice balance between the benefits of flipping (without the high risk) and the benefits of cash flowing rentals without the hassles of dealing with regular renters (little money down and bugging you with maintenance and repairs).

I'm happy to chat with you about the Hybrid strategy as well as BRRRR and Nomad. You are on the right track!

Post: Newbie investor looking to network in Denver.

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25

Welcome to the BP family!

This is where I got my start and am grateful to the Big Cheese...Josh Dorkin (and Brandon) for creating this community. I've learned so much from networking and people ahead of me in the journey. I'm happy to chat with you about your goals and see how I can help. Message me directly and we can swap info to get on a call.

Post: Syndication Investing During a Recession

James Brown
Posted
  • Real Estate Agent
  • Denver, CO
  • Posts 77
  • Votes 25
Originally posted by @William Costello:

Still feel like syndications are not slowing down and are still a great investment option for some people @James Brown

That's good to hear things are coming back around on the acquisition side. I'm a believer in Multifamily and recommend them to my friends that are looking to invest in something stable. Of course "stable" comes down to the GP operator and the specific deal.