All Forum Posts by: Jason Mileshko

Can anyone give any insight as to what costar costs? I know it varies, and their website is very ambiguous, but I wanted to see if anyone knew what it would cost for a single license for a small investing business. I am interested in the full package with comps, lease comps, tenants, etc. In addition does anyone know any tricks for getting the service cheaper?

Is Kris Krohn  legit or another guru just scamming people out of their money, giving them false hope? Haven't found many reviews. 

Are bad news, according to nearly every experienced landlord I've seen chime in on these types of threads. 

However, it seems that many newbie investors (some with even less than my three years experience) like to chime in and talk about how great a deal landlords get when the tenants pay in full upfront. These types of replies got a lot of "votes" in a recent forum thread, implying that the community agrees with that sentiment, while more reserved opinions regarding the matter of accepting large amounts of rent upfront in order to overlook certain applicant weaknesses got much less love.

So, this thread is for experienced landlords. Can anyone relate personal stories, or anecdotes based on REAL EXPERIENCE, regarding tenants that are at least one full year old, regarding accepting rent upfront? 

I'd like to hear them. 

And, it's perfectly fair to say, "I had a tenant pay in full upfront because of X, Y, and Z. That tenant never gave me a problem, and I enjoyed the rent in full upfront, and they still live there problem free today several (more than 1) years later)." That would prove me wrong and the other enthusastic newbies right - that this is a perfectly reasonable way of doing business, with excellent outcomes for all involved.

But I bet not.

This discussion is triggered by another thread, " Would You Rent To This Applicant". A couple of investors with little more experience than myself seem to dismiss the caution of experienced investors that had some wisdom to share and "vote" for replies posted by newer investors that may not have had a full run with accepting a year of rent upfront.

My opinion: I listen to my elders on this one and would refuse basically any instance where a tenant offered to pay a full year upfront. My criteria for income, credit, and criminal background are quite reasonable for the area I operate in, and I am not willing to bend them. Any time a tenant offers to pay a year upfront is a huge red flag, even if they otherwise meet my criteria. 

I am looking at a home built in 1900 for buy and hold. I would like to know, what are the dangers of buying a home that was built that old. The home looks in good condition. One thing I observed is that the steps of the stairs are very small, I mean height and depth. Not sure, if there are any rental codes that this home have issues with.

Thanks,
Venkatesh

 Thank you Jason for your advice! What information would you suggest i know about regarding the area i'd wish to invest in  

Hi everyone, 

It's truly amazing to be in a community that is so brilliant and helpful. I have just joined BiggerPockets today and i could really use your help. i have read multiple books about property investing but i wish to take my education further, is there any free online courses available so i can take my learning to the next level.

Hey guys, 

First post here, I've been loving the knowledge I've gained from reading the blogs and can't get enough of the podcasts. I've been researching breaking into the STR market in the North Myrtle beach area. This endeavor was originally slated to be done as an LLC with 2 other partners. As my learning continued I realized the difficulty posed by obtaining a commercial loan; due to the LLC, the interest rate (as opposed to traditional loans), 25% down payment and the high costs associated with the "Condotels". I also learned lenders can be very selective with these types of properties.

We were looking to stay under the 200k threshold - 1 bedroom 1 bath ocean front properties. Seeing as this would bring a great element to anyone vacationing to MB looking to stay in an Airbnb. 

Since then I've changed my approach after doing some digging on different ways to strategically gain a loan without going through the LLC. My game plan is to apply for a second home/vacation loan for our first property. 10% down possibly 3% interest rate 30 year. Which is much more appealing to our bottom line and monthly figures. The idea of refinancing after a 7 year commercial loan with 25% down was simply too daunting and didn't make financial sense. Since we would still be acquiring as a team, we would all be on the loan and title.

As for properties after this one we would apply for an investment property loan: 25% down slightly higher interest rate but still better than the commercial loan. And again at a 30 year fixed rate. 

How does this strategy sound to you guys?

Additionally if anyone can recommend a good agent in the Myrtle beach area who has a focus on str properties which can cash flow I am all ears. I’ve checked the “agents” section and have sent out some messages but would love to see if anyone else has recommendations. 

I understand this is a pretty lengthy post however I feel if any platform can aid me this is the one. Looking forward to hearing from everyone. 

Thanks a lot everyone ! 

Anyone had luck finding commercial brokers on BP?  Not for finding commercial mortgages...but finding commercial properties.  I have a a few that I've closed several deals with but looking to accelerate my acquisition rate so I'm looking to form relationships with another 1-2 commercial brokers.  Wasn't sure if this site is mostly made up of residential investors, Realtors and commercial investors but not commercial brokers?