All Forum Posts by: John Hagen

I have a lot of respect for you guys you do it on your own, I could not do it without my partners. To grow as fast as you have on your own is quit the feat. great job, thanks for sharing.

@Chris Mason these are both new tenants who claim they tried to pay in our office but no one was there, we can't prove or disprove this. our website, lease, and new tenant hand out say you have to pay online. they both claim they don't know how despite the step by step walkthrough hand out. One of these tenant paid part of his move in fee on our website and now claims he does not know how to pay. I equate this to amazon saying you can't mail them cash to buy something, but i'm not a lawyer.

@Jake Thompson 2 tenants are late and they claim they don't know how to make online payments in 2018. We sent out 5 day notices today and they told one partner who told them to come by the office tonight to pay, to which 2 of us said we can't do that.. I think our solution as of now will be to let them use our computer to set up auto pay.  Both tenants are in their 20's.

We are having a minor partner conversation, not a fight at all but maybe there is room for improvement and I’d like to hear what you all recommend. Of our 5 partners we have a 2-2 split and a 5th sitting this out. A husband and wife team is split. We all want what is best for the business.
 
Our current lease requires that all rents must be paid on our website or our app. We will not accept any payments in person or by mail, however auto withdraw is an option. We have 2 new tenants who do not seem mentally capable of paying online. One of my partners says it seems unproductive to evict someone for not being “computer savvy”. My argument is they had to fill out an online application and set up and account on our website to get the apartment and if they can’t figure this out how can they hold down a job to pay rent. I also worry if we make exception to our lease then we open ourselves up to legal issues enforcing other parts of the lease. There is also the concern with a partnership and taking taking cash, I don’t think any of my partners would steal but we worry that a tenant will claim they paid cash to one of us and that’s a fight we don’t want.

When our tenant move in we give them a sheet that tells them how to pay rent, it says :

Go to website “www.blahblah.”

Click on “Pay Rent Online” and sign in

Click on payment tab
Pick payment type ACH (eCheck) or Credit Card

Make payment

I believe I’m right and my partners are poopyheads but we can always improve. Does anyone have experience here, have things they tried or any suggestions.

@Derek Dombeck How do you go about starting the process? who do we need to call?

I was driving into town this weekend to look at a property for sale and I saw another house with an over grown yard, and a paper taped to the door. I talked to my partner,@Michael Beeman and we went to investigate. The paper was a notice that the house was winterized and it looked empty. The siding looks 5 years old and the foundation looks in good shape. It needs a new roof and the porch replanked. We decided to get aggressive on the property, but this morning we found out it is owned by HUD.

 
While I did do some contract work for the Carson campaign in 2015, I don't exactly have his cell number to call him up and make an offer. Does anyone have any experience buying from HUD? If we buy from HUD does it have to be Section 8 or can we take full control?

Thank you for your help!

@Chang Hee Lee I'm not a member I'm from Mattoon and invest around Casey and Robinson. However I am interested in hitting up a few meeting when my schedule permits. I like your idea for a more casual thing just a few investors hanging out and talking over coffee or beer.

@Chang Hee Lee I just found out today that thers is a cham-bana REIA look on meetupDOTcom for

I would love to share our bankers info but it would do no good. When I said local bank I meant it. We were turned down by them for a loan an amazingly undervalued and cashflowing property in Vincennes IN because it was "too far away" it was a 45 minute drive from the branch office.

With out question we have caught some very lucky breaks not least among them is finding an aggressive banker and a contractor who views our relationship as a partnership. We also lucked into the right timing of boomers looking to sell.