All Forum Posts by: Jonathan G.

@Jordan Greek

We have often supplied and been responsible for refrigerators and ranges in our single-family homes. We do often leave a washer and dryer in the unit as well for convenience but it’s in the lease that these are there simply for the renters convenience and we are not responsible for repairs or maintenance. If they want to put in their own washer and dryer, we will happily remove the ones that are already there. If they break (which washer and dryers often do) then they can either fix it at their own expense or replace at their own expense. The important point is is that it is clearly outlined in the lease so there’s no ambiguity when something breaks in the future



@Justin Stawarz

What’s your lost cost? What ever they were, seems like your X amount of dollars saved you from a $7500 loss plus time and headaches. I bet if you took a hard line and walked away from the non-reduced deal, you’ll be better off or maybe even get the price reduction that was requested. What I would do is send a certified letter to the agent and broker notifying them of your knowledge of the “oversight“ that they made so it can’t be “overlooked or omitted“ when the house goes back on the market and I would also ask for my earnest money back.

@Jayden Hamilton

Seems reasonable to fix.

@John Mazzella

The consistent words I look for in the PPMs in regards to refinancing are “equity “ and “capital “  and how each one of those terms are specifically defined within the PPM. For instance, if I’m in a deal and I have a preferred return of whatever percentage, then if they refinance and return my “capital” then I still expect to get my “equity” payout at upon final sale some years later but since my capitals been returned, I’ll no longer get that preferred payout. This is fine, because I can still have equity in the deal and take the capital and reinvest it in another deal.. There’s no way I would ever invest in a deal that has the capacity to unilaterally buy out my equity since I’m putting up a lot of the risk in the early cycle of the property / fund. 

@Nick Nalette

Move along to another agent.

@Sadierose Lemire

Not a tax person or CPA but have you considered opening a Connecticut 529 with yourself as as the beneficiary (assuming that is your State of residency and you have W2 income) and then taking the $5000 state deduction (10,000 if you’re married) and then using those funds to then subsequently pay up to 10K in your school loans as allowed under the CARES Act. Could save you about 500 bucks on CT State taxes.

@Andrew Syrios

Funny! Everyone here is making "money " or "equity ". Different strokes but eventually , everyone is getting paid. Gotta love REI.

@Andrew Syrios

Why would you “buy” equity when cash flow can make you more money. For example, if you Invest 100 dollars into your “equity” each month get all that money back in 10- 15 or 20 years, you actually lost money because of the time value of money.

1200 dollars per year x 20 years =$24000

1200 dollars per year INVESTED X 20 years = just over $69,400

Now let’s just say you’re really motivated and you wanna invest those $24,000 into your equity right now, well in 20 years, it would probably would be be equivalent to less than $10,000 when compared to the current years purchasing power.

Equity is dead money that’s not working.

@Jasmine Hieke

It just depends on your risk tolerance, how much chance you want to tak e, and how many red flags your willing to ignore. What is your particular motivation to rent to this particular applicant?Personally, one red flag is enough for me to move onto the next applicant. Also, are you screening each adult that’s going to be living in the home?

@Jasmine Hieke

You are assuming the SSN they provided to Core is their actual SSN’s. I would be concerned these are potentially professional tenants and would move in to the next applicant. Have your screening criteria and stick to it.