All Forum Posts by: Karl B.

I have a good amount of long-term rental properties and am under contract to close my first very own commercial property. 

The owner owes property taxes as well as IRS back taxes on the property and must pay them off prior to closing. The property was priced way under market and I offered what the seller was asking. 

We've had plenty of hold-ups as the seller must first close on another property and use those funds to pay off the taxes owed. 

Since I'm a cash buyer, luckily I don't have to deal with a mortgage, which would no doubt have been a pain as we've had to reschedule the closing date multiple times. 

Not knowing how to find good tradespeople/contractors and not getting enough bids. I see people overpaying tremendously for the work they have done on a property. 

I would look at population growth/decline as well and building numbers also.

Ideally, an area with a growing population and a lack of new builds tends to = improving neighborhoods. 

Also, once you have an area narrowed down by all means contact the local P.D. and ask for an officer who works in that area to call you and ask him/her some questions such as is the area improving or getting worse?

Apartments.com is pretty good. It's free and simple enough to use. Their customer support is solid as well. 

#2 for sure. Tell them you'll prorate June rent starting on the 15th of June; I've done this (telling tenants I only prorate a half month) and never had any pushback. 

Inventory is insanely low in my market and even crappy properties in the halfway decent neighborhoods are selling foolishly high. 

There are properties sold in 2017 that are practically selling for double. 

I need to do a better job of locating some deals off the MLS because it's crazy at the moment; though I'm still renovating properties I purchased so I have been busy, which is good.

I recommend Simplisafe (roughly $29 a month - I've found the best and cheapest place to buy the system is at Sam's Club). No contract and you don't need wi-fi. However, if there is wi-fi you can connect a Simplisafe camera to the wi-fi so you can view.

Even without wi-fi, having sensors on the doors and a motion sensor in the hallway goes a long way toward piece of mind. 

I love cash on cash return. Some of the haters hate it because their markets don't have it. Just like the 2% rule. 

I invest in C-class in an area where returns are great if you know what you're doing. They don't build much in my area and rental demand is strong; I also believe the landlord/tenant laws are fair and favor the landlord.

Of course, making the correct decisions helps solidify the cash on cash return (proper upgrades, strong tenant screening, etc.).

I buy a property, get it right and sit back and let it produce. 

Call AirBnB and tell them to go scratch their behind with a broken beer bottle!

I don't think I would be able to hand STR. The fact your scores are that high show you have nice properties and run them well.

James makes funny memes which is a good reason to consider him. 

I self-manage, mostly in Erie, but if I was going to work with a PM similar to James, I would schedule to visit his operation and tag along with one of his workers to get an idea as to the properties, potential issues, etc. 

A lot of people give their money to someone and hope for the best. Always check out the operation and do your DD. There are a lot of threads about Holtonwise on BP and I suggest you do your research so you know what to expect and to have an idea of how the business is run. The guy clearly knows his market and has been in business for a while but the more you know and see, the better (which is why I suggest checking to see if you can tag along for a day to see if you're a fit with his investment style and vice-versa).