All Forum Posts by: Kyle Litz

I'm in Saratoga county, be glad to come down if the time is reasonable.  When and where?

It's kind of hard to consider not having any sort of repair costs without seeing inside photos, any details on date of when the roof was repaired, etc.

Hi Samantha,

I can sure understand your frustration at finding that out, somewhat last minute.  It's not completely unusual for multi-unit properties.  For example, a nice article on the requirement can be found here.  Essentially the bank/credit union is making sure you have the reserves for vacancy.  If you show them your business plan wherein you are accounting for reasonable vacancy risk, maybe you can get them to come down on their total requirement.  In their eyes it's simple risk abatement.  But to us, it's yet another hoop/hurdle to jump.  Good luck.

I used Guidant Financial to set mine up, I don't think they offer that as a product any longer.  I have heard good things about Kingdom Trust.  If you go down that path, make sure you weigh in the fees.  This link has some good info re: using SDIRA for REI.

Here's a link with some reviews.

I've been looking into them myself as an alternative to REITs.  

Also found some good information from Kenyon Meadow's book, "Alternative Financial Medicine" quite helpful, particularly on page 54 and after.

While the reviews are informative, one must always do their own due diligence.  In my research, I have come across a common complaint: lack of liquidity.  Buyer beware.

A bright paint over that brown will do wonders.  A simple light bleaching of the asphalt shingles will take the stain out of the roof (before the painting obviously).

I finished my 30 day trial on it.  I used all the features (except the contracts, they block that part out in the trial).  On a scale of 1-5 stars, I give it a 3.5.  

The pros:

The software design and features are top shelf.  The code behind it must be awesome.  The team that designed and wrote the software did a fabulous job.  It's like sitting at the controls of a car.  Everything is easy to find and the process from lead generation to closing is seamless.  For lead generation, you can select the target audience, set your desired features for properties to go after, and then filter by various useful criteria.  After that, they have integrated into sending postcards and other media to the target audience.  I took advantage of that feature and sent some lease option cards to a select audience north of my usual territory.  I saw a significant increase in my website activity coordinated with the delivery date.  I was impressed with the software.

It has a built in CRM which I thought was a bonus.  Other useful features include information on prior sales and existing mortgages on properties.  They also have an offer estimation engine for various strategies of creative deal-making.  Here's a short list of just a portion of the features from:  https://www.myreipro.com/pricing

• 10 Step Workflow System Installed
• REIPro Home Value
• Rent Value
• Property Details
• Tax Information
• Mortgage Info
• Transaction History
• Street View
• Real Comparable Sales
• Recorded Sales - Not Estimated Values
• Free Phone Number Lookup
• Cell Phone & Non-published Numbers
• Nearest Relative Phone Number Lookup
• Seller Phone Scripts & Questions
• Get Offers Accepted with Our Multiple Offer System
• Make Cash Offers
• Make Lease Option Offers
• Make Seller Finance Offers
• Print Offers on Demand

The Cons:  For me, the $1068 for the year was just over what I wanted to pay.  I'd pay $600-$750 for the year, but I'm a cheap bastage. ;)

Overall, for a beginner with money I highly recommend it as a One-Stop shop.