All Forum Posts by: Mark F.

Quote from @Jason Monaco:

Has anyone heard anything? I think court was April 29th and Jorge said the ruling would come a few days later.. this is on whether or not the RICO stands.

You can read at the link below but it may be another week or two, if not longer. I have quite a bit of experience on when a judge wants to rule and it’s on their timeline. Jorge will update us as soon as he gets the ruling. If you don’t get the email, you can assume the judge hasn’t sent out a ruling yet. 

https://ahpservicing.us9.list-manage.com/track/click?u=d44d7...

Two practical things (one that I did and one that I will do) to help. 

First thing I did was install a device my insurance company gave me for free called Leakbot. It’s an app and a device that attaches to the main line and detects leaks and they sent out a tech for free and they found two leaky toilets and one shower cartridge. My average water bill went from $230 to $75 per month. I’m sure there are other devices that’ll do the same thing. 

Second thing I will do is to buy these and install them in the future. It’s water meters installed on the pipes so you’re separating the bills and can choose to send the tenant to the bill or you pay and they reimburse you. Problem is it’ll depend on your setup on where you can install them. Hopefully you can put them on and no other lines going in or crossed. Link below. 

https://truesubmeter.com/

Quote from @Zeth Daniel Vanegas:

I’ve been thinking about this a lot lately:
If a tenant moving out destroys our cash flow, why is that considered “normal?”
Isn’t that a broken system?

Two months of no rent.
Thousands in repairs.
Weeks spent finding someone new.
And we just call it part of the business?

What if there was a way to set up your lease—and your tenant relationship—so that you didn’t have to restart the clock every year?
I'm realizing it's not about avoiding turnover completely...
It’s about choosing tenants and agreements that make turnovers rare (or even unnecessary).

Curious if anyone else has made changes like this?
Would love to hear what’s worked for you.

 Dude just shoot your shot already. Your profile reads like a YouTube ad. Anytime any person starts off a video or types the phrase “what if there’s a way…” we know a pitch is coming. 

Quote from @Andrew Frishman:

I can never get a definitive answer from AHP.... I just get a series of Emails with details about court visits?        Im assuming I am never going to see my capital again??   Anyone know anything I dont?

You won’t get an answer because they went from about 50-60 employees to 2. Yes, two employees. The CEO and some lady. Those two are probably prioritizing fighting the legal battle with the attorneys than answering the hundreds of emails they get from investors asking the same question over and over and over and over….

If they answered all the questions that came from us investors, they wouldn’t get anything done. Instead, just read the emails on the court updates and that’ll have to suffice. Once in a while (every 3 or 4 months) the CEO will do a webinar where at the end, he answers the same 5 questions people ask where he answers them in the beginning info part of the webinar. The main attorney will usually join too. Until then, sit back and act like the money is gone. And yeah, I have money invested too. 

Quote from @Jason Monaco:

Does anyone know what the ruling was from the trial at the end of April on the RICO case…

Edit- AHP just sent an update via email. Guess a ruling was not issued. 

Looks like a ruling was issued May 6, trying to dig up the ruling now. I assume it’s not good news if an update wasn’t sent but could be wrong.  

 https://www.pacermonitor.com/public/case/56655965/AHP_Capita...

Have had one for about 3 years. I purchased a mortgage note first then invested in a mortgage note fund, which coincidentally the fund operator has posted in this thread. When the fund redeems, I plan on purchasing more mortgage note(s). Biggest problem is putting that $7k contribution limit to work. That’s why a fund has made sense so far. 

Sunny! Nice man congrats, not surprised you took the DRP in your situation. I'm at about 75% where you're at on gross rents and property values. Unfortunately I'm not clearing as much as my PITI is 40% higher than yours. Trying to buy another multi this year which would get us that much closer though. You had a 5 year head start on me which helps. Great to see your numbers and wish you the best of luck. Let me know if you need anything.

Quote from @Scott Trench:

Just trying to see if it's a Buyer's Market out there yet for folks - I think it is for me, specific to Denver Multifamily priced over $750K.

We had to offer $150k over asking on a SFR non rental and the appraisal came back at offer price so no, it is not a buyer's market where I live.

This is after almost a year of offering on houses and losing. Finally realized my realtor was not fully grasping the market and how competitive it was.  

Since I’m your target demographic I’m going to say probably no, I wouldn’t use it. Why?

For one, the software I use is free. I don’t care that they collect data from me as it’s automated 99% of my rent collections and late fees. Two, I’ve never had any major issues with the software. It has other features I just choose not to use. One tenant had an issue at first but it was worked out quickly. I’ve been using this software for about 4 years with about 10 different tenants so sample size is decent. 

This may be part of later versions, but it’s nice to upload leases to their portal just in case and I adjust rents when needed via their website since they don’t have an app. Maybe if I was starting out and this was offered I’d try it but I wouldn’t go from what I have now to your platform more than likely. A dedicated google voice number that has a local area code is what I use. 

Edit- rereading your initial post, I assume your platform would have an app or a website that the property manager/owner would use and the tenant only uses texts? That is interesting and I think could gain traction. Personally I feel as an owner I’d have to have an app or website but makes sense for a tenant to use text only. 

I’m taking the opposite side and say no compensation should be given. It’s a structure with 4 walls, a roof and a floor with mechanicals all around. Things will break, leak and get damaged. You said you promptly fix the issues when they were brought to your attention so you took reasonable actions. Are these things you could have reasonably prevented? Doesn’t sound like it.  Did they cause damage to their stuff? Same answer as above.

If a tenant doesn’t understand things break and will require fixing now and again, they need to move into a brand new build. You said you’re having them move out at the end of their lease, would they not expect things to break in their next place? 

I’ve had countless maintenance and repair requests over the years. I address promptly and move on. 

No credit should be given.