All Forum Posts by: Mark F.

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. 

Great post Alan. Reminds me of that one guy who posted his cost breakdown on a crap rehab and everyone blasted him. Yours is way more realistic. I had to redo a bathroom last year in a 2/1 in an occupied duplex I own and I spent $6,004 in labor and materials (10% off at HD/Lowes as a veteran, just didn’t do flooring and left the old vanity, doesn’t include the damage the leak did in the lower unit). I also have a personal relationship with my contractor so got a massive price break. Similar situation where I was forced to update while it was occupied.

However I know once I have to update the entire unit, I’ll be spending quite a bit as the kitchen is outdated and the place needs paint and either new LVP put down or sand and stain the existing hardwood. 

Quote from @Account Closed:

Quote from @Mario Morales:

yes, under my name. 

I’m Jay Papsan, instructor for Principles of Real Estate on Coursera. If you need guidance as an investor or novice, join our WhatsApp group to connect with fellow investors. Enjoy live Zoom sessions, expert Q&As, market analysis, exclusive webinars, mentorship opportunities, and real-time property insights. Connect now and start learning! https://sqzly.co/Kd60J2j

The fact that you have 34 posts is hilarious since you are obviously not who you say you are. Bye bye spammer. 

One of my tenants does this but in a non creepy/annoying way. They’re making sure they are aware of anything bad happening or issues they need to be aware of. I get where some people could do it in an odd way that throws off red flags. But I’d say if you check the spaces and everything passes the smell test, should be fine. Unless they are cooking meth in a room they don’t want you to see or find the body in the freezer.