All Forum Posts by: Rijm D.

So how does he have a YouTube post from 5 days ago with Midwest in background or does Portugal now look like the Midwest with all those "illegal" Americans having migrated there changed it into their home town? Damn Illegals! Build a Wall around Portugal already! And check out the many great nice and hearted comments, well, besides mine. LVTBUS

@Mike D'Arrigo so for a rental in Indiana, what would be the better choice. 900 rent, 65k purchase plus probably 10k rehab. Was just quoted $734, he mentioned 164k rebuild value, or should I go for probably lower quote on market value? Anything else that's important to ask, or tell? He asked me the age of roof. Not like they replace it unless a tree hits it, not cause it's old or leaking. Thanks

@Chandler Harker did you get the insurances quotes and by your research are they good price wise and to deal with? Closing this week on my first in Indy. Thanks

525 a window installed sounds about what I saw on general google of how much a vinyl window costs. 350 would be better. hope you get that so 2800. Let me know if that is the next quote or even possible. Thanks. 

Great to hear from all of you. I see everyone's point and agree. Trust, numbers, ...all of it. I account generally 40% for expenses and would hope that covers it. Taxes are not that high and place should be renovated to a certain extent already, so I hope that all makes it work. Will see.

Thanks all.

I do and I see everyone accounting for around 10% for PM service, but where and how do you account for the 1st month rent they may charge? Or is that not the norm and most really just take $90 of $900 rent to move a new tenant in? I feel first month rent is steep and invites the incentive to create a higher turnover for their benefit. Or should there be a renter guarantee for 1 year stay or on longer term lease agreements?  

What is the cost of a standard Vinyl window with install? The hard to stomach and your hopefully better quote now? Would you just replace all at once in a house with older windows or just the ones that are ... what are the problems? Drafty, cracked, won't open or close...? Fix the ones that give you problems first, down the road the rest?

Thanks, also looking in Indy. 

I am one that got saved as well by being warned and look Into them, when I was blinded by the MLight, when I was just about to set up my phone call with them. That all delayed me from having started, but I'm sure the opportunity cost loss vs real money loss if I would have moved forward with them, I am better off this way.

So I still listen to his podcasts as he does a good job with them. He now pitches 50 to 70k properties when it used to be 30 to 50. Maybe just a higher margin on crap or he moved into making it work legit while pulling the same profits. There was a podcast where he for the first time admitted about what happened. He said his family and sister got burned too, that the PM Oceanpointe was at fault. Well, I dont see why he had to stick so long with them and let people get burned. Dont think it can be excused for that reason, turned a blind eye on the issue for too long.

Also he recently mentioned that he now makes 23000 a month in income from his rentals, but loses 10k a month as he did not nurture his portfolio, so he should make 33k a month from his now 68 properties he acquired in just 5 years all cash I think he said he has. The new construction I dont hear much of anymore, think that failed or halted or otherwise is not mentioned anytime recently.

I may have someone. Only problem is I am not sure how well his communication skills are. Shoot me a PM and I give you his info. He is an investor himself and works at a local bank in Indy. 

what is your rate, fixed or adjusted? I think it depends for what you intend to use it for. They do offer a regular variable rate right now, also a 1.99% Intro rate for 6 months or a year. But the fixed locked in fully amortized one is like a mortgage for 10 years at a 4.49%. Since I intend to use it for a large purchase like a home or multiple smaller homes with smaller downs or to do a flip it is actually fitting me I think. Also Mr. Jay brought something to my attention where i could park the money in. Will see how it works out.