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All Forum Posts by: Ryan M.

Ryan M. has started 15 posts and replied 669 times.

Jackie nailed it. For a apartment complex it's too much people, liability, etc.

Post: Docusign - Lease Agreements

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Good question. I would like to know also from someone that has actually ran a full eviction with electronic signed lease.

I had to redo a PA because Chase wouldn't accept electronic on a short sale, more than once.

Post: Mobile Home Park Deal Analysis....Please

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

So 3 of the homes are metal/metal (siding & roof) and the the '91 is shingle vinyl?

Post: WilliamPaid.com Online Rent Review - Bad

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Cole Tarbet How long have you worked for Rentmatic?

Post: Missing lockbox keys...

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

My wife is picking up bad habits from me, we were at a REO this past Sunday. I was looking at the windows and she must have went around back. Before I realized she was around back, she opened the front door from the inside. She just smiled and said the slider has a lot of play in it.

Post: Is real estate investment as simple as it seems?

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

When financing was easy to get, people took a weekend seminar and went off buying. This is easy they thought and it was to get the properties purchased. Then the tenant variable enters with an inexperienced LL.

I have been taking the problems off their hands, on a short, with a smile.

To add a example:

I had a clown in a multi family we purchased on a short sale. The previous owner let him in there because the prop was going under anyway, with the idea he would do stuff. I began the evection process the day we closed because he was way behind anyway. When he did get out (day before a full move-out evection) he took all the stuff he improved the unit with. To add insult to injury he took all the plugs and cut the wires flush with the back of each box.

The issue is thing will go well when its in their favor. When they are getting booted, all control is now in their court and they can, and some will, go to town on the place before there out.

If there are ants, spray around the house to show good faith. No big deal, we get a few requests every spring.

Who cares what the lease says, it's your house, do you want ants in it?

Just my .02

It doesn't sound horrible but the basement needs to be looked at by 3 contractors with ballpark numbers before any decision can be made.

Back in 08 I went through this with a duplex also. The poured walls were bowing in. There had been 2 previous "repairs" in the end the numbers didn't justify the risk.

Originally posted by Dan R.:
I'm a bit of a contrarian on park-owned homes. In my case, they are very accretive to my goals. Cashflow, not appreciation is my primary goal. I would suggest the maintenance is no more or less than other low-income housing product. The repairs are usually very simple and inexpensive (i.e., no drywall, simple plumbing, plenty of ground clearance underneath, access underneath at any point by removing skirting, window a/c, simple electric furnace). Most importantly, the widget we are all selling is a roof over a family's head, not a lot. Only POHs can provide this. I would suggest a Craigslist ad to test demand in your market. Keep it generic if you prefer. Demand for a $500 roof may leave you shocked. Good luck!

I've had some of the worst days of my life working under mobile homes growing up, there no fun.

My parents found it as free labor in their parks. Now, if work is needed from the bottom, I have no problem delegating it :)