All Forum Posts by: Sachin Amin

I did visit cape coral, port Charlotte  earlier this year...lot of new development and met lot of builders, but for some reason i just did not get the vibe. i really loved punta gorda and fortmyers though!!

@Orlando Osuna  - wow we were recommended by  Noarada. (i hear from Norada - they broke the partnership when i last spoke to Oliver from Norada)

@Orlando Osuna - Sorry to hear...are you getting any rental income, even we have similar situation all the rents from new tenant are constantly going for repairs (100% of them) - we are paying out mortgage out of our reserves and had to borrow from one of our private lenders with higher rate) as we never anticipated we would not make any $$ for almost entire year. we are in a deep hole :( on this one. but hoping to sell if we can get decent rate on our unit...hopefully next summer if we get good offer we will be selling it for sure.

@Ozzy Smith if you can please share more on partnerships? how does it work ?

@Orlando Osuna - sure i just sent you a DM. are you planning to exit Freedome too ? becuase we have decided that we will be exiting by summer 2022 as soon as we recoup atleast some rents and sell the unit.

@Christopher Sineno - this unit just has been nightmare  since the procurement. May be because we  just have never experienced  this kind of -ve burn rate with our existing  Turnkey providers till date. At this point with the limited tenure of lease not sure if we can get anything out. we are seeing every month there has been a appx $500 expense. I hope that stops now as all the issues should have remediated and we should see the rents coming from next cycle. 

But yes we are done with this unit as my lenders all they care about is their monthly payments and this unit has not generated even signal $$ yet after new tenant and we are burning reserves to just sustain. and as discussed on various calls the only last option is to cash out when the unit is empty so we can target first time home buyers in that area. (at least that's what I was told would get us desired price)

@Jonathan Greene - I think they picked the tenant I am sure they had screening and background check in place but we will definitely take note for our future investments that we have a say and review the background check application.

we are closely monitoring this unit and area but mostly have decided to exit this location by next year. Memphis, Arkansa, Jacksonville, Maryland have been top performers on our portfolio...

@Marc Rice

They are a turnkey provider and have everything in house ( rehab team , PM, realtors etc)

https://freedomrealestategroup.com

We purchased in 2019 but just did not work out. We have a new tenant in place so let’s see!!

Just wanted to check other investors experience

Wanted to check other investors on how their journey went with freedom real-estate group. we had purchased a unit for 99k with $1000 rent - which looked very promising at that time. But since procuring this unit, it never performed in reality. we had civil fines, followed by an eviction and a $10,000 rehab(because the tenant has caused some serious damages) and continue to burn with expense of some or the other way...($500 / month -expense related to  swage line , appliance one or the other every month eating up the rent)

wanted to see if any other investors having similar issues with Freedom group.