All Forum Posts by: TJ Jeff

@Zamiah Izayah did you ever end up trying the Propstream skiptrace? seem like it's easier dealing with one vendor to pull the list skiptrace that list before taking it to mojo. Your thoughts?

@john Nachtigall

i'm surprised this is not a bigger topic on BP, not only can Zillow get very low funding to work in cash, but can lose a lot of money in an Amazon style market share grab from realtors and investors simultaneously, hence massive cold calling and mailing operations, major advertising. so who has more credibility the huge company buying yr house, or the guy who lives down the street and says he's better at valuation than Zillow? they have a first goal of buying 5K a month, it will only go up if they figure it out

David,

Thx for that, i've often wondered why driverless and mass transit thought leadership and experimentation does not exist here, even LA has Elon Musk building a tunnel prototype etc. Congestion is clearly the key bottleneck, do you sense City leadership feels the urgency, or has planning on that beyond roads/hwys?

tj

@Raden Mantuano Unfortunately, unless I'm missing something here even with better financing terms, deal still doesn't seem like a win/win. Seller has essentially off-loaded his risk to you and kept his best case profits at about 50% rents, and you are left holding the bag since you are left with Capex, Vacancies and Calamities. Calamities being the operative word. A much lower payment and purchase price at 2% would make the deal look better. But why invest where you get little to no appreciation and few exit strategies (banks generally don't like sub $50K properties)? I would urge you to save up, get a $100K fixer for $50K, force the appreciation, work from there.

@Conrad Metzenberg  Avocado toast is a great one. speaking of gentrification indicators, i've noticed some that stand out:

more than one night time dog walker, extra points if it's a female on a cell phone; tattoo parlors, funky coffee place, small niche workout gyms, anything Asian that isn't Chinese, all within 3-4 blocks; any hippy or hipster sightings, extra points if you see them at Whole Foods later; very low people count in the middle of the day 

nice one

Stable area near Brookfield Airbase, currently with large local PM, fins show high CF over last three yrs, please contact me for more information.

Clean little house in the middle of Mobile, strong CF, managed by large local PM, message me for more pics (please don't contact tenants, thx)

@Nate R. Nate is spot on here, I have walked several of my rentals where the PM did'nt adequately relay a problem, and it can be something small that will ruin it and you will never know unless you go yourself. In a recent case, no one thought to tell me about the horrible odor of the carpet (which had been cleaned already supposedly) till 3 wks into a listing, and presto my PM finally mentions it only because one of the people who rejected the house actually mentioned it, so we got a new cleaner to focus on the smell. Bottom line, other than walking the house and making sure it's appealing yourself, or by a third party you trust, it may sit for reasons you will not know about. If it were mine I'd have a third party do a walk through. Otherwise, lower the rent, get it paying.

@Jeremy England yeah I see now you have some big costs, roof's a big one, drainage is another hidden one people often don't see coming, a bad pipe in yard's another. Given the deal size, if you leave some money in the deal, at least the numbers are small relatively speaking so it's better than being at $150-250K ARV.