All Forum Posts by: Tony Gunter

Probably a piece of the puzzle for most people. Be effective with the time you have is another. Persistence, trial and error, etc. as well.

IMHO, “success” always involves a custom solution for each individual’s journey. Individual success has never appeared cookie cutter in my observations anyway.

@Adrian Vega

Tell the tenants to embrace that feeling.

This is a business, run it like one, period.

@Jingwen Dunford

IMHO a “No Deal” is always better than a “Bad Deal”.

Stick to your criteria, walk when there is no spark in the deal for you. Deals are like buses, another will come along.

@Brady Boyer

I set up and advertise a “Rental Open House” on a specific date (I always use Sunday afternoon).

Serious people show up, all is done in one day. I take applications on site on the day of the open house. This is usually enough to get 2-3 well qualified applicants. I avoid all that no-show nonsense. My time is valuable.

@Mark Johnson

I think it entirely depends on your individual situation. For the niche I’m targeting, I can’t really do it without the GC license.

Everyone's path in REI seems very individual to me. You will know your own answer better than anyone else.

HELP BP Family,

I have been calling, face to face meetings, scouring the internet to try to find who I can Cash Out refinance these types of homes with, but no luck.

Closest I came was Lima Capital. Min $75K ARV, 45-60 days to close. That is close, and might work on a case by case basis, but is not a real solution. They really act like they could care less about getting any business frankly.

If anyone out there knows a lender for these please let me know. I want to hold these, not flip them, but I can’t allow the money to rest in the property.

Any help greatly appreciated.

@Oscar Montealegre

I don’t remember the form name, but there is a form you have to file so you can expatriate your money back out of Colombia if/when you sell the property.

Colombia is a pain when it comes to moving money and paperwork.

Other than that it is my second home.

@Carol Venolia

Tell them to go buy their own place and breed whatever they want, but in my rental, my rules. Period.

@Wesam S.

Shame on you. The property was obviously not ready to be rented out.

This sounds similar at least to buying a $30K dump property and spending $2k on it,calling it done, and then being astonished when your getting dinged to death on repair cost. Like the old AC Delco commercials, “you can pay me now, or pay me more later”. Sorry, but this was a predictable problem.

Offer to let them out of the lease. Once they are gone get the property right, then lease it out.

@Sandra K Shirah

So you expect a GC to go give you a detailed quote (you want to bank on the numbers, right) for a property you MIGHT buy? A GC is covering al the trades in their pricing. As such, it is not a small amount of work to do for something you don’t even own, and may never own. Quote and an estimate is note the same thing.

Think about this proposition from the GC’s POV. Time is everyone’s most valuable asset. Is a GC going to be motivated to work for free with a tight wad investor that doesn’t even own the property, or go put up that mega deck for the couple on the golf course?

I just saying consider another POV of the situation.