All Forum Posts by: Steve M.

In lower/middle income -- I have no issues. I'd prefer 2/1.5 over a 2/1, but I won't turn down a 2/1 if the numbers work.

As always however, my preferred is 3/2 :)

Congrats Joshua!

Big Big Steps! My business was interviewed by the WSJ a couple years back! Felt like a lottery winner getting the free press!

I wish you continued success!

Yeah,

I believe Mid TN is a bit different.

Just checked Loopnet -- (3) MF's in Hendersonville. Checked MLS -- (14) listings.

That's a good idea... I'd be ok with that.

I joined as a "lender" yesterday. I have all options open -- So far = I see (2) listings. Neither look any good.

Some serious $$$ needs to be put in the advertising/marketing if Money360 will ever be any good. I never knew about it prior to seeing it on BP. Most of the REI's I know, don't seem to spend much time online.

It will be interesting to see where Money360 12/24/36 months from now.

For now -- I don't really see it taking off without some major modifications/marketing/interest.

Here's the "Retail/Consumer" frontend of our MLS system:

http://www.realtracs.com/PropertySearchMap.aspx

As you can see, this doesn't just include residential.
http://www.realtracs.com/ChoosePropertyType.aspx?AreaID=9&PropertyClass=RES&Digest=BxMlNjef8ddUFzkwS1KW5Q

Backend is like any other MLS.

Really Steve?

Perhaps we're just lucky here in middle TN -- But the MLS here includes Residential, Land, Multi Family, & Commercial.

Even looking for office space -- I look to the MLS prior to searching out Craigslist or Loopnet.

Chris,

Do you have access to an MLS?

You'll find much of the stuff you'll find on Loopnet, but quite a few agents around here skip loopnet altogether and just run their inventory on the MLS.

Bathroom sinks & faucets look to be in great shape.

Cleaning/Painting all cabinets (Kitchen/Bathroom) can be done over a weekend, and you're all set.

I WISH some of my rentals/flips had nice cabinets/sinks/hardware like that. I'm lucky sometimes just to have a working faucet :(

Here's the Update guys, as Promised :-)

Policy was a replacement value policy. I also had lost rent & demo covered within the Policy.

Property was a total loss. Tennessee does NOT allow insurance companies to pay out minus depreciation's. They MUST pay out for the full value of the Policy.

Long Story Short:
Full replacement value paid including 8 months of lost rent. The insurance company is also paying for complete demo. No build back requirements due to total loss. Lot will be donated to a local charity/church.

IMO

Money360 would be better served if the BORROWER pays to have a listing entered. Making the investor pay (the one ALREADY providing the service) is not the best idea IMO. What happens after an investor/lender pays to see 4-5 ad's and none happen to work out? Either the borrower backs out, the deal doesn't live up to deal spelled out previously, so on & so forth.

By having the borrower pay, investors can see *Skin* in the game -- Must be a bit more serious than random solicitations for money. Points would still be claimed at closing for Money360.

Just my $.02 cents :)