All Forum Posts by: Zachary Ware
Zachary Ware has started 6 posts and replied 399 times.
Post: Hello nice to meet you all!
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- Votes 455
Welcome to BP!
Post: Reno Multifamily Report Q2 2023
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Thanks for the post! I appreciate that this includes information relevant smaller multifamily properties as well.
Post: Looking for a lender in TX for Cash out refi Conventional loan
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Hey Jose,
Have you looked at other types of loans? Sound like a lot of points to me. As others have mentioned, I would recommend looking at a DSCR loan as I see lower rates and points right now depending on the credit score and the property's performance.
Post: borrowing when 1099
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Do you already own the home and just need reno funds, or will you be buying the property?
Post: Existing Unpermitted Additions
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I recently worked on a deal in GA that had a significant amount of unpermitted work including an addition that was successfully retroactively permitted. It took about 3 weeks in total to get the new permits. I would call the local city/county office that issues permits and ask them what the process looks like.
Post: Another Tenant Issue
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Quote from @Matt Devincenzo:
"Hey thanks for reaching out XXX. Since we last spoke I've hired a PMC to handle the property, so I'll send your info to them and have them reach out to discuss this with you."
If you hire professionals to help with things, then you need to stay out of their way when it's time to help you. I deal with clients in my day job that insert themselves, and it always is frustrating, and often costs them more time, money and headaches than they know.
Post: Update to our multi-family in Hanahan, SC
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Congratulations! Does the cash invested include rehab as well? It seems like very low leverage and I am curious why you chose this path.
Post: Previous Property Manager requesting payment on unauthorized repairs
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Quote from @Nathan Gesner:
Quote from @Adam K.:
Do not call an attorney. This is too small an amount and will waste your time. I recently had a claim of $25,000 against a CPA and all the attorneys told me it was too small an amount to bother with. They suggested another route, which I took, and the CPA offered to pay me $10,000 to make the problem go away, which was more than I expected.
Contact the Ohio office of Real Estate and Professional Licensing: https://com.ohio.gov/divisions-and-programs/real-estate-and-...
Ask them how to file a complaint against a licensed property manager. They should point you to the right office. When you initiate a complaint, the first thing they will do is let the PM know a complaint has been filed against them. They will encourage the PM to resolve the issue and make it go away. There is a very good chance the PM will drop the charge just to get rid of you. Nobody wants the state investigating their files, even if they are 100% innocent.
Come back and let us know how it goes.
Great Advice!
Post: What are you doing in this current market?
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- Votes 455
I agree with @Kenny Smith, you have to get creative right now. I also see people holding on to liquidity at the moment and improving their own systems. For some that is dialing in their deal sourcing, marketing, contact list and for others that is operational, making sure they are being as efficient and cost-effective in the tenant management, maintenance, and amenities.
Post: Tenant and constantly in and out
- Posts 405
- Votes 455
I agree with the others on this thread. If he is not causing a disturbance, I would look past it. Not all routines look the same for people and constantly keeping tabs on your tenants will be exhausting in the long run.