Even in San Francisco you have Sec 8 we called them the Projects…These were mid to high rise Cairo style apartment complex’s which were as you describe above Alex drug infested gang banger areas…

1. Candlestick point – Hunters point

2. McClaren Park

3. South of Market (these are the ones OJ Simpson was raised in)

but its all subsidy…[Read more]

I think they were artificially too low to begin with….

Emma

Not sure what our talking about,,, all the turn Key spruikers that put no maintenance reserves in their numbers or some really low number that is not reality

Are you saying even after a reno there is on going maintenance costs with our US rentals… And that if they are in areas with 4 seasons it could even be more than one would…[Read more]

This is global warming…

the Pacific Northwest just gets more temperate.. We are having 70 to 80 degree days now…

Thunder storms on the other side of the Cascade range.

Some fools Tied 300 party balloons together and a couple lawn chairs below and launched from Bend Or destined for Montana.

They made it about 30 miles East when a Pop up…[Read more]

Section 8 is different in each state.

Here in Oregon there is very little of it.

I recall a funny story:

I am down in Gulf Shores MS… with my Oregon Banker looking at a 300 unit apartment that got blasted by katrina.. The ocean surge brought standing water 7 feet deep in all the down stairs units… The entire complex was vacant.

So my…[Read more]

4 months to settle a home is a really long time…. I can see 2 reasons for this.1. they were buying it as a short sale and it took that long for the bank to process then they flipped it to you….2. bought at sherrif sale and had to wait that long for the deed…YOu need to be very careful with insurance if you settled in Dec and only just got it…[Read more]

Mango,If your talking about the US authorities helping you with a refund for appliances that is not going to happen.The only ave you would have is Small claims court. and you need to be personally present no Attornies allowed in Small claims.Its just like Judge Judy if you guys get that show… plantif and defendant telling their stories…In your…[Read more]

Freckle wrote:
Anyway back on topic…

Some months ago I ran across a graph that showed Chinese power consumption had suddenly gone off a cliff. I postulated that China’s economy hadn’t soft or hard landed but may have simply crashed (comparatively not literally if power production was a proxy for economic activity).

It appears that assessment…[Read more]

If you only lost the cost of appliances count your self very lucky and move on… not worth any more effort.contact me if you have any more troubles in Atlanta we will check the property out for you if its in an area we work

we can do a drive by if its an area we work..My post above did not populate jay@truewholesalehouses.com

One needs to be a licensed RE broker to manage property legally in ATlanta… So first steps is to see if this person or company is licensed… If so file a complaint with the Department of Real Estate they will be to his office in a matter of days…If the property is in an area we service we will go check it out for you and give an assessment …[Read more]

emma,Nice post on the foreclosures… IE sherrif sale….Each state has its unique process's.Court house steps purchasing is not for the average passive out of area investor… VERY VERY difficult to compete with the locals who have been working the same market for years.. There is all sorts of colusion that goes on at court house steps with the…[Read more]

Is the property stablized now ?  IE rehabbed and tenanted ?And your happy with your current management situation.If any of these are incorrect please feel free to send me an e mail and if its in an area we service we will give you a down and dirty quick assessment at no charge.jay@truewholesalehouses.com

My comments are for our Foriegn friends… US citizens maybe able to find a home somewhere.

Off shore no way.. just way too much risk in those as well as no real money made on the origination of the loan..

JLH

Alex,

sounds like a seen out of Mayberry, right down to the fishing pole

Nice living in the country,,,yet close to the city… thats the mantra here in Portland lots of semi rural ranches and farms.

we can drive 5 minutes and be at farms were we buy all produce and fruit that is grown right there,,, jBerries are coming in now.. So there are u…[Read more]

Emma,

I have done the exact same things as you describe about making a deal with the tenant.

I had 3 rentals just north of San Francisico… They were wobley box’s on thier own private lot.

I put the tenants in there at 30 to 40% less than market… market was about 700 I rented them for 500..00 and told them never call me.

All repairs are on…[Read more]

Alex,

thats why I contend that those that have bought property with short term Vendor financing say 3 to 5 years.. and where told as soon as things get better they can refi… This is just not the case and is ABSOLUTLY FALSE… These 50k and sub loans have never been easy to get Unless they are owner occ. Or maybe second homes… NOT…[Read more]

Alex,

thats why I contend that those that have bought property with short term Vendor financing say 3 to 5 years.. and where told as soon as things get better they can refi… This is just not the case and is ABSOLUTLY FALSE… These 50k and sub loans have never been easy to get Unless they are owner occ. Or maybe second homes… NOT…[Read more]

Steamline:I think your experince is what most investors are going through be it foriegn or domestic.Gross returns are just phantom,,, its net return… then you add in your cost to come and visit excetra and your neg geared right there.Richard makes a great point… and one I made… there are very FEW if any Mortgage brokers that are…[Read more]

Well Pat this is good newsTWH owns almost 50 of these just in Metro Atlanta that we bought in the last year…. And we are in them with our partners for half or less than this number.If prices continue to rise my 5 year plan maybe a 2 year to 3 year plan… if we can sell for 100k average for our portfolio and we will have achieved at Plus 20%  NN…[Read more]