![]() ![]() Owning 1 or 2 properties in the Toledo market is just not going to deliver the desired result for any investor. I've said it before many times and I'll say it again. Ï»❼laiming that you have lost money just isn't true. Ï»¿So there has also been a slight appreciation. Ï»❺lso, the price that you have paid is lower than the price that we sell similar properties for now. But certainly not a "loss" as you claim in your above review. Ï»¿This is a bit below our average of 8%. Ï»¿The numbers on our end are showing you earning around a 6% "year after year" net return on investment for the 2 years that you have owned the properties (I have also discounted some since you have owned 1 property for 8 months longer than the other). I was able to briefly connect with the Property Management team and they are currently compiling all logs/information on the rehabs and maintenance. I hope you had a great New Years and start to 2020. Then both tenants had to be evicted (great job on the screening process guys.) and I was hit with a $26,000 renovation bill, for a property that was *supposedly* fully renovated when I bought it. Then both tenants had to be evicted (great job on the screening process guys.) and I was hit with a $26,000 renovation bill, for a property that was *supposedly* fully rennovated when I bought it. I feel like they are hoping I just won't notice or will forget about it. Sometimes they respond, sometimes they don't and 4 days later I have to send the "did you get this?" email. ![]() I've gotten charged for things that would've slipped by if I didn't check my statement every month.Īlmost every month I find some kind of extra charge, or missed rent payment on my statement and have to email them. I've had a ton of repairs needed (even though *supposedly* this was a turnkey property with everything updated - at least that's what they told me). It took about 3 months to get the second tenant moved in. Then, the property management has been awful. Of course, to some extent this is my fault for being a newbie and not knowing the numbers well enough, but they were definitely intentionally trying to rip me off. I found this out when I tried to refinance. ![]() I didn't realize why they wouldn't accept loans at first, but I do now - it's because the house you get is going to appraise WAY lower that the actual amount. But they were obviously hugely inflating the numbers.įirst off, you have to pay cash. On paper, the house looked like it was going to make WAY more money than the REI one. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |