Topic: RentalStarter - A Midwest Real Estate Investment Company - page 4. (Read 120179 times)

Lol, cheap sharez guys!!

Asks:
2015-12-18 02:10:27
   137/137   ฿0.00471999   ฿0.6466
2015-12-18 02:09:58
   168/172   ฿0.00472000   ฿0.7930


Hahahaha

And where we're located, plenty of people want to live.


We've been able to buy and rehab 21 doors so far. I don't know what you consider small or large, but at a minimum we're getting stuff done.

These kind of recession housing markets can work, but not on this small scale. Basically you need to go in with enough backing to buy up foreclosure so and do all sorts of upgrades and management, even then it's risky.

You can get an acre of land for $5000 usd at the Salton Sea. Still don't nobody wanna live there

Thanks for the heads up, I was a bit concerned with the drop in havelock activity in general when AM crashed out so I liquidated for a bit to take a cautious approach on the exchange that might be why it didn't send a Rent mail, still sending BTR CBTC and the rest though so I may have missed it.

It's a bit late but the last e-mail I recieved is a congrats to two years of good operations so congrats on the milestone ^_^.

---
Thanks for a great 2 years with RentalStarter!
This week marks 2 years of operation of our buy-rehab-rent-refinance company.

What started off as a bitcoin experiment has grown into a company providing jobs over the past year to 10 different individuals as well as housing to over more than 60 individuals.

While there have certainly been some difficulties to overcome, I am extraordinarily pleased with the progress we have made and the future that lays before us.

Recently, our operations have received a fair deal of attention in various blogs and real estate investor outlets. Through this process, we have recently been able to partner with a very large real estate investment trust. Part of this relationship helps us adopt the best practices of a firm several orders of magnitude greater than ours. From our research dealing with this, we do believe that we are poised to grow substantially over the next year as more debt options become available. Our core metrics are good, boasting less than a 1.5% vacancy rate and IRR of more than 18% through the end of June 2015. Compare this to the market norms of ~8% vacancy and 12% IRR we believe we are on the right track in the long term.

Be sure to visit our slack page at rentalstarter.slack.com if you have not for more business updates.

I've sent out several emails to all the investors via HL, so I'm unsure why you haven't got em , or joined the slack for that matter.


I imagine the decrease is mostly due to us moving to the quarterly dividend model and adding September's payment onto the coming cycle.

We're almost done with the flip we've been working on for 3-4 months now, but I wanted to preserve as much cash as possible to cover any incidental items.

Good question, I don't have access to the slack page but I presume that it may be due to 2 months of no dividend payouts.
Haven't been sent a general havelock mail from rent in a while so your guess is as good as mine.

Aha! That explains it.

I sent updates out via Havelock + email + Slack last night.

They're treasury shares, we're trying to buy another property via equity funding. It's right next to one of our existing properties and at the moment prices locally are going nuts in terms of appreciation.

It's a 3-4 bed, 1 bath home with about a quarter acre lot next to one we already own and are getting $750/mo out of.

$18k purchase
$12k rehab
$30k total cost
$65k-$75k ARV
$750/mo income
21.3% NOI

Additionally prices as I said are going nuts. There's a house right down the street from property #7 of ours. Ours is a 4br 1ba 1800sf with garage, basement and a large yard. The other is 2br 1ba <900sf small yard, no garage or basement and looks to be in contract around $45k. On a straight $/SF rate, it makes #7 worth $90,000 without factoring the basement or garage in. We have around $41,466 in ours so that means more than double equity. Our book value on it is only $70k at the moment.

Thus the market is really, really moving, and due to the extreme slowness of banks to deal with non-owner occupants, i'm using the only viable method to purchase more property while we can get it cheap - equity.

True. It's just somewhat dramatic.

I wouldn't say they are dumped because they are on the open market. Let's see if they get bought up, but does look like someone knows something we don't  .

Somebody just dumped 4% of outstanding shares on the market?

Havelock mail

Join us Wednesday, April the 1st on RentalStarter.Slack.Com for another all-day chat! We will be reviewing all the updated information that has transpired since the last update. Some of the major points of our chat are - Our 2014 tax filings, Title 3 & 4 of the Jobs 2012 act and our potential move towards a tier 2 A+ registered security, as well as debt funding goals for the next month. We have paid off all of our outstanding loans sans long-term mortgages and one contractor credit card. This should move total company NAV up a bit. Additionally our one lender is getting more bullish concerning our company which is good news. We will be talking to several other lenders the first few weeks of Aprils in the hope of securing more financing based on our currently owned properties. Lots of exciting things are going on with RentalStarter, so be sure to check out our slack!

We have finalized dividends for March.
The breakdown of rent can be seen at the bottom of our company finance spreadsheet. Total revenues for the company as of March the 12th totaled $9,805. This reflects a $800 deposit given to us to secure rental of E. Water street when it is complete and one late pay who has not paid us yet (South unit of N. Mulberry). This renter says they will pay shortly, and they have been late before but paid eventually.

Our company NOI continues to grow nearly every month. Shareholder disbursal income stood at $1,559 this month which is similar to what it was last month. This is primarily due to two one-off expense events (Income taxes and paying towards the very large electric utility holding bill). Issuer disbursal income stood at $2,197, of which $2,000 will be disbursed to issuer as salary.

Company net equity continues to stand in the sub-$700k range at $690,861 based on current available information. Our general operating fund balance stands at $20,579 as of today. Payoff of our contractor credit card + completion of E. Water is expected to be in the range of $8,600 and be completed by the end of the month.

Our primary goal at this time is to pay off our line of credit with the bank. This should allow access to the full line again of $100,000 which will be enough to continue to buy more houses.

We are also proud to announce completion of our 2014 taxes and reporting to the IRS. Our advisory board has been given a copy of, and approved the tax return we filed with the IRS. We reported a ~$32,000 net profit for 2014 before depreciation. Due to the net profit, we have had to pay the federal government as well as some local governments taxes, which are reflected on the month's balance sheet (Which can be accessed via our slack page).

We continue to be excited about 2015 and are on track to reach our net income and occupancy goals. Our primary concern at this stage is expansion of properties through 2015.

Once again, if you are a shareholder, you have been added to access our private RentalStarter slack page. A email was sent mid-February to your Havelock registered email address with access instructions. If you need help with access, please contact me at [email protected]

New Mail from Hav

We have finalized our financials through the 10th of February. This month we were able to rent out another, previously unoccupied unit since completing rehab on it. As of the 10th, one unit was delequent for rent, however is scheduled to pay us on the 13th. This will roll over to the next cycle if it is paid.

Total div is $1,611.05 with $2,024 allowable income to the issuer. Per-property breakdown is as follows.

Address   Split   Income   NOI   
W Mill   70/30   1000   $632.75 $442.93 $113.63
Logan   70/30   600   $378.75 $265.13 $262.44
Scioto/Union   53/47   1360   $874.80 $463.64 $411.16
E Mill   53/47   750   $476.51 $252.55 $223.96
Mulberry   53/47   1200   $249.25 $132.10 $117.15
Scioto Dplx #2   53/47   1300   $821.00 $435.13 $385.87
Walnut   53/47   800   $479.65 $254.21 $225.44
Scioto SFD #3   53/47   650   $421.38 $223.33 $198.05
Clinton   53/47   735   $492.63 $261.09 $231.54
Scioto Duplex #4   53/47   525   $354.46 $187.86 $166.60
N Brownell   53/47   0   ($193.00)   ($102.29)   ($90.71)
Water   53/47   0   ($235.00)   ($124.55)   ($110.45)

This February represents the best month for cashflow so far in our company's operation with a total of $8,920 taken as rent from Feb 1st through the 10th. We expect an additional $1,125 in rent by end of the month (Renting brownell & Scioto #4 unit #1 to catch up back rent). The income was somewhat offset by loan repayments ($1,190) and a very large unexpected electricity bill due to poor weather ($1,005). These are reflected in the diminished dividend this month as compared to what it would be under normal operating terms.

As always, if you have questions let me know via email at [email protected], or via rentalstarter.slack.com (Our new slack portal). The slack is invite-only, if you are a shareholder who has not got access, please let me know and I'll get you invited!

^Lol @unloading your NeoBee goodness on greater fools.  Perhaps you can rinse & repeat with this awesomeness, but somehow I doubt it.
Best of luck tho.  Thanks for bumping.
As always,

  ~Happy Investing!

On the matter of RS kindly take go and take a hike if you haven't anything useful to say. Just keep taking the handouts from MP and go and do something useful with them instead of annoying others?

At least I don't keep trying to hide behind anonymity. Time to stop feeding the trolls.

Andy Andy Andy...  Ignored me on than your slick NeoBee investment of yours, thought you knew better... Owell
The rest of your posts seem to be pimping this Schlichter Bros. fail.  Not even gonna ask why you're not raving 'bout brother Benny's awesome offering*

From teh NeoBee thread:

*[ticker:HASH] The issuer's website.  This d00d's all pro

Ah, the trolls are out again

How's that long-term NeoBee investment working out for you Andy, all good?  Everything on target?



@TheRama:  Hello, newfriend!
If this is your only account, why not lurk for ...oh, more than a week? before gifting us with your smartiferous learnings, insightful as them those may be?

 

The difference is investor relations...  He's actually pretty good at it, but really it doesn't matter because he's the only one who even cares about it at all.  If you look on Havelock, there are really only two funds with any volume or liquidity, AMHASH1 and RENT.

RENT is the only company that bothers to regularly update their Havelock page and with the thing he's doing on Slack, any shareholder can ask him a question 24/7.  He even posts all his company data and financials on the slack page.  All of which could possibly be fake, yes, but is very good for bolstering confidence in the stock.

Compared to the other riff-raff on Havelock, he seems to be the only person taking it even remotely seriously.