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User Stats

4,456
Posts
4,294
Votes
Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
4,294
Votes |
4,456
Posts

Under Contract...Finally, after 5 months

Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
Posted

Well, I don't know how many deals you guys are getting, but after 5 months, several hundred underwritten deals, and several best and finals, we finally are under contract on a 98 unit value add.

What it took:

- $100,000 EMD

- No Finance Contingency

- $50,000 Good Faith to lender

- $15,000 to attorneys for the PPM

Big shout-out to my partner, @Sam Grooms.

Now we just need to close...

User Stats

2,252
Posts
6,822
Votes
Brian Burke
Pro Member
#1 Multi-Family and Apartment Investing Contributor
  • Investor
  • Santa Rosa, CA
6,822
Votes |
2,252
Posts
Brian Burke
Pro Member
#1 Multi-Family and Apartment Investing Contributor
  • Investor
  • Santa Rosa, CA
Replied
Originally posted by @Ben Leybovich:
Originally posted by @DL Martin:

Otherwise, I'll be in HI in early October? You have any plans?

Hilarious!!  DL knows what he's talking about...

I'll miss you by a month, Ben!  I'll warn Brandon so he can get out of dodge.

  • Brian Burke
  • User Stats

    4,456
    Posts
    4,294
    Votes
    Ben Leybovich
    • Rental Property Investor
    • Phoenix/Lima, Arizona/OH
    4,294
    Votes |
    4,456
    Posts
    Ben Leybovich
    • Rental Property Investor
    • Phoenix/Lima, Arizona/OH
    Replied
    Originally posted by @Brian Burke:
    Originally posted by @Ben Leybovich:
    Originally posted by @DL Martin:

    Otherwise, I'll be in HI in early October? You have any plans?

    Hilarious!!  DL knows what he's talking about...

    I'll miss you by a month, Ben!  I'll warn Brandon so he can get out of dodge.

     I am going to meet Brandon there. Taking Patrisha and kids. Celebrating @Darren Sager's birthday. 

    We can always make room for one more good person, and I guess since you come in a package with Suzi...but oh well... I'll just have to make plans to come see you

    Baselane logo
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    User Stats

    583
    Posts
    918
    Votes
    Sam Grooms
    Pro Member
    • Investor
    • Phoenix, AZ
    918
    Votes |
    583
    Posts
    Sam Grooms
    Pro Member
    • Investor
    • Phoenix, AZ
    Replied

    What's with everyone going to HI? We'll be there in November. 

  • Sam Grooms
  • User Stats

    4,456
    Posts
    4,294
    Votes
    Ben Leybovich
    • Rental Property Investor
    • Phoenix/Lima, Arizona/OH
    4,294
    Votes |
    4,456
    Posts
    Ben Leybovich
    • Rental Property Investor
    • Phoenix/Lima, Arizona/OH
    Replied

    CLOSED!

    2 days late, but closed!

    Thinking about writing a few articles on the blog...

    User Stats

    583
    Posts
    918
    Votes
    Sam Grooms
    Pro Member
    • Investor
    • Phoenix, AZ
    918
    Votes |
    583
    Posts
    Sam Grooms
    Pro Member
    • Investor
    • Phoenix, AZ
    Replied
    Originally posted by @Ben Leybovich:

    CLOSED!

    2 days late, but closed!

    Thinking about writing a few articles on the blog...

    5 days before our loan application close date and 14 days before the contract close date. I wouldn't call that late. 

  • Sam Grooms