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User Stats

4,456
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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 Jul 26 2018, 20:37

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

2,235
Posts
6,775
Votes
Brian Burke
Pro Member
#1 Multi-Family and Apartment Investing Contributor
  • Investor
  • Santa Rosa, CA
6,775
Votes |
2,235
Posts
Brian Burke
Pro Member
#1 Multi-Family and Apartment Investing Contributor
  • Investor
  • Santa Rosa, CA
Replied Aug 15 2018, 11:31
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.

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 Aug 15 2018, 14:49
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

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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 Aug 15 2018, 14:52

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

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 Aug 17 2018, 18:06

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 Aug 17 2018, 18:10
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.