All Forum Posts by: Alex Sanfilippo

Thanks @Wayne Brooks and @Account Closed - The basically the best thing to do seems to be just wait it out? Seems very reactive to me...

I just recently placed an offer on a bank owned condo that I am really interested in purchasing and renting. My offer was in the process of being accepted; however, the bank noticed a title issue and refused the offer and removed the property from the market.

This is my first time ever dealing with something like this... I'd still really like the property. Is there anything else I can do to get the property? The bank said they would put it back on the market once everything is sorted out, however, I'd love to keep it off the market and just purchase directly from them.

I'd love to hear some feedback from anyone who has experience with this type of situation?

@Shawn Ackerman - I sure did, I sent a response e-mail as well. Thanks! It's a good start for what I am looking for.

@Shawn Ackerman - Thanks so much!

Hello, I am currently finishing a business proposal to submit to multiple interested investors. On this proposal I want to include loan terms. It would need to be a hard money loan or cash investor terms.

Does anyone know of a good base template that I can use for this?

I'm not completely sure on the wording that I need to use. This is the part of REI that I understand the least, but I am starting to learn it now.

Any advise or leads are appreciated!

@Colleen F. - Thanks for the tips! Do you have any recommended keypad locks that you would use for condo main entrance? I've seen a lot of them with really bad reviews.

@Susan H. - Susan, where could I find this information locally? I believe my attorney and I have checked all of the laws and what we are doing is acceptable/legal, but I would certainly like to continue to confirm! If you know of where I could find documents to review, that would be very helpful.

@Roy N. - My attorney and I have spoken with the condominium development that we are using in regards to doing these 'leases by room' and after checking with them and the bylaws; there are no issues with it from that perspective. But I certainly see where you are coming from! I checked with each of the 17 developments in the area and there was only 1 that this would work in. I'm guessing if I tried this somewhere else, it probably wouldn't be legal.

Thanks for the comments! I really appreciate this community offering advise and the willingness to help.

@Account Closed - Very true; it's important to learn your county and state laws. For me here in Florida there is a "2 beating hearts per room maximum" law. Meaning, no more than 2 people can live in the same room at any time.

@Michael Johnson - Thanks for the link! "www.landlordlocks.com" is something that I plan on using

@Colleen F. The lease is by "bed" actually. Each room can either be rented or half of it can. Each 3 bedroom 2 bath condo will have between 3 and 6 students total (max of 2 per room)

They should know each-other, but maybe just not extremely well at first. It's a small school, difficult to get into and very community driven.

@Account Closed Thank you for the advise! Some good wisdom that I have not thought about yet. Thanks

Hello, I am in the process of launching a company that handles the student housing for a small university within my city. There are under 100 students and they all know each other at some level. So more than likely the students living within the condos that I will be using for housing will all know each other.

My question is this, should I have individual locks for the rooms within the condo?

I've not done a rental property like this before, in general, I could use some guidance on how to handle the locks for each unit.

Any advise is appreciated!