All Forum Posts by: Andrew Anthony

@Gary L Wallman yeah okay lol. After 3 years, are you expecting it to be in the same condition as when they first moved on? The landlord did 0 maintenance during the tenant stay. 120+ rentals and never had one like this after tenant moved out? The only exception would be the broken door, but then again it was 3 years rent. What LLC are my our rentals under?

@Nathan G. You’ve got to be joking. Did you expect to have tenants that paid on time and were never late AND have a beautiful home walk through?

This is normal wear and tear. Set realistic expectation. To make a joke of their deposit seems like a bad joke on your end. You made your profits with tenants that didn’t offer any problems during their stay. Stop being greedy.

@Matt Leber This is great! I am currently looking for deals in Brevard county. 95k on the deal is an awesome find and there are plenty of deals here! Can you send me your Lender contact info for me as well. Much appreciated!

@Kalen Jordan most investors that invest in low income/ war zone areas tend to buy in low and then just leave it alone and try to milk it as much for as long as possible lol. I’ve read that investors don’t even try to renovate or fix anything.

Ah okay, makes sense. Thank you for clarifying that for me. Kind of had me worried I might be getting scammed lol.

So I recently inquired about a property and asked the owner if he was interested in Rent-To-Own. He replied that he was and the numbers all looked good. Everything was going smoothly until I looked up the property and finds out owner of the property is “corporate owned”. Can anybody tell me what this means?

Thanks in advance!

So I’m at the beginning stage of practicing lease option deals with my business. I’ve read tons of information regarding lease options, researched what contracts to use and any legalities revolving around lease options. 

Though I feel like I've done my share of due diligence, I've gone ahead and set up an appointment with an attorney that I've met through my local REIA for a consultation that will cost me $250.

Here are a list of things that I have in mind to ask:

1. Review of the contracts that I have (Lease Option/ Lease Option Assignment).

2. Any and all legalities that’s involved in working as an unlicensed agent.

3. Setting up my LLC.

This is my first time dealing with an attorney, let alone setting up my business correctly. I am seeking advice from those that have gone through the process and provide some guidance. Is there anything else that I need to ask to make the flow of process go smoothly?

Thanks in advance BP members!

@Jonathan Taylor Smith Thank you for the swift reply. I’m glad to hear it’s still okay to pursue as a strategy legally. There have been conversations about marketing to potential buyers if you’re not licensed. What is your take on this? Any info you can direct me towards in this regard? 

Also to entice the clients further, would you recommend having portion of their rent credited to their down payment in a separate contract? Any legal ramification I need to be aware of?

Thanks!

@Marcus Auerbach awesome read.

@Jared Mann game changing, right? It’s like there’s a blueprint for everything imaginable lol.