All Forum Posts by: Arthur Schwartz

Seller financing is safest for the seller, when seller holds the deed, until paid in full. Otherwise if buyer fails to pay, seller has to incur legal expenses either to take back their ownership through deed or to assert a claim against buyers other assets (if there are any). If buyer used an LLC with no net worth AND the loan is non recourse, then seller is effectively defrauded out of their property. Again, "Seller financing is safest for the seller, when seller holds the deed, until paid in full."

if the pros won't touch it, it's probably a tear it all down situation

State Employees Credit Union & Coastal Federal Credit Union

If a hypothetical property is worth $100,000; with 20% ($20,000) down; and monthly expenses of $750; your net income monthly would be $250.  Annual cash on cash return of 250*12 or $3,000 on a cost of $20,000 would be a 15% cash on cash return, which is pretty close to the 10% to 12% you'll see if you look back through many of Brandon Turner's videos, where he walks through use of the Bigger Pockets calculator.  

I am interested in how this situation played out.  What happened?  My take on whether a person can buy a partial interest is yes.  Legally, the owner of even a 1% interest can later file for a partition by sale or partition in kind.  The first option requires the other owners to either buy out the plaintiff or the property is normally put up for auction.  The second option is simply a physical subdivision and often used for raw land.  In addition, either partition normally allows each owner to present their income and expenses on the property; the division of proceeds; or the division of land; is fair.  (this is not legal advice)

I am sure that if you use a rental property calculator such as the one on biggerpockets; for a hypothetical $100K purchase and a hypothetical rent of $1000 monthly; with some reasonable estimates for expenses, the cash on cash return will be superb.  Practically, deals going to 0.9% or 0.8% are also going to "pencil out".

Call the town and if they come out and issue a building violation notice, that will get the owner's attention....Arthur

To expand on the good ideas here, consider a) putting more than 20% down on an investment property or b) wht would your financials look like if you simply sell and use the IRS rule about avoiding capital gains tax if sold within two years?  c) you can move out, rent for two years, and then make a decision.  this buys you time

Yes I have had some communication with the current property manager but I wanted to post in an online forum to get other person's expertise.  Also there is no online portal.  Thank you  

One of my property managers, with six doors, sent me nothing for the month of December.  Sent nothing for January.  Sent a relatively small check on February 1. Has never sent me leases.   How to manage an out of state property manager?  Tips?  Advice?  Thank you!