All Forum Posts by: Bob McIntosh

Well, with that kind of cash you have a lot of options. I think your first step is going to be to figure out what your end goal is. Do you want to flip, buy and hold, develop, what? Always have a goal in mind as it will help you focus and stay on track.

Let us know what your goal is and we can provide some more specific help!!

I was not aware that enforcing the due on sale clause would force the lender to foreclose on the property. Can you explain why the due on sale clause would require a foreclosure?

Thanks!

Well the bank I am at will allow me as a "business account holder" to do ACH transactions through them... so I am thinking about doing that since it does not cost me anything extra...

Have you tried searching the forums, there are a ton of spread sheets throughout the various posts here.

I have been debating about offering the tenants of the building I am purchasing (2 units) the option of having me automatically ACH Debit the rent out of their accounts. Has anyone used this method? Any thoughts on the pro's and con's of using this method for rent collection?

let me know! :groovy:

You can always expand upon Brian's idea. If you are in a city offer to shovel/plow (or have it done) their parking lot, or offer to sweep it up, I know that convenience stores parking lots are often very dirty, and at least the ones around me you will see some kid sweeping it up early every morning. You could also take the easy route and just offer them "rent" for the space. You could offer a free slushie to anyone who you buy a property from :P

Convenience store owners are often strapped as that business has very razor thing margins, as such they are often very willing to allow a small sign if it brings in a little extra cash for them.

Do the same things with people who live on busy corners, everyone is looking for something for "free" and letting someone place a sign in their yard in return for something else of value to that individual is often an easy sell for you!

At this point I would have to agree with most of the posts here. You may want to look into getting the carpet replaced yourself just to get an idea of how much it would cost to replace it. Then you should have a good idea of what your LL will be charging you to replace it.

Raj,
Thanks for the reply, I have since left this complex (and I have not been happier). I have a co-worker who moved in around October and he is experiencing the same problem. I know that at least a few other people experience the same problem as well. I had asked that they do something to fix the problem but they generally just blew me off. In fact there was a door that a previous tenant had punched a whole through that did not get fixed the entire time we were there (1 year). Suffice it to say that I believe that the management company for this property just doesn't care about the tenants unless they have been long term renters. Either way it matters little now since I am out of there and I never intend on going back.

Me too!

I'll help out where I can! :)