All Forum Posts by: Christopher Benedict

I have managed both commercial and residential, as well as HOA communities. I have handled multiple 6-figure capital improvements, including assisting after a tornado that hit the Philly region in 2021. I would love to take this skill, and apply it to asset management, just not sure where to start!

If terms like this aren't in your lease, they should be. With many people working from home, it isn't uncommon to require tenants to be available for repairmen or appliance deliveries.

 Not so sure I agree 100%

. I recently traveled down the east coast, and stayed at the same chain brand 3-star hotels. Some were great, some were ok, and one was, well, in dire need of rehab. 

 I am making this my big push, as it is a win-win right now, alongside my property management business.

 I don't think she will be stuck on a rate. She wants options, and is very open to creative, which is helpful.

Once we present these basic ideas, we will want to know 1) what does she need right now, monthly, to let us take the property over (and all headaches) and 2) how soon and how much will you need when you make you Tampa purchase. (Sounds like it is at least one or two years out)

I was thinking 3 options:

1: Highest sale price - owner holds note with rate/terms TBD

2: Middle sales price - Lease option, with a 3 year purchase

3. Lowest price - We scrap together 20-30% and private finance.

I came across a decent opportunity. Home is only 3 years old. The owner bought it for cash, so no mortgage. She stays on the property maybe 2 or 3 times a year when not traveling out of the country. She is looking to move to Florida, and can't sell this home due to:

1) She wants top dollar
2) The home sits next to a transfer pump station (eyesore)
3) It sits on a main road (traffic, noise)
4) The community pool is behind the home and visible from the deck

The home is in immaculate condition. We can buy it furnished. We think it will make a great short-term rental in a very office-space-heavy area.

I want to offer her a higher sale price (closer to what she wants) if we can make the deal work for us.

Any suggestions?

Option 1: I was thinking she gets her $650k, she holds the note on a 40 or 50 yr amort loan. Maybe no downpayment, maybe a large one if she needs it to buy in Florida.

Option 2: We give a 10% down, she holds a 90%LTV note. Maybe a 3 year balloon that we have to refi out of so she can buy in Tampa

Thoughts?

Hi Ramona,

I have 20 years of property management and real estate licensee experience, and am also looking to network and collaborate with a syndication that could use my skills as boots on the ground. Let me know if you want to connect!

Hey there,

I am licensed in both PA and Florida with a 20-year license history and have been the owner of a PA property management firm in operation since 2009. I am currently living in central Florida. I am trying to connect with any syndicators who are looking for a "boots on the ground" partner in a deal. 

I have the time and ability to help with the deal you may have in the works, and want to help participate with my geographic location, experience and time availability. 

Any direction on how to network where this could bring value, I would appreciate it!