All Forum Posts by: Austin Shireman

Quote from @Jared Hottle:

Do you have someone in your area who specializes in sending notices or a real estate attorney?  I would ask them what date specifically you need to send the notice but to be honest I would just serve the notice and give them only the 30-days. Tell them you are looking at rehabbing the property and need it vacant. No sense in going longer or overthinking it. 

Does the 30 days need to end right at the end of a lease? Or could I end it in the middle of April and only charge them half rent? Just would have to have the terms in the lease for that month I would think?

My parents took on a tenant who turned out to not be the greatest. They don't keep the property in the best shape and have started to not come up with the rent money. They are on a month to month lease. Our biggest priority is getting them out with as little hassle as possible so we can go in and rehab the property and get a good tenant in. Looking for some feedback on what we have came up with on giving them their Non-Renewal notice. We are required to give a 30 day notice but we are giving them until April 30th to vacate the property, we are also willing to let them not have to pay rent for the month of March and April. Does this seem like a good strategy?

Thank you!

Question to the BP community.

If someone had a land contract on a property, improved the property and increasing its value, and then wanted to go to the bank to finance out of the land contract, could you do a 75-80% LTV loan? For some reason a local lender here says they won't do it since they don't own the property..

Hey BP,

Asking for some advice on a situation with financing. My parents bought this 9-acre farmstead using owner financing 2 years ago. The house and property were in a very distressed state but they have modernized and fixed the property a lot. The property also has an old farm hand mobile home on it that was rented out. My parents also did a complete gut and update on the trailer once the previous tenants moved out. They now want to go to a bank and try to get it financed through them but the first bank they went to said that they couldn't lock the interest rate on the loan with the rental being on the property. Is this common? I would've guessed that it fall under an owner-occupied situation maybe? They also want to make sure all the improvements to the trailer are included in the appraisal so they can get a nice LTV on the farm. Any advice out there would be appreciated. Thank you again, BP!

Hello BP, 

I am 19 and recently applied at a real estate brokerage for an agent position. During the interview, the managing broker was worried my age might make my business hard. So he tasked me with coming up with 50 contacts of people I don't know (Name, Phone Number, Address, and Email address), was wondering if anyone on BP had any ideas or advise so people can take me seriously. I plan to go door knocking and maybe trying some social media, but people just don't seem comfortable giving out that kind of info. Any help would be appreciated. Thank you! 

Hi all, I am new to investing and I noticed a house appear in a up and coming town that I thought would be a great investment. But with how busy my schedule has been I didn’t get to pursue with it any before someone else made an offer that is currently pending. Is it too late to try to make a deal? How do I go about it? Any help is greatly appreciated!