All Forum Posts by: Account Closed

@Ashish Yadav que PM’s justifying themselves...

I got out of the PM business for a number of reasons, one being that if you are smart and buy a decent property. You can do everything virtually when you set up and scale. I.e Maintenance team, realtor for leasing.

Unless you scale up 5-10 units to get discounts from PM’s the numbers never make sense using them as an investor.

If you want to buy one place a year or whatever best to just buy in your own back yard and baby sit it.

@Deisy P.

Partner up. Don’t quit..

Personally I am working on a Owner-Occupied Property with ADU. Plan is to build & rent and move every couple years.

I worked with land developers the last 3 years. Lots of money in surveying, land studies, council meetings etc. 2-4 years sometimes and hundreds of thousands of dollars in just development fee's. But they reach scalability and buy buying lots that I would could buy personally for 100k for one lot. They eventually get at only 18-25K for example. 

I would say its perfect for a stay at home parent because you need flexibility, answering calls from the city, running back and forth to the site etc. 

Working a 8-5 I dont would work but maybe a WFH situation might work.

Hope this info helps

 

If you Sell Owner-finance, get a big down payment and some cashflow! 

@Ryan Copeland letter of intent. I use it to lock up a deal. Contracts scare normal people at first.

One page simple signature place. Price. Closing date. Financing condition. Simple.

Let the “lender” be the one to “require” an contract and relay to the seller... IMO.

Spot on. The legal fee's/annual fee's should be worth it if its working capital right? Yep. Good Info. 

Yep. Buy in council bluffs--- decent cashflow still there but a little bit rough. 

BP should make a rule: If anyone says something is "illegal"--- they need to also should be required to include the section and code, and settled case law associate associated with it to prove it is illegal and not just something they have never done or understand... 

No one on here is deliberately on here trying to scam/con anyone or any institution or they wouldn't be posting on BP their strategy. 

As for #3--- I have had issues regarding the "arms length" part of it trying to sell from LLC to personal and vice versa... Ended up having to sell to my wife for it to work from my LLC to my wifes personal.

Cash Flow first to get off the gig---- can get picky later.