All Forum Posts by: Ben Kappel

Being an agent is like dating 20 people at one time, and each one doesn't know your dating others.  I make sure to make each client feel like they're the only one I'm working with.  But if that was really the case, I would be bankrupt. 

Are you looking at any particular part of ND?  I'm on the western side, and though rare, I do see an occasional contract for deed home option.   Hit me up if I can be of help, I have some rentals in Bismarck, so I keep a close eye on that market as well. 

As a newer agent, one thing I found difficult to find online is the various different contingencies contract can have depending on different situations. (outside of the very standard one's)

I've learned a few new one's in the forums search that have helped, but thought I would ask experienced agents if they have any more sophisticated or rare/unusual contingency wording they have used in the past.   

I look forward to making a word doc to use as a reference for my hopefully long career. 

 This is fantastic!!  As a newer agent, I always wished someone would write a book or blog with hundreds of contingencies and different wording for them, based on different situations that a new agent could refer to. 

Best, quickest, and easiest way, using the OnX hunting app.  I cant speak for other states, but in ND I can open my hunting app and see every property owner and some of the time their contact info.  This works especially great if your just cruising around since it can pinpoint your location. There's a free trail I believe if you want to test it out. 

Then I found if its an LLC, I can dive into the state gov page and search the llc, most of the time it gives a mailing address (po box) and a home address, then lookup that home address in OnX and find out who the owner of the LLC is.

I find it fascinating that no matter how private you try to be, you can find out pretty much anyone's information. 

Second best I found is just using the city tax assessor webpage. 

That’s really great info, thanks @Joe Splitrock.    Sorry I missed those earlier posts on the subject.   

I was hoping someone would have started a thread on this already but....

What are your thoughts on the new proposal for monitoring transactions over $600, 

and how could this affect real estate investors??    

As always thank you very much for the advice. Much appreciated.   The deal closed and worked out with some extra closing credits, and the appraisal also came in lower which helped get that price down to better reflect the property. 

So first to start I’ve read the other forums and I already know changing an offer price is bad practice after the inspection normally. 

My question is for the long distance investors offering on multi family without ever seeing the property.

 My price offered was based on the units being relatively updated (word of realtor) and only saw pics of the one vacant updated unit.  
The inspection showed the other units have not been updated since the mid 70’s and will need major overhauls during their next vacancy.  (We’re taking about still having those 70’s yellow appliances) 
The seller will most likely take care of the multiple active leaks and other problems from the inspection.    

My question is, is it still bad faith to negotiate price now that I know the building looks like a money pit of updating for the foreseeable future and not the deal I anticipated during the discussions.  

Don’t be too afraid of a 5-10over30 loan.  I had one lender want 30% for conventional.  Talked to another and got a place for like 17% down for a 5 over 30 loan.  In 4 years your gonna wanna refinance and pull money out for the next rental property anyway.