All Forum Posts by: Brandt Fanion

@Chad Kastel reach out to Jan Nastri at Nastri Real Estate in Syracuse. He is one of the top seasoned commercial investors in Upstate NY and I'm sure he wouldn't mind connecting with you.

Is a real estate license required (specifically in the state of FL) to operate a STR property management company? If for example someone were to manage the bookings and market the property on air bnb or VRBO on the owner's behalf, would a real estate license be required?

@John Bastidas Hey John, Are you a CFRI member? There's quite a few Commercial investors in the group that could likely help you out. There's a virtual event tonight that will cover advanced investing techniques as well. You might be able to join as a guest if you reach out to the Admin on the CFRI website.

I'm looking at a property in Nashville, TN that's owned by an out of state owner. The owner has suffered from medical issues and is now declaring bankruptcy. The bank will be foreclosing on the house in 6 days. Is there still time for me to purchase the property, assuming I had a buyer the following day? 

I would be viewing the house tomorrow and getting a contract signed. 

I have a seller that's interested in selling her 3 bed 2 beth SFR in Nashville, TN. She is an absentee owner who is renting the property to a tenant until Sept. 2016. She wants to close quickly and with all cash only, will not consider lease option. This specific neighborhood only has one comparable property that sold for $65,000 below her asking price in June 2015, but the property is nearly identical.

She currently owns the property free and clear, and is the trustee of a revocable trust. (I'm not exactly sure what that is.)

I need assistance is coming up with my MAO, but have not walked the property to determine repairs. I would be selling this to a landlord investor. Being that there is a tenant in the property, I image most repairs would be cosmetic.

Any advice? 

Thanks,

@Brandon Turner happy birthday Brandon. 

Thanks for the post. I'm glad you were able to recognize the scam before it was too late. 

@Drake Bigley I can relate to you in some ways. I am a couple years out of college and just began my REI adventure. I have spent the last couple months listening, learning, and connecting with RE professionals.

The best advice I can give is to sit down and write out a plan for your future. What is it that you want to do 5, 10, 30 years from now, and how do you intend to get there? 

If you take out a loan to go to school, you will have to pay that money back with interest. Will that piece of paper put you in a position to live the lifestyle that matches your long term goals? 

To answer your other question, you can start with little money, but just realize it will take you longer to get to wherever it is you want to go. 

@Vonetta Bookercongratulations Vonetta! I'd like to hear a little more about this project. What were your numbers? How long did it take?