All Forum Posts by: Jonathan Emery

@John Horner

@John Horner

Thanks for the replies

The idea is for him to buy the property at a great price, fix it up and get it rented and sell to me so I have a cash flowing property. We are thinking I can buy it from him by getting a mortgage. He does seller financing to cover the down payment and would still have some to move on to the next property and do it all over again. We are trying to create a win win for the both of us. He get makes some profit and continues to do more. I get a property that cashflows and get more.

@John Horner @Steve Baldwin

Thanks for the replies

The idea is for him to buy the property at a great price, fix it up and get it rented and sell to me so I have a cash flowing property. We are thinking I can buy it from him by getting a mortgage. He does seller financing to cover the down payment and would still have some to move on to the next property and do it all over again. We are trying to create a win win for the both of us. He get makes some profit and continues to do more. I get a property that cashflows and get more.

Hi,

I have been asked if I would be interested in the following strategy to have properties in my portfolio. I am looking for advice how to go about doing this.

Someone I know wants to purchase a property with a mortgage, fix it and sell it to me leaving me with a cash flowing property. We are thinking I would then get a mortgage and he would do a seller finance for the down payment. He is also looking to have money in his pocket after selling me the property to do it all over again. I would think this is something that other investors do. I know there are a lot of holes here that we need to fill to make sure we can do something like this smoothly. Any advice would be greatly appreciated.

Thank you

Jon

Hi Mark,

Welcome to BP. I see you are interested in Florida and Allentown, PA. That is a big gap. Curious why Allentown? Do you have history with Allentown?

Jon

Thanks for the quick replies. I will not give out the information. Next question is why would a Lawyer be asking for it and not searching? lazy?

We currently have a tenant that has issues with another tenant of ours outside of the premises. This tenant went to a lawyer to have him send a letter to the other. This tenant is asking us to give the last name of the other so the letter can be sent out. maybe I'm thinking too much on this because it is just a last name but I feel this is something a lawyer can find out. Would you give it? Speak to the lawyer personally or leave it alone and not give it out?

Nan, I don't invest in Philly but I am a member of the REIA group. I would strongly suggest you ask these members if you are an active participant. Jon

Hi Stephen,

I'm not familiar with Easton yet. I'm focusing more in Allentown/Bethlehem area. I do hear that Easton isn't bad to invest in, but that it does have it's areas like all cities do. You may want to take a cruise and get a feel for how the area is especially if you may be managing it yourself. Is this a place where you will go whether it is night or day? Maybe you'll have someone manage it for you and then you'll have to really remember about what kind of tenants you will be having to live in the area you choose. Take your time and ask around. Get to know the area then search for the properties. You have two areas your focusing on. Both sound somewhat completely different. I would write it all down what is good and bad for both and then look in that area that you feel comfortable with to find a good deal. Remember everyone will have their own opinion of whether or not you should be here or there, etc. You will have to be the one to make the ultimate decision.

Hi Jon,

Thanks for responding. I'll keep you in mind if someone should come up I need help with. I hope to acquire both if possible or do something like you suggested. I'll have to find out more from the owner what it is exactly he is looking for.

Jon

Looking for ideas/strategies for taking over two multifamily properties. I received a phone call from the owner of two properties that we manage for him. He is getting older and wants to sell them but thought he would ask us first. We are interested although we are unable to apply for a loan at the moment. I know the properties and tenants well and are aware of any changes and repairs that are needed. First thing I can think of is doing a subject to and after just talking to him briefly over the phone he is taking suggestions from his CPA to just be done with them. The second option I can think of is a master lease. Is there any other ideas/strategies that I am not aware of where I can see if I can make this work? I know we have to find out more details first but I thought I just start with this post until more information comes about. I hope to talk to him again later today.

Thank You

Jon Emery