All Forum Posts by: Brent Blum

Next summer, this will lead to an increased supply of long-term rental units (and a drop in rental prices in communities such as Mission Beach).  Might even be a few good deals to pick up from folks who'd rather sell than change their business model.  

Hey, @Account Closed!  The property is in the North Park neighborhood of San Diego.

I want to sell my 2BR/1BA Tenancy In Common (TIC) in SF.

I'm looking for a referral to an agent who helped you sell a TIC (not a friend of yours or an agent you used to buy a property). I'm also looking for tips on how to pick an agent for my unique situation:

Unique Pro:

• The unit is located directly across the street from an international tech celebrity.  I realize this has zero impact on the price assigned by the appraiser, but for the right buyer, my hypothesis is that this could be attractive. 

Unique Con:

• We still have a group mortgage.  I've been working with my three other co-owners for months to refinance to fractional loans.  We're getting closer, but I'd like to sell soon and redirect the money into other investments.  It's a long, complex story, but the current situation requires an all-cash buyer.

An additional theory: this might appeal to an international buyer looking for a trophy property.

How do I pick an agent who knows group TICs and has the best chance of finding a (possibly international) all-cash buyer who values celebrity? 
 

Of course, there are lots of good TIC agents in SF and lots of local cash buyers. And the unit has many merits beyond its celebrity neighbor. I'm just trying to think creatively and optimize my sale, expecting that the group loan will negatively impact the sales price.

Thanks for your help!

Looking for a cleaning service that will integrate with my Airbnb calendar, such that they are automatically notified of near-term bookings or cancelations.  Must either take my linens off-site to clean & return or allow me to rent linens.  

Anyone have a company they'd recommend?

@Jake Walroth , how'd it go, did you lock it down?  :-)

My $0.02, having lived in Cincy for 26 years:

* Mariemont - A/A- community - same with Mason & West Chester
* Parts of Pleasant Ridge, East Walnut Hills are solid C+, others solid B... much better upside than Mariemont, West Chester, Mason.
* Madisonville (with the exception of a few areas that border Hyde Park & Indian Hill) is an easy C.
* Skyline - Always an A+

Gonna check out Equity Team.  Anyone else have other recs for PMs?

I second the recommendation for @Kevin Fox !  Good luck with your search, @Bryce Baker.

I'm working on an off-market, pre-foreclosure flip and need help structuring the financing.  Facts:

• $757k purchase price
• $752k total debt, $260k of which is past-due debt
• $925k ARV, only needs paint & carpet
• Gross profit, before the costs of financing, is expected to be $90-$100k.  I hope the flip takes 2-3 months.

I have a few people interested in the deal - now time to talk terms.  Obviously, this is all about what I can negotiate though I'm looking for a fair starting point... and also trying to be mindful that I should take care of the investor.

I'd either need $260k to buy the property subject-to (but risk the bank calling due-on-sale) or I'd need $757k to buy it outright.  I can put some skin in the game... maybe $35k. 

Should I be offering something like 3 points + 12% APR? How would I know if an equity stake made more sense... something like a 60/40 split?

I'm Pro and I'm also not seeing the Message option after clicking on the Connect button.

@Jazmine S., @Michael S. - did you ever get to the bottom of this?  

@Arturo Limon , I'm new to SD and looking for deals to buy, ideally a 2-4 unit I can renovate.  Have anything?