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All Forum Posts by: Bob Willis

Bob Willis has started 25 posts and replied 226 times.

Post: Could this be viewed as..

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

I am curious - do you need cause to not renew a lease with someone once their term is up? Is retaliation a thing in this instance? Isn't it simply no-fault once the lease is complete?

Post: Egress window seller concession vs asking seller

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138
Quote from @Roman Puzey:
Quote from @Bob Willis:

Did you go under contract assuming the downstairs bedrooms were conforming? Was it not disclosed in the listing that the bedrooms were non-conforming?

It was disclosed in the listing that the bedrooms were non-conforming
If it was disclosed I don’t think you have any leverage here in asking for concessions.

Post: Egress window seller concession vs asking seller

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

Did you go under contract assuming the downstairs bedrooms were conforming? Was it not disclosed in the listing that the bedrooms were non-conforming?

Post: Underwriting Multifamily excel for newbie

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

Look under the Tools menu at the top of the page - https://www.biggerpockets.com/...

Something like that?

Post: 401K transfer to borrow help

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138
Quote from @Maria Muniz:

Does anyone know what type of account you can transfer your 401k to, and then borrow from it/ pull from it? Without any penalties? I know I heard it’s possible, I just can’t seem to find out the right way to go about it. I tried calling fidelity and it wasn’t any help.


Are you still working for the company you had the 401k with? If you still work there you can borrow against the 401k up to certain limits. If you no longer work at the company where you had the 401k and want to access that money to continue investing you can do that. I moved my old 401k to a self directed IRA using this company. https://www.vantageiras.com/ You can then uses this self directed IRA for approved investments (cannot be used for personal use, like buying a house for yourself or family, etc, that company can help with those questions). Good luck. 

Post: anyone tried combining STR with Turo

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

I'm not saying I'd leave it sitting in the driveway. I'm asking if anyone has tried this. Maybe you could offer a discount on the car to someone who stays with you AND rents the car. Just wondering if it has been done and if so any successful strategies,

Post: PICKLE BALL COURT

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

I like the idea but I think the noise would be problematic (as others have mentioned). I live about 1/4 mile from a rec center with about 30 pickle ball courts. When I am up early in the morning (6 AM) and go outside I can hear the play while in my front yard (no noise at all in the house). I can hear nothing during the later hours of the day because the ambient noise level is much louder. But I could see living directly adjacent to a court being a problem. Also, sounds like cost is an issue from some of the posts.

Post: anyone tried combining STR with Turo

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

Hey All - just wondered if anyone here has tried adding a car to lease as an option with their STR. I have been looking at Turo, but know there are others. Just wondering if anyone has tried this and what success, if any, they have had.

Post: Direct mail marketing or cold calling for a primary house?

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138

Why not approach the properties directly. Stop on by, meet the owners, and gauge their interest. 

Post: Should I sign an exclusivity document with an agent?

Bob Willis
Pro Member
Posted
  • Investor
  • Curtis, NE
  • Posts 229
  • Votes 138
Quote from @Nathan Gesner:
Quote from @Silo Mansaray:

I came across a real estate agent that I meetup with in person and wants me sign a "Exclusive right to represent buyer for residential property". I told her that I do work with other agents. As a new investor should I sign it or not. Yes or No, why and please advise.


The agent only gets paid if you buy something through them. There's no point in spending time/energy/money working with you when there's a chance you could make the offer through another agent and leave them hanging high and dry.

If you aren't willing to commit to me as your agent, I'm not going to put any effort into working with you.


I think I look at this in a different way (maybe I don't know the definition of exclusivity, but sounds like he can't work with another agent). How does the OP know if this agent is any good or not? They met at a networking event. Why would the OP tie himself down to an exclusivity agreement. If the agent brings him a good deal he will buy, this does not require an exclusivity agreement. Is the agent only working for the OP exclusively, no, seems to be a one way street to me. If the OP doesn't like the deal the agent can take it to someone else. But as I said, maybe I don't know the nuances of what the exclusivity agreement entails.