All Forum Posts by: Brad Garcia

I have been trying to research information on one question I have with the Option to purchase of a RTO:

Being the purchase price is negotiated at the beginning of the lease, how does a landlord/seller cover themselves in large improvements to the property. For example, if the roof is replaced but the purchase price stays the same, the tenant/buyer scores a sweet deal. Am I missing a clause typical for an agreement?

Just reaching out to get more educated before talking with a local real estate attorney.

I am asking the same question but specifically in Romania, Bulgaria, Greece and Hungary. I am currently working out of Bucharest and it is painful to be on the renter side. They key European markets may not make sense, but less familiar ones may hold opportunities. I have met a couple investors here and they seem optimistic for investing in the Eastern Europe, at least in the next 2-3 years. There are more legal hurdles, but there is always a way.

I have a tenant that wants to add a "relative" to his lease because his current roommate is moving out. We require that any new tenants be added to the lease and conduct a background/credit check to see who is living in our buildings. 

So I find out the "relative" was evicted about 45 days ago with a detainer to the previous landlord. Already the relative appears to have moved in. 

Not to shake things up but the the current tenant has been paying their rent, but when the vacating tenant finally leaves, it seems to be a big unknown if the remaining tenant and his new relative will be credible of paying next month's rent. Why should I add a tenant to a lease that was just evicted? Luckily, they are month to month and the vacating tenant will be leaving at the end of the month when the month lease is up. 

My big question is- do I deny the relative to stay in the property and issue a notice that the two tenants are violating their lease- which may be grounds for eviction.

-or-

Don't worry about the situation and simply not renew the lease at the end of the month, forcing everyone in the apartment to leave.

Hello, I have come across an off market property in which the owner knows there is an outstanding contract for deed. From my understanding, the current owner has fulfilled the contract but the past seller never executed or recorded a deed to the buyer. This is a new one for me, so just curious if there have been similar experiences and what the resolution to this is.

I was thinking to talk to a title company to do a title search, but since I know it is not clear already, will this help in the resolution? Should I be inquiring with a lawyer instead?

Is it possible/or advised against to purchase the property with a Special Warranty Deed or Quit Claim Deed? And with that type of risk, can an attorney/title company predict any issues in correcting the title?

What is the typical process to clear the title? Find previous owner and ask to execute the deed or take to court (based on evidence the current owner made good on the contract?)

Thanks for any insight!

I have looking into financing and have come across this idea of doing an interest only loan to purchase a multi-family. The thinking is, I really don’t have a desire to own the property, but rather maximize the cash flow the property can make and then sell in either 5 years or match closer to the terms of the IO loan (depending on market conditions, etc.)

Having more cash flow would enable us to improve the property conditions, thus rents etc, repositioning the properties performance for the future sale. Also, we are looking to reinvest excess cash flow into a liquid investment, roughly 4-5% returns, unless it makes sense to invest in the property. All revenues would be dedicated to the investment until we sell the property.

Here is the comparative analysis that I am seeing after doing my research:

Doesn’t it make sense to simply do an IO loan given the following controlled assumptions:

Put excess cash flow to work in alt. investment with lower risk.

Plan to sell the property in 5-10 years.

Am I missing anything, other than who does IO commercial loans?

I did take a GIS course during college as well, using ArcMap, but ESRI Had a little bit of a learning curve. I have a copy of AutoCAD's Map 3D, and really like it since it is the same interface as AutoCAD, but I have yet taken the time to really learn the GIS functions. Currently, I am using the poor man's GIS- Gooth Earth Pro (which is now free), and manually create queries using Excel CSV files. 

I donee the hardest a part is acquiring the data. the city of Fargo, ND does have an online GIS tool which allows selected elements to be expected into Excel. I basically selected everything and combined all queries into one master Excel file. I believe most societies have a similar resource otherwise city planning/engineering agencies may provide it- as long as you are not conspiring to do anything illegal. Maybe with recent security threats this may be harder to obtain... Data that I can't find openly is information that the MLS would provide (sales history, listing history, etc).

Anyways, from there I create filters, formulas, etc. to manipulate the data in I Excel which I then import into Gogogle Earth. Google Earth has a basic style editing wizard, which seems to work for what I have been playing around with. 

I found some publications from ESRI advertising towards the real estate industry, but I thought I would reach out to see if anyone has used any specific datasets in helping them find deals or analyzing deals. It seems like there is a benefit, I just need to find what it is and if it worth the effort.

Has anyone found effective ways to analyze/use data in GIS in to support investing decisions? I have done some basic queries and visual analysis such as a heat maps for appraised property values, price/sq. ft. and absentee owner flags. 

just curious if anyone else is using GIS and how...

Have a contract on a duplex- C home in C+/B- neighborhood. 140k contract price based on observable repairs. Inspection showed sewer needed to be repaired which will be assessed to the property – 12k. Is it reasonable to negotiate the purchase price in regards to the new specials? Asking for 5k off the purchase price as I will not need to worry about sewer, but I feel the original contract price assumed there were no big issues. Seller initially came down 5k during initial negotiations. Let me know if I am missing anything… And thanks for any thoughts!