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All Forum Posts by: Brian Kloft

Brian Kloft has started 5 posts and replied 128 times.

Post: Clever Ways to Navigate around Tenant Friendly Laws in your state?

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110

I agree with others, proper screening of tenants, doing what you are supposed to do, don't be a slumlord, respect your tenants and treat them nice. Those are the main things to do. Also know the rules and laws so that you don't step on a landmine.

Post: Seller Financing Reneged One Hour Before Closing

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110

We are all doing a bunch of speculating here because none of us have all of the details or the contracts. However with all of those saying that they think there is no contract because your lawyer canceled it, I think they are missing your other statement that you only ever signed the original agreement. I don't think your lawyer can actually cancel the contract without you signing the cancelation notice. Without your signature on the cancelation I would guess that it is just a warning from your lawyer to them that you would be canceling. Perhaps NY is different but here in AZ your lawyer can't modify or cancel your contract without your signature on the notice. So if you didn't sign the cancelation notice I doubt it was an actual cancelation notice. Normally on something like this our answer is check with your lawyer so I think that answer still applies to this as we are not lawyers. 

Personally I would hold their feet to the fire for one of two options. Either they close the deal that they agreed to. (You may be in a town of only 50k people but what is she going to say? You made her do the deal that she agreed to? and that is horrible how? To complain she has to say that she was breaking the deal because she didn't read a 4 page document selling a property for $750k. Or she didn't have her attorney review it. It will only make her seem foolish.) If you don't want to hold their feet to the fire and make them close then you should at least demand damages for canceling the contract. Since you went under contract I am assuming that you have spent money on inspections, attorney fees, getting other things ready for close? Plus you are now out the interest on the money that you have wired and your time. I am certain that if you breached the contract and didn't close after all of your outs were gone that they would want to keep your $10k earnest money and wouldn't just give it back to you. How hardball you want to be is up to you.

Post: Looking for Oregon Coast Investors Wholesalers Etc

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110
Quote from @Taj Richardson:
Quote from @Brian Kloft:

Are there any meet ups or get togethers for people that are dealing with the Oregon Coast? I am actually going to be up in Bay City (Tillamook) for the first part of February, renovating one of my units there. So if anything was going on then that would be amazing and weather permitting I would go to it. 


Hi Brian,
There are currently know Oregon Coast meetups that I am aware of. We had one started in Lincoln City right before COVID. We were about 3 meetings in, then the shutdown stopped that momentum. 
There are really no Oregon Coast focused wholesalers or bird-dogs active at this time, but I belong to half a dozen or so Valley based wholesaler email lists and see Coast opportunities from time to time. I've got a few things cooking right now if you are interested in getting a meeting set up shoot me a PM here on BP and we can set something up. Would be nice to connect and maybe meet in person in Feb.


 That sounds great, I am sending you a pm.

Post: Property management fees question - PLEASE

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110

First off I am not familiar with the laws in your state. However most states allow non licensed people to do all activities on one property. Typically this is so that apartment complexes don't have to have all of their office staff licensed. Also often if you are working directly for one owner and not multiple owners then you are an employee of that owner and that is often a way around the licensing rules, but you would need to be their "employee" not a manager their hired as an independent contractor. Again every state has different rules so verify it. As far as compensation goes, hourly is fine since you don't know how much time it will take; but make sure to have a minimum amount to compensate you for being 'on call' in case there is very little to do while they are on vacation.

Post: Looking for more modern baseboard heater options.

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110
Quote from @Catherine McElwain:

We recently replaced baseboards with mini splits.  That was definitely a lot of work, but they have been efficient and our tenant is happy with them.  


 I am looking at mini splits as an option but with it just being the bedrooms it will not pencil very well. For the main living room it might if that one is dead. 

Post: Looking for more modern baseboard heater options.

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110
Quote from @Colleen F.:

@Brian Kloft   If you have electric baseboard heaters you need a line voltage thermostat with the proper amount of amp. Here is a discussion on the topic.  line voltage thermostats     I had a similar issue but did not install new heaters so I don't know if there is anything with a this type of approach on the heater. We have three heaters controlled by a wall thermostat and used a relay and a thermstat because we needed 22  amps.

We do have minisplits in the rest of the house which is more efficient.


 Thanks, I have one property that has one of those in it already and I replaced that old dial one with a digital thermostat. The two bedroom baseboard heaters are dead so I need to replace them anyways. I am also looking at minisplits. 

Post: Oregon Multi Family Year in Review and Market Outlook

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110

Good info, thanks for the insight. I didn't even know where Langlois was before your post. If someone had said that name to me I would have thought it was from Lord of the Rings. :))  

Post: Looking for more modern baseboard heater options.

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110

I have a property on the Oregon Coast that I need to replace some electric baseboard heaters. These and cadet heaters are very common in the area. However I am looking for a more modern option. For example when I replace a cadet heater I typically spend more and replace it with the new digital thermostat ones. You can actually set a temperature (instead of guessing the temp with turning the dial) and it will also adjust the amount of power it is using based on how far away from the set temp that it is in the place. I am looking for something like this for the baseboard heaters. More controllable and more efficient. I am also open to the idea of a different style of heater such as a wall mount as I have seen plenty of those that have modern controls but for replacement simplicity I would prefer to stick with baseboard heaters if I can find what I want. Any ideas? Thanks 

Post: Looking for Oregon Coast Investors Wholesalers Etc

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110

Are there any meet ups or get togethers for people that are dealing with the Oregon Coast? I am actually going to be up in Bay City (Tillamook) for the first part of February, renovating one of my units there. So if anything was going on then that would be amazing and weather permitting I would go to it. 

Post: Insurance Broker for Older Retail Center

Brian KloftPosted
  • Investor
  • Arizona & Oregon Coast
  • Posts 128
  • Votes 110
Quote from @Kim Hopkins:

As it so happens, we are asking for a seller discount, but do need insurance prior to close regardless. The current carrier said they reassessed b/c it's a new acquisition and declined. Many carriers are doing this as I know you're aware.


 Hi Kim, Have you found insurance for your property? I manage for others and own some properties here in Phoenix. Some of them that I manage are old properties just like you are buying and insurance can be a bear. One of the properties had multiple insurance carriers site wildfires as a reason for decline because of a small mountain across the street. The type of property that you have is what I have dealt with most of my RE Career. Let me know if you still need any help or advise. (Not looking for a listing, just offering to help.)