All Forum Posts by: Brian Christensen

@Steve K. Best response I could have asked for. Thanks for the input. My wife is the one anxious about paying a realtor. We have sold two homes by ourselves in the past, but have usually used a buyers agent for purchase. I think I will use a buyers agent and rent our personal residence till I'm ready to sell. Thanks again. 

Thanks @Nik Krohn. very helpful. @Joe Splitrock, I didn't consider the getting access part of it. 

Hey Steve Morris,

Would it incentivize the listing agent if he represents buyer and seller? That was my thought to get the home over others. 

Without realtor, we could likely get our offer accepted over competitors in our hot utah market. Perhaps offer selling agent 3% to represent us and have better chance at getting home. 

Thanks for the replies. I think I agree that it is easier/cleaner to either sell their property outright or take on the construction loan. They are a little wary about risk. They are retired without much savings. I might try to get the loan. I believe we can build 12 units per code and each is selling (across the street) for $360k. Costs to build is the main variable. Yes we would pay a lot of tax and we will need to figure that out. One option is to sell a number of them to break even and keep the rest for cash flow. 

My parents own about .8 acre on Main Street in our town expensive/expanding town. Hot market. Homes gone in a day with cash offers. They have an old building there and we were considering tear down and building townhomes. I contacted a builder who is building townhomes across the street. We will meet with him today. My parents own th property outright. They want to partner with the builder, where they have the property and the builder brings the construction. What terms will the builder be amenable to and how can we profit from a deal like this? Would it be just as profitable to sell their building/land and not build? I understand that their are unaccounted for variables. Thanks for your expertise. 
Brian

Getting ready to sell a house. It is a nice house with old carpets. I’ve thought about not replacing the old worn carpet and just offer a stipend to a prospective buyer (primary home owner). Any suggestions on if that is a good or bad approach? I appreciate the feedback.

Brian

Wondering how to structure a partnership where we bring the property and the builder builds condo development or apartments. How would I structure the terms?

My parent own .85 acre on a busy main street outright. There are other large rental complexes just blocks away. City is approving multifamily fairly actively.

What kind of terms would be of Interest to a construction/developer? We have some money to bring to the table.

Thanks for your reply. The land records show only 823 sq feet, but they dug out the basement years back- without permits. The son said it was not zoned for multi family. Actual sq ft may be near 1200, but I haven't been in the house yet. Seller is very motivated, unsure of his dad. My parents approached me to help them evaluate the deal. I my opinion my parents should demolish their own building and build new- multifamily and if they can get this extra land it would help. I will get a CMA, but I expect:

ARV- ~240k, rehab- 25k, currently rented $1400/mo. Ins: $650, taxes: 2400/yr. owners owe 95k

My parents own a 0.58 acr business property on a main road that is growing. Their building is in poor condition. The neighbor has 0.17 acr with a run down non approved duplex. Owners are a dad and a son who own 50/50. Son needs money and is offering to sell us his percentage on the home. Area is really booming with lots of construction  

Complex, but upside could be nice. Just trying to think how this could work and need someone with experience. In the past my parents have been approved for multi family but did not proceed. 

Endgame: make condos or try to just keep the rental. 

Thanks