All Forum Posts by: Ben McMahon

Sounds good, if I don't answer shoot me a text and I will call you back.  Thanks

I guess it wasn't really that silly of a question.  Given that it does seem to mean different things for different people.  

@Jerry W.

Interesting angle.  That property is also in the flood plane, which is part of the cashflow issue.  It also has the least amount of equity.  Which is kind of annoying.

@George Taylor

All the properties are leveraged to different degrees.  Which obviously plays a role in the decision making process.  1 and 2 are wrapped up together, and 3 and 4 are wrapped together.  There is more equity in 3 and 4.  Maybe 50% give or take

So I am having a cashflow issue right now, and Im not sure what to do about it.  Without getting into the nitty gritty of why I need the money, I am planning on selling one or more properties.  I really don't want to sell anything because I worked hard to get these properties, and over the last few years I have only kept the ones that are solid.  It seems like a step backwards to sell anything because my longterm plan was to grow a large portfolio of properties.  

I have a lot of money tied up in some other projects, and I don't know when those are going to pan out.  I owe money to some people, some people owe me money, but its been tough lately.  So, the question.

Which property should I sell?  There are a few that are tied up with other investors, so they are off limits, but the ones that I plan on possibly selling are 4 different ones

1) Hot Corner - Single family that we renovated a few years ago in an almost exclusively commercially zoned area.  I can rezone and make into an office without many upgrades.  Its at an extremely busy intersection and can be used as small office or flex space.  Problem is that it would take months

2)Picket Fence - Perfect little 3 bedroom in quiet area.  Really good rental, and have had a solid tenant for a couple years.  Not amazing cashflow, has been almost maintenance free

3) Double up Duplex - Bought this sucker at the bottom of the market, and is worth twice what I paid for it.  Its got tons of upside because the whole area is currently getting new roads and a new bridge etc.  The place itself has good cashflow, but its an old building.  

4) First time Townhome - My first investment property I bought in 2010 and like the others has been a great property.  Its worth more than double what I bought it for, and I've always had good tenants.  It also has some sentimental value, although I am pretty good just looking at what makes sense.  

I realize there are a ton of variables here, but I have to do something.  So which one?

Great Duplex for new or experienced investor.  Have owned it for about 4 or 5 years and has always been easy to rent.  Currently fully occupied, and is in an awesome area.  Right next to elementary school, and 2 minutes from I66.  Ideal for commuters, and is getting a new sidewalk and driveway.  

The whole area is under construction, but the place has a ton of upside. Perfect for investors in MD, DC, or VA. I am selling because I need some money, but its truly a great property. I renovated both apartments in the last two years, did a few roof repairs and a few other preventive maintenance items. Its an older property, but has very few issues. I will probably put in on the market soon if I don't get anything from BP. I just don't feel like going through the listing and loan process.

The rents could easily go up in both units to 750 each.

Whose attorney drew up the agreement? I partnered with attorney once on a JV and got screwed. Bottom line is that you need to protect your asss....et. I am not the best at legal, but my answer would be that you probably aren't protected by the agreement.

If you have an LLC, why don't you buy the property jointly? You are correct, that the second mortgage protects your original investment, but unless you have a lien or direct ownership, than my guess would be that the language in your contract has a loophole. They all do.

I am assuming its tax reasons that you aren't taking ownership.  

All that negativity aside, if your initial investment is protected, I would still go for it.  Your risk is pretty limited.

I would agree its between the lines.  It makes sense because the easement needs a border.  Its not like a buried utility line that just runs through.  It has to take up the whole space.  Just do a moveable shed, a really big one

Nate S. I own a brokerage in your area. I would chat with you. Pm me

Lauren Van Riper I stop reading the posts halfway down. Sorry for the repeat. Seems like there is a common thread and you already know what to do. I will say congrats on the title of your post because it's attention grabbing. That's what marketers like to see. I like the cash for keys. That's a solid choice. I will also agree with a few others, she is probably telling some truth and mixing it with lies and exaggerations. As a pm I've gotten myself to tied up in the drama a handful of times as well,so I understand how that can happen. The best thing I've been able to do in those situations is to bring in somebody else to finish handling it. Either another pm, or attorney, or husband, or whoever. Your history might be in the way of progress at this point, and your most likely losing sleep over this thing. Give someone else all the details and orchestrate from a distance. That's my advice. Don't know if that's a repeat, but nobody is worth ruining your peace over. It's one house, lesson learned, get it off your plate and handled correctly. You can use all that energy making money somewhere else. There is an opportunity loss that goes beyond all of this.