All Forum Posts by: Robert Burnell

@Kano Wu

I would first get a written agreement with lease in place. No less than 5 years. The lease would also state that the company would cover maintenance issues for the property with certain stipulations of course. I would also look into getting a liability insurance policy for no less than 2 million.

No lease. No deal. Unless the average tenant rent will make the numbers work as well.

Hope this helps.

@Jean-Paul E. Gagnon

Although I haven’t used them, I’ve considered working with them. I follow them on social media and have spoken to them a few times about a deal prior to the pandemic. They are actually still lending at this time. I’m curious to know someone’s experience with them.

@Bernard Sanga

I currently rent a SFH in Miami. Never met the landlord. Don't have his number. The previous owner sold the house after about a year of us living here. The previous owner advised us that the new owner would email us with payment instructions.

Simply put. We deposit the rent in his business account and we don’t get evicted. Simple.

If you’re able to collect cash (because you’re local) I’d collect cash until a system can be put in place. Is recommend having them deposit the payment in your business bank account if your bank is local to the area. If this isn’t an option, money order by mail with tracking.

@Andy Green

Hello Andy,

Have you looked into house hacking? Honestly I think it’s the best way in. Wish I would have known this before I purchased a single family home years ago.

@Canesha Edwards

First off. Good luck with the deal.

There is no way to get this deal done without all the numbers. How would you pitch an investor if you have no certainty on the numbers? The sellers could have you sign a NDA then provide the information so you can get the ball rolling.

Also if you don’t mind me asking. What is your largest deal to date? 84 unit complex would seem like a multi million dollar deal.

I’m pretty sure once you see the financials, and the numbers work, you’d have no problem raising capital.

@Damon Wong

I don’t see any issues beside filing fees. I’m in Florida so they charge annual filing fees. I do business in Ohio where it’s a one time filing fee. Check with the state where you do business for fees.

@Damon Wong

If I’m not wrong. You can set up foreign LLCs in the state of doing business. I’m not a lawyer by far. But that’s my plan of action.

@Sarah Shockley

Hello Sarah. Have you looked into ADU's. This route may be an option if you have the space.

@Evelyn Castillo

Hello. I’m currently in Homestead. Hey neighbor.

First off you should set your expectations in what type of investment(s) you would like to invest in. Are you looking at turn key properties, fix and flip, etc. Second, how can this company bring value to what you are trying to accomplish. South Florida real estate is very expensive and you don’t want to waste money where it’s not needed. I’m interested in connecting if you would like to bounce ideas and share knowledge.

Robert

@Aaron K.

You’re right. Business is business. We should be more lenient in the current situation but 800-1350 is quite a bit of money. Investor or Charity? They must decide.