All Forum Posts by: Peter Matthews

Hi.

If anyone has someone they would recommend I'd appreciate a referral.

Thanks!

Does anyone have advice on these single piece units (not stackable two unit)?

I'm concerned about venting requirement and drainage need.

Any info or model experience appreciated.

Thanks.

Based on similar experience my advice is:

1. Don't do nothing, hoping it will go away.  This will piss the seller off more and you don't want a wounded animal with a lawyer;

2. Don't talk to the seller, period, and forbid the agent to talk on your behalf, period;

3. Have a lawyer write a letter.  This will at minimum let the seller know you are represented if he wants to sue, hopefully increasing cost of suing in sellers mind;

4. Put specifics in the letter about why the deal does not work for you.  The will not change his mind but will inform that you have sound reasons and are not just being a jerk.  This will also help if it goes to court/arbitration;

5. Offer half the earnest money, being prepared to offer all of it;

 6. Be prepared to increase your payment.  Have a drop-dead number in mind, after which you'll fight;

7. Have an airtight release executed if you are able to reach an agreement.

Good luck!

Thanks all.  I appreciate the advice.

I'm about to close on a purchase of a bank owned two unit rental.  The bank is, of course, unwilling to provide any information about the person occupying one unit (the other is vacant.)  I'm in tenant friendly NJ.  Does anyone have advice re removing this person if he/she becomes a squatter?  It's possible the person has a medical condition.  Thanks

Wally,

Welcome to the community. Other that the wealth of information available here I suggest you network at one of the local REI groups.

If you want more details pm me and I'll be happy to help.

Good luck!

I agree with everything Donald said.  There are tons of free resources here on BP and you learn much more networking, attending meetups, and posing questions here.

Good luck.

Wondering if anyone had any success flipping in these two counties.  Looking to gauge potential.  Any advice appreciated.

Thanks Michael...I'll take a look

Has anyone run into any reliable online sources for average rents by zip.

I'm aware that HUD has something like this but was looking for another source.

Thanks

p.s. I'm aware that legwork is the most accurate source!