All Forum Posts by: Cassidy Burns

Hi BP,

A great opportunity has come to me through networking!  Constantly talking about real estate really does work.  I had a seller contact me and wants to seller financing 1/4 of his portfolio (23-25 units), a mix of single gmail homes and small multifamily units, to me.  He is currently putting together the list of units and his price.  

I want to be prepared.  This being my first seller finance deal, any specific way I should structure it?  Or what should I know before going into negotiation?

Also, what information on the units should I ask for before committing?  Currently all units are occupied, under month to month leases, but drastically under market rents.  Great opportunity to add value in cash flow.

Any advice is greatly appreciated!

Hi @Kim Younkin, I currently own 5, all on 1 year leases.  I am currently in the process of purchasing another Duplex and Single Family Home both currently occupied by tenants in month to month leases and I am wondering if I should make it mandatory to upgrade all leases to 1 year or allow the inherited tenants to stay at month to month??  

Hi BP,

I just wanted to see what everyone thought of the question regarding month to month leases or longer term (1 year+) leases in lower income areas?  

Do you do month to month to avoid evictions?  

Thanks!

Hey @Jacob Hollister welcome to BP.  Look forward to seeing how you progress.

@Jeff Sprunger Do you pay the $35 or just pay the full $55 and cut your losses and never use the company again?

Hi BP,

This situation isn't a tremendously big deal but I am just wondering how you business owners out there handle this situation.

-I hired a professional lawn care service to mow my 2 units.  1 Duplex and 1 single family home.  $100 total was the pricing. 

-They sent me an email stating that they were finished.  

-My property manager went to the units and the single family home had not been mowed or even touched and only one side the of Duplex had been mowed.

-I reached out, they apologized and said they mowed the wrong single family home and "forgot" to do the other side of the duplex.  They said they would fix it. 

-1 week later they finally go back again, call me, say they can't do the single family because it will take to long, and then mow the SAME SIDE that they already mowed 4 days before and didn't' do the other side AGAIN??

-I now hired another company to mow the rest and finally got this done.  

The company is still trying to charge me $55 for the mowing of the one side 2x, and saying that they broke their mower on the wrong yard.  I told them I would pay them $35 for mowing the one side 1x and that I wouldn't pay for the 2nd time.  

How would you handle this?  Pay and move on?  Very small town that I am investing in and don't want to ruin reputation!

Thanks!

Welcome @Alvaro Arango.  Welcome to BP.  

Hey BP,

Wanted to get this discussion going and see what your thoughts were?

If the numbers are good, do you always buy???  Why or why not??

Hi BP,

As I start to acquire more and more properties, the efficiency of my records of expenses/income/ROI is getting complicated and honestly not as organized as I would like. Not being a complete expert with excel has been a big factor. Does anyone have any recommendations for the most efficient way to keep track of expenses and figuring out my exact ROI? I am looking for system that I can easily input my records and have it all in one "cloud/system."

Thanks BP!

Thank you!  I really appreciate it.

Contacting an attorney tomorrow.