All Forum Posts by: Chang Hee Lee

@Mike McCarthy @Isaac Barrow You guys are awesome, thank you!

Hey BP,

Been a crazy few months... started a house flip at the beginning of summer and ran into some complications there and quite a few real estate deals that seemed to drag on forever. Now, I started managing a property for someone and many questions come to mind. 

The new property owner inherited two tenants but in their previous leases that stated the tenants renewed for the 2018-2019 school year, the payment and maintenance requests are forwarded to the former owners. I'm wondering if I just need to attach an addendum stating changes to these aspects of the lease to me and other parts of the lease as well or have them fill out entirely new leases? Any guidance would be greatly appreciated!

-Chang

@Peter Halliday I alongside other investors would be very interested! If you could email or text over more information? Thanks!

@Ken Konecny It was just a regular single family in town. Apparently the buyer is from New York though but even other out-of-state individuals I've shown houses to in the past for didn't even take half that time so I was shocked. Thought they wanted to stay the night for a second.

Hey BP,

Just got done with a 3-HOUR showing (wow!). Longest showing I've ever done but I figured there were others with worse experiences so with that said...what was your longest showing? :P

Hey BP,

I have a buyer that's looking for a good deal on an multi family property that is at least 6 units or more in the Chicagoland area. Only criteria is that it needs to be a good deal (I know, very subjective), within an hour and half drive from Naperville and year built has to be 1970+. These are serious buyers and they have financing ready to go; they can close fast (proof of funds also available). Let's see what you got and let's make a deal!

@Jenny Moore Hey Jenny! I can help from Illinois side. Please feel free to PM me as well!

@Marc Middleton I wish I could do a handshake with you right now and give you a high five brother..

@Shiloh Lundahl Every morning I wake up and don't feel like getting out of bed, I think of those that didn't even have a bed to sleep on. Every time I eat, I remind myself of those without any sustenance. Every time I feel lazy, I think of all the resources and opportunities I have compared to so many in the world that are without. It is these blessings that motivate me to work harder, a way for me to show gratitude for all the great aspects of my life and continue to drive me forward.

@Kristopher Edwards Also do you know more about the seller? How old are they? Are they selling because of management headaches? Do they have a partnership and their partner recently moved to another state and now they're facing difficulties? Why are they selling and if they can't tell you, are there any indicators of motivation on their part? 

In the case that the seller is facing any of these issues or etc., you could pull off a master lease option, seller financing, etc. Just remember, commercial loans are not the only way to go!