All Forum Posts by: Davit Gharibyan

Hello,

I have a redemption lead in the pipeline. The house is listed to two persons. One of the parties has left and the other person lost contact with them. If I redeem the property do both parties need to sign the purchase agreement? Do I write a purchase agreement? Does the title company make the payment on the buyer's behalf to redeem the property?

I appreciate all the ideas on the process, how tos. 

@Jay HinrichsIs the process similar to buying? Does the title company handle the redemption? What about the purchase agreement; do I write it the same way?

thanks

@Todd Dexheimer Todd, I calculated purchase price using 7.5 cap. Close enough. The person countered me $200k more based on the County tax assessments.  

I am not buying the appreciation story, moving to the next deal...

@Amber Gonion That would be great! Please DM me. Thanks a bunch.

@Amber Gonion Amber is there way to find out the cap rates in Twin Cities or I will have to check with a broker all the time. I analyze many properties in various parts of Twin Cities and it would be handy to have a way to figure out the rates on the go.

@Ethan Summers Ethan, what skiptrace tools do you use? I want to cold call expired/cancelled listings, however they do not have phone numbers on them. I use some tools like intelius to skiptrace but it doesn't have a batch upload option to provide a list of phone numbers. Any input is appreciated.

Hello all,

I was driving for dollars and saw a FSBO sign. Called the owner and talked to the daughter. Long story short, the owner is in the nursing home. According to the daughter, the nursing home has some sort of right to the property (might be lean, I am not sure) to cover the owner's care costs. Their asking price was based on tax assessor's value and according to the daughter the nursing home won't accept anything less.

Here's my strategy of action:

1. Get the contact info of the person who handles the matter and submit the offer to them.

2. Offer some cash incentive to daughter to motivate her to cooperate in the matter.

What actions would you recommend?

I greatly appreciate the suggestions.

@Amber Gonion I agree with you, I analyzed the cap rate, dscr, coc, operating expense ratio. When I analyzed on actual t12, the property looks like it is overpriced by 400K. The broker priced it based on Pro-Forma, which I never take it into account.

Great, I was analysing a deal on a class c property and thought the advertised cap rate low, just wanted to confirm.

Thank you. 

Hello, does anybody know what's the market cap rate in New Hope, MN?