All Forum Posts by: Don Gouge

A good network of reputable wholesalers and, as has been mentioned, connections with other rehabbers who pass on leads.

How long was the  the townhouse your principal residence?  If at least two years you can sell and take a tax free capital gain.

@Shane Ryan it sounds like to me you have a good grip on the value that you can add. Why not approach the owners with an offer to buy if they will carry the note? You say you are really busy now but you could use this project to fill in during the inevitable slow times and keep your equipment and workers busy. This way you get all of the profit for yourself and help out your excavation company with the fill in work.

If you value your family relationship don't get involved in this. Eventually misunderstandings and hard feeling will occur and you don't want to lose family over money

The trick is going to be how you will prove to the owner how much your service will increase the sale price of the property. Sometimes raw piece of land that needs work will sell quicker than one in pristine shape that is priced higher to reflect the true cost of clearing the land.Why,you ask? Because many buyers won't have a clue as to how much land clearing costs or they just want to buy now and dream about their dream home for later.

So what happens if you give them money and they don't move and refuse to sell? Are you prepared to go to court? How much would your legal costs be and how long would it take to get them out? Unless you and/or your assignee stand to make a massive profit on this deal, I would either flat out refuse or just move on. Some of the best deals you will ever make are the ones that you don't make.

I get you now. Blame it on my poor reading comprehension. So not only are you purchasing the space but you are also purchasing the business. I would be more interested in the potential Tennant's business experience and history. If it's an established salon with a clientele that merely needs to move to get more space than that is a great deal. If it's a startup beautician then it's a different matter.

How much is property tax? Do tenants pay all utilities? What is the current Tennant's payment history? Is this space suited for any other uses other than a salon? Are there any obvious maintenance items coming up that will be the responsibility of the "HOA"?

Without looking it up I believe you can manage as an affiliate broker but then you are under a broker. Licensing laws exist not only to protect the consumer but also to tamp down competition. 

Don't invest in socialist states.