All Forum Posts by: Dustin Lavender

@Davere Currie buy a rental property

I’m selling a piece of property. The first in a long line of investments. I do not have to sell it but I’m greedy and it is worth a lot more than I paid for it. I want to be able to work with a buyer. I’ve bought a lot but never sold. My question is, can I offer a buyer cash back on the sale? For instance I could say if you offer full asking price I’ll give $15k back at closing or some such? Is this unethical? Legal? Any thoughts or advice are greatly appreciated!

@Christian Ramirez I would for sure shoot for a package deal and close them together if you can. Negotiate with the seller to see if you can get a price drop based on a double purchase too.

“”This agreement highlights the importance of landlords following the law and making reasonable accommodations to their pet policies for tenants with disabilities,” said J. Paul Compton Jr., HUD’s general counsel, in a prepared statement.” ^^^^^^^^ quote from the article. Interesting that they say to amend pet policy, when they don’t consider ESA pets. The real issue for me is thst they say ESA is a medical accommodation and MUST be permItted, but no other medical accommodation has the ability to crap in the floor and naw on the moldings.

I have bought a dozen in that price range using a local bank, all commercial loans, they do not care what the price is as long as I can show on paper how it makes money. I walk in just like you said and pitch it to the commercial loan officer.

@Shiloh Lundahl you would be screwing yourself. It might be a great referral, but if you need a higher LTV than what that bank offers, you would be better off to shop around. Or you could go to the first one someone suggests.

@Shiloh Lundahl that's great except, if you don't talk to them and shop around you have no clue if you are overpaying on rates or getting screwed on LTV. I still suggest spending a few days talking to loan officers.

G talk to bank loan officers.just walk in and sit down and start talking. Explain to them your plans. Ask about their loan-to-value limits some local banks will go as high 95% ltv some are low at 75%, but will finance ANYTHING that appraises. On that note, ask if they do in house appraisals. In house appraisal is basically a loan officer drive by. It doesn’t cost near as much and is much more likely to garner the result you are looking for because they know your price and where the property needs to be for the loan to work. Ask them if they will do leverage deals, and if they have done very many. Most of the time at a local bank your loan officer is basically your sales guy, because they take your pitch to the board that actually approves or denies the loan. If you don’t think they can do it move on to the next one. Good luck.

EForms.com

This would basically be an owner financed situation, except you wouldn’t be getting a down payment.