All Forum Posts by: Eric Geyer

Hi Bigger Pockets world! A few months ago, my business partner and I entered into a contract with a wholesaler to sell our 10 unit multi family property. We agreed on a figure that we both felt was fair and signed the contract. From what we read and the wholesaler stated to us, the sale was to be closed within 90 days. After he came by a few times and showed some potential buyers the property, we have yet to here anything from him in the status of the sale. We have emailed the wholesaler at multiple times, as well as called, texted and even stopped by his office multiple times over several weeks and have not heard anything back. We want to do what we can to close on this property, as we agreed upon, but can not get any response back. What are some of our options going forward? Can we back out of the contract due to a lack of communication? This has been very frustrating for my business partner and myself and would greatly like any outside input on this matter. We are all ears! Thanks in advance!

Hi there, A partner and myself are looking to purchase properties with NNN leases. We currently own a 10 unit residential apartment building and are looking to sell it and roll it the sale into a 1031 exchange to purchase the NNN property. Aside from LoopNet, what is the best way to find properties that would could purchase with a NNN lease in place? We are looking in Ohio, seem to have the finances in place (pending our sale of the apartment building). Any advice, ideas or leads would be much appreciated! Thanks Bigger Pockets community! Eric Geyer RPH Properties LLC

Willow T. That's a great idea. I live in Cleveland and we have a lot of ho and coming neighborhoods. I might have to look into flipping. Was planning on more of a rental property business but I suppose doing a flip here or there to build cash wouldn't be a bad idea.

Wow! What sold you on this home? Was it the price and location? What do you look for in flips?

I live in Ohio and was looking to buy a building that currently is rented to section 8 tenants only and is in a bit of a rough neighborhood. The revenue potential is through the roof BUT I have heard some horror stories in the past from renting to section 8. What advice would you give in looking to. It a section 8 property and what can a landlord do to ensure they get or retain good tenants?

In my experience, try to keep everything the same for the at the beginning. Don't rock the boat to much or too hard right away. Perhaps mention things to them in passing softly at first. Make them think you're on their side. In several months, or more if law or contract requires, then up the rent (slowly) or make adjustments to agreements such as the garage situation. People don't like change and they don't like be forced to change. Remember they are people too!