All Forum Posts by: Grayson Graham

Hi Karen,

I work for a company that specializes in financing spec home construction in Central Oregon. We work with many local builders to finance their jobs as well as advise them on where to find lots, on what types of floor plans are in demand, and on where the market is at when it comes time to sell. Although I am relatively new to Tennant Developments I can vouch that its a great company to work with, the reason i love being involved with them is access to their highly experienced team. Being able to go to the in-house Mortgage Lender, in-house property manager, in-house accountant or any of my other mentors at the company for personal RE investing advice has been HUGE for me.

If your interested, we can chat in more detail over the phone today or in person at our upcoming Bend meetup. They are very relationship oriented people at TD  but you seem like you would be a good fit so i would be happy to make the introduction for you. Just let me know!

Hi @Wayne Brooks thanks for the tip. I understand that i need to write an addendum to the lease but its my first time so i'm looking for some guidance on how to do that. When I google "How to write a lease addendum" the first answer is to Look for templates and examples but unfortunately I'm having trouble finding any.

Hello BP and thank you for taking the time to help me navigate this situation!

Im buying a new construction single family rental and there is some uncertainty about the exact closing date. The builder is bogged down by busy subs and its starting to look like we could miss closing on 1/31 if the home isn't done in time, might take up to two weeks longer than planned. I have a renter ready to sign a lease and move in on Feb 1st, luckily she is flexible on her move in date. The renter has agreed to sign a lease with an addendum stating that the exact move in date is dependent on the completion of the home and the first month rent will be prorated based on when she is able to move it. Is this a viable solution?

Im using the Oregon Rental Housing Association fixed term rental agreement as a lease template but ORHA doesn't provide an addendum template for my situation. Any advice on how to make this addendum legitimate would be appreciated, thank you!

The Broken Top Bottle Shop sounds good to me, Happy Hour is 3-6 and Feb 1st will be Thirsty Taco Thursday!

Based on what everyones saying im just going to throw a date/time/place out here, how does 5:30pm on Thursday February 1st at the Mcmenamins in Bend sound to everyone? 

Welcome! 

I want to second what Vanesa said. The  podcasts and youtube channel are awesome resources. Bigger Pockets also sells books if you want to really dive into a specific topic.

This is probably best asked in the Marketplace forum, but you need to upgrade your account to access that. Sorry im not more help!

Whenever I apply for a morgage the underwriters want to see my bank accounts history. Last time there was a recent large deposit which they required a letter of explanation for, they wanted me to prove that I didn't borrow that money from someone else to pay for my downpayment. I think from the banks perspective if you borrow the 20% down payment from someone else then it's just as risky as of they had loaned you 100% themselves. And most banks won't do that. Anyways, my point is that my bank goes through a lot of effort to prevent me from doing what your talking about. I wouldn't lie to one of my team members and I don't suggest that you start lying to your morgage broker either. Good luck!

Whenever I apply for a morgage the underwriters want to see my bank accounts history. Last time there was a recent large deposit which they required a letter of explanation for, they wanted me to prove that I didn't borrow that money from someone else to pay for my downpayment. I think from the banks perspective if you borrow the 20% down payment from someone else then it's just as risky as of they had loaned you 100% themselves. And most banks won't do that. Anyways, my point is that my bank goes through a lot of effort to prevent me from doing what your talking about. I wouldn't lie to one of my team members and I don't suggest that you start lying to your morgage broker either. Good luck!

Consider living in the home for two years before selling so that you can take your profits tax free. This is called a "live in flip" if you would like to look deeper into it. Im on my second live in flip now, its a little slower but its great to keep all of the profit. good luck!