All Forum Posts by: Ilona Davidovich

 @steve Kontos 

You are right I could just have a lawyer draft something up but Patrick is correct in that I dont have a portal with proper documentation.

I do flip a lot in Florida, that is what I spend all my time doing( I am currently working on 6, sold 1 last week, have 1 under contract and have 2 on the market), these rentals I have acquired through the years and they are steady income I know I will receive in between selling the flips, hence why I want to sell some of them and have a little less on my plate. We can talk about flips, if you want message me!

So it has taken me a few years but I now have 55 annual rentals and a few seasonal rentals that I manage, here and there I will also rent a unit for someone and let them manager it thereafter. I truly like managing rentals because it is passive income as long as you can pick up the phone and have a good handyman on staff. My system is very old school as I use google docs to track everything and my tenants all pay directly through my companies bank account and I just track it. I do not use quick-books or quicken because I honestly dont have the time to figure it out. This brings me to my problem if I were to sell say 25 houses as a management business how do I pass on everything? Is this limiting how much I can sell for because I dont have an updated process I use? 

How does this work for the owners, do they need to sign a contract that I am allowed to sell their rentals as part of a business? 

I a currently building up a portfolio of high end seasonal rentals I will most deff sell off once I have them built up and booked. 

I am good at selling homes, I am clearly confused on how to sell a business! Please help!

@Jim Blackburn Thank you! Do you think it will be an issue that their leases are ending?

Also, what is the highest price I can pay for a property using delayed financing? 

A little bit of information regarding this deal,

I am under contract for a duplex at $148,000.00, each side is rented at $850 per side with section 8 tenants. Both tenants want to renew but one lease ends the end of May and the other ends the end of June. This property must be bought cash because it is through a whole saler and now I only have 1 week until the closing. I don't want to lock up so much cash in this because I rehab homes on the side and need the funds.

The appraisal was just ordered yesterday so I see that at this point I will not be able to do the delayed financing within a few days of closing cash.

So, my question is has anyone done delayed financing, is there a big chance itll fall through? Should I look into refinancing,even though I dont want everyone pulling my credit at once and throwing off my delayed financing in case it does work?

Another aspect of this is that I already have a mortgage on a rental property and am a realtor/investor so it is generally a harder for me to get a mortgage as I have other houses ...

Please help!