All Forum Posts by: Michael Vallee

Would really appreciate any insights into how to or ways to break lease with tenants? Here’s the scenario - buying a 4 plex that was all rented out in Aug for 1 year on 3 units and 2 years on 1 Unit. At about 40% below median rent for the area. Also, when they expire are at a key time of the year when college students return for fall semester. (Entire town rents out near school) So, not sure I can turn that quick and may miss the window. How soon following any hint of Non compliance, late payment or any other means outside an ideal tenant can a lease be broken? Open to ideas... Thank you in advance! Michael #propertymanagement #landlord #leases #tenant

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Michael Vallee

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http://iprocurehouses.com

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Great @Clint Looper - it would work well to build a clientele for a property management company. 

Here are some stats that were a result over a few days, that led to actual sales conversations. 

Let me know if you or her have any questions.

Best,

Michael Vallee

http://socialsellingautomation.com

Here’s a story of how I got a FREE Cabin. Lease Option Purchase (172k) 2yrs ago Then Vacation Rental (VRBO) that paid for lease cost, used cabin when not rented or blocked out our own time - sold in March for $187,500. I had contract with “and or assigns”, but ended up connecting seller and buyer and received an assignment fee for the difference. The end https://www.zillow.com/homedetails/17135-S-Mescalero-Dr-Munds-Park-AZ--/7379019_zpid

Hey Clint Looper have you checked out automation on LinkedIn? I’ve been setting up campaigns for clients across several industries https://youtu.be/k76NxK9THQw Be interested in how to tie this to what you are doing to generate leads for folks here on BP Here’s a straight link to free trial http://socialsellingautomation.com/freetrial Interested in: Motivated sellers | off market deals | multi family Be great to chat - Michael Vallee Http://socialsellingautomation.com

Jeff Kehl mainly seeking to determine the rules for valuation. Does appear to be a bit gray. I like to know what I'm getting into before signing up for something is the goal. Thank you for sharing - great to hear the insights. Best, Mchael

Ron Dancy thank you again for the suggestion on student housing - having the parents co-sign for their student provides some great assurance of payment. Parents are easy to deal with whereas the students themselves are a bit flighty. So far so good! Going deeper into this model by converting a portion of the house that was a studio and a 2br/1bth into a 4br/2bth "rent by room" model to max cash flows. Will net about $750more/mo than the preexisting configuration even after the increases utilities bill on my part. And I can open these up to airbnb market. Fun stuff! Michael

Andrew Johnson Okay - assessors office seems to be the key here. I will make sure this is part of my assessment process when I come across this scenario again. Oh, I am very discerning about what is posted in listings - especially on these commercial Proformas - (optimistic to not realistic) Much appreciated! Michael

Andrew Johnson Lee Ripma Thank you for your insights - although I'm still not 100% clear in what makes make this "8plex" commercial legitimately. (I don't get into deals without knowing how to exit) I'm looking to buy more 5+ units and see these what I would call residential units (4 or less) getting grouped together and showing up in my search. Is it zoning? Is there a way to make this objective vs subjective? "Why?" Because I am very good at adding value and NOI - so want to be sure I'm being measured by those standards for value. Appreciate the insights. Michael

Harjeet Bhatti yes. 2 different parcel #s