All Forum Posts by: James McGovern

I am looking for a loan where I am putting 20% down on a multifamily property and wanted to know whether it makes sense to bother looking at the hard money lenders on biggerpockets or should I only consider banks?

When it comes to seller finance of a multifamily property, are they typically five year baloon or thirty years. What are the typical interests you have seen?

I have identified a 108 acres in Carlisle South Carolina that I want to purchase. Of course, there are legal challenges. There are two owners. One is deceased as of 2009 and died in Pennsylvania without a will. The other lives in Connecticut and is still living. What is required for the living owner to sell this property to me?

I need a lightweight flip (no structural issues, electrical or plumbing challenges) where rehab budget is under $50K anywhere in Hartford county but not in the city of Hartford. If you are a competent wholesaler, let me know what you have for deals.

When it comes to objective comparisons between turbotenant, rentredi, innago or avail, I cannot find any public information on the security practices of rental management software. Any thoughts?

@tommyp44, @vickix1, @ryanbarone, @christym50

I am considering purchasing a multifamily at an upcoming tax sale auction. However, I have many outstanding questions for where I could not find any answers to:

1. Is the existing owner by law compelled to turn over tenant deposits to us after deed transfer?

2. Are there any novel ways of determining whether current tenants are paying their rent and aren't squatting?

3. Where can I find a multifamily apartment inspection checklist?

4. I cannot identify whether the property has an existing property manager. Is there a remote way to determine this?