All Forum Posts by: Clay S

Quote from @Nate Marshall:

Quote from @Amir Batouli:

I see the original thread on the syndicator who went dark and the LP had to find out on BP that the property was foreclosed on has been removed. Maybe the GP (who is very active posting on BP as an "expert" looking for suckers) has good enough lawyers to threaten BP into deleting the original thread?

These GPs have a great interest in keeping their potential LPs (marks) ignorant so they will be protecting those interest mob style (dealing with rats). Especially as they keep raising funds from new suckers like that particular GP who is now raising funds for another multifamily value add deal as we speak.

 Absolute fact! Keeping LP's in the dark is an art and science. Some have perfected it.  

@Scott Trench what happened to the original thread?

Cool property.  Maybe want to change the 3 night minimum you have around most weekends?  We've found most weekend stays are just Friday/Saturday nights.  

@Bill Exeter or @Dave Foster is it possible to take proceeds from your sale and divide between multiple TIC structures? Or are the full proceeds limited to one TIC structure? Do TICs have similar timelines as the traditional 1031 exchange?

I had been following the legislation, but didn't come across this thread until now.  If I'm correct, while the bill passed the house, it never passed in the senate and is 'dead.'  Correct?  

https://www.govtrack.us/congress/bills/115/s2756

"This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not enacted by the end of a Congress is cleared from the books."

We have a condo rental in a building which burned down end of August '18. HOA has been requiring payment of $100+/mo. of HOA fees, despite the property being completely uninhabitable, fenced off, demolished, and finally starting to be rebuilt 9 months later. Has anyone had any luck clawing back HOA fees on uninhabitable properties? Just wondering if we have any legal argument against paying fees for a property clearly not in use.

There is nothing in HOA bylaws which addresses a situation like this, yet property manager of HOA says we have no option but to pay.

I guess my situation could be worse, but I have a great multifamily under contract which very conservatively needs about $20k worth of work to be 'nicely' fixed up- new stucco, paint, carpet, updating bathrooms and kitchens, etc.

The problem is I already have an FHA loan, and won't qualify for the ideal FHA 203k program. Any ideas on how I could finance this rehab and mortgage together? Are there any conventional loan programs that would provide such financing? It might be tight financing with hard money at 70% ARV, but it could be an option, and then refinancing to hold as this will be owner occupied.

Any ideas would be greatly appreciated.