All Forum Posts by: Joshua Curtis

Hi Stephanie!

Thanks for checking in! The past 11 months have been a whirlwind. We bought/moved into our house, my advisory business has picked up a lot of new clients, we are slated to open a franchise in Short Pump early 2016, and we launched our RE biz this month, actually! 

I'd love to meet and chat sometime to hear more about your business. Feel free to email me  and let's get coffee sometime!

Josh

Hey Casey,

I work heavily in the trash biz and though yes you technically can try to fight the city on this, it's not worth it. Most municipalities that provide trash service see revenue from landfills, recycling locations, etc. and will do whatever they have to do to keep that revenue stream. 

It sucks, but it's a battle that's not worth the savings. It'll cost much more time, effort, and potential money than what you'll save. Hope that helps. 

Josh

Hey Mike, 

Not to plug here, but specific to your topic. My partner actually works with property managers to negotiate better rates, terms, & conditions on their dumpster contracts. Usually resulting in an average of 34% savings. 

Pay-for-performance, meaning we take a cut of the savings, so no out of pocket expense for you and we audit the invoices for you on a monthly basis (included in our fee). If no savings are found, then there is no fee. 

Anyway, message me if you'd like to chat about it, but we could definitely at least try to save you some money. If we can't, then we will all part ways and you'll know from an industry expert that you already have a great deal!

Respectfully,

Josh

Sorry for reviving this one, but per JT's response, they reached back out the other day. 

Offering to accept a Subject To with $2,000 down. 

That said, we are getting closer, but, honestly, the condition of the house still needs $10,000 in repairs. I offered nothing down, seller pays repairs, seller gets rid of current tenants, and I'll do a Subject To. 

They are a lot closer to accepting and my gut says we can come to a deal this go around. 

Thoughts? Feedback?

Thanks so much for the suggestions, Brian! This one turned out to be too skinny, but there were no hard feelings. Thanks again!

Thanks to you both. I'm familiar with the 50% rule, but I thought this one warranted a closer look. 

So you wouldn't recommend a "Subject To" or Lease Option in this scenario? I've never done either. I only have experience with rehabs and "normal" buy and hold transactions. 

I'd love to help her out, but need to be realistic of whether or not it works into my business. 

I guess my question would be: Is there anything that anyone could work with this and what would that offer be?

Hi BP, 

I'm not sure if this is the correct spot for this inquiry, so if not feel free to move. Short story is by way of marketing, I've come up with a hot lead on a deal in my market. I'd love advice, as this is my first potential Lease Option/Subject To deal of which I've been a part. 

This is an absentee owner that has been renting the house for a couple of years now and is tired of chasing the tenants for rent. So, one stipulation is that I would need to kick out the current tenants (there is no active lease). 

3/2. Needs a face-lift (flooring, paint, etc.) but not necessary for livability. Needs new siding (also not necessary for livability). 

Appraisal: $130,000

Tax Value: $124,000

Mortgage Owed: $109,000

No back payments, back taxes or leins on the property. 

Monthly Payment: $845

Market Rent: ~$1,200 in good condition

The seller wants to walk away with $7,500 as a down-payment. That's a bit high for me, but that's the beginning of the negotiation. 

What would you all suggest? What other information do I/you need to suggest? I

Thanks @Ryan Dossey for that? Such as current MLS for rents, expired listings or even active listings?

Here is a real quick list of what I ask. By no means an exhaustive one. But the most important is "Why are you selling?" That will get you to the motivation the quickest. 

What is the property address? 

What is your mailing address?

Beds/Baths/SqFt? 

Is the house currently occupied and rented?

What do you think the property is worth?

Does it have a basement? If so, walkout? If not, crawl space or slab foundation?

Why are you considering selling when it is listed as "for rent?"

How quickly would you like to sell? (ASAP, 30/60/90 Days, Not in a rush)

How did you arrive at your sales price?

How would you truly describe the condition of the property?

Do you own it free and clear or do you have a mortgage?

If you have a mortgage, what is the amount owed and monthly payment?

How much cash do you want to walk away with at closing?

What, if any, repairs or update that need to be done of the following:

Foundation

Roof

Windows

Exterior Paint

Interior Paint

Siding

Electrical

Plumbing

HVAC

Doors

Kitchen updates

Bathroom updates

Appliances

Flooring

Water Heater

Thanks @Sibbir Noman ! I love the Midlothian area and would love to invest here. Love the neighborhoods and the market. I would prefer to stay up this way, but the price points are higher in Midlo/West End than they are in the surrounding areas. Of course, I'm sure the quality of tenant is much better. Pros/Cons to everything!