All Forum Posts by: Jerry Kisasonak

We have an LLC in which I and my partner have 50/50 ownership. We are applying for a blanket loan which will refi 9 single family homes. My partner's credit has some dings on it and is fairly low. The lender is saying that they will write the loan provided that we reduce his interest in the LLC to 20% or less.

So my question is, what are the implications of doing this? Any feedback would be greatly appreciated. Thanks!

Great point @Micah Redden! I am going to go back over most of these podcasts again. I've found quite a few gems hidden in them!

Might be a deal. All depends. Send me the address if you'd like me to do some research for you.

I just wanted to thank Michael Quarles for all the awesome info he has shared on his podcast over the past year or so.

Mike announced on his 150th podcast episode that he's pulling the plug on it. That's a bummer because I know lots of people who were enjoyed listening. However, I do understand that putting these things together are a lot of work and I can see why Mike would want to restructure his activities. 

In any event, thanks again Michael for sharing such fantastic info!  

We have a deal where the owner was married when he bought the house. They are now separated and the soon-to-be ex won't sign off on the sale so we can close. Any ways to work around this?

Thanks BP community!

This is the shortest post I've ever seen! Welcome to BP. I'm a FT investor in the Pittsburgh market.

Yes, find the nearest mine shaft and direct it there. 

I say this in jest, but actually did used to live next to a house that had this type of setup prior to them bringing public sewer through the area. 

Go on to Amazon and order a handful of the best selling/best rated real estate books. You'll likely spend less than $100 and get tons of useful info that will be plenty enough to get you going. The only missing piece then is accountability, to which I would suggest joining a local REIA or real estate Meetup group.

You can get tons of great info on BP, but this information is bits here and there. A good book will pull multiple aspects together nicely. Then use BP to fill in the gaps.  

We recently entered into a contract to purchase a property. The seller was moving from PA to NC and was motivated to sell quick. The property is in PA. We got the property under contract. Him and his sister were on the deed. She was fine with the discounted sale price.

After we had the signed agreement, the seller moved to NC. His sister lives in VA and the now-vacant property is in PA as mentioned.

Well, it turns out the seller was married when he bought the home. He is now going through a divorce, but his wife is not cooperating in terms of signing off on the sale. She is in NY. At this point the deal fell out of escrow.

So here's my question: What can I as an investor do with this property? I was considering doing a lease with him with the right to sublet, making some cashflow on the spread of what amount I negotiate with the seller and what amount I charge the tenant. The problem with doing this is that the property needs some repairs, which I am not willing to spend money on being that there's much uncertainty in regards to being able to purchase the home in the future. It just seems to be a shame to see a solid house sit there with no plan in place to keep it from deteriorating and eventually getting vandalized. Any suggestions?

Thanks @Anca S.! Yes, that is what I was referring to.

I was surprised to see that North Dakota is at the top of the list in terms of inbound migration. What's the big appeal about North Dakota? Then I looked at the numbers. Percentage-wise they have high inbound migration. But when you look at the actual numbers it's 207 inbound and 115 outbound!