All Forum Posts by: John R Kepler

excellent points!

This weekend the female tenant of one of my properties called requesting I take the male tenant off the lease as they split up. The last thing I want is to be in the middle of this dispute. Both names are on the lease and listed as being financialy responsible. I have had no communication with him. At the moment I am in a holding pattern to see if this works itself out. My question is how to proceed legally and ethically with regards to the lease and deposit. Appreciate any advice.

I have in front of me my first term sheet for a short term buy and fix construction loan.  What are the critical items to look for? Which line item can be a potential bag  of snakes?  Very interested in hearing from investors who have used these products. Very interested in answers to questions I don't even know to ask.  The one thing I know for sure is I don't know enough. Thanks.

Hey Bobby thanks for the advice. I have been on the phone with Kevin. There is some kind of glitch in the ap software but he has figured out a work around. He is a go getter but I would expect nothing less from a fellow Marine. Yeah I 'm a jarhead.

Thanks Jarrod, that rings true for me. Do you have any smaller lenders you could point me toward? There is an overwhelming number of lenders out there. We are just ramping up and our deals are often in the low one hundreds  and under after down payment.

Is there an advantage of building a relationship with a lender in terms of better rates and service as you grow a prove yourself? Or is it just a numbers game so you might as well shop every deal for the best rates? Looking for answers based on experience.

Ran across a listing of two homes on one lot. Both in rough shape, one rented and one vacant. My hunch was that this lot could be subdivided and the homes rehabbed and sold separately. A few visits to city planning and the court house confirmed my hunch. I was told others had looked but apparently none dug as deep as I did. It turns out there were no recent surveys and that is where most quit. I noticed in the tax records that each home had it's own tax account and one had a plat reference the other the same with a suffix. GIS mapping had the lot outlined as two lots but no data available for that area. There were no deeds to be found in free public records.  My realtor was able to find 3 plat/page references in the brokers paid data account. I went back to the records and found a survey from 1956. The deeds of each sale were for investors buying the lots as a package. However each deed referred back to the 1956 survey of two separate lots.  I was now confident to make an offer below an already low price. It was accepted this afternoon. The one rented property supports the purchase as is. Everything from over and above will be bonus.

You very welcome Pup!!!

I couldn't agree more Nathan.

I don't really know how people were using creative leverage back then because there were no investor groups (that I was aware of) and no internet for us to share strategies. I would say for novices particularly back then you needed a very knowledgeable realtor.