All Forum Posts by: Jason A.

thanks for that @Ernie LaRose

welcome @Ernie LaRose - thanks for the post and introduction. Are your five SFRs in CT? What do your acquisition costs to rent ratios and cashflow look like? Curious as I started investing in the Midwest and Southern states - in the CT / NYC areas the numbers can obviously be challenging. 

noted - appreciate the feedback @JD Martin

Hey all - a tenant has raised the issue of a registered sex offender living (or "frequently staying") at a home on the block. 

My property manager has not provided much help ... I have a call into an attorney to discuss how best to respond to this - thought I'd post here in the meantime to the extent anyone has thoughts or ideas. 

According to my tenant, tenant became aware of this and so did a number of households on the block. Parents are concerned as there are lots of kids around. My tenant has young kids which are "the same age of the victim". The tenant, who's not been the greatest, was quick enough to point out that fact that this "will impact rents in the neighborhood". It is interesting timing as tenant is currently sitting on the lease renewal application.

I am not sure if anything can be done - assuming this offender is currently in good standing with the law, I'd think the individual is entitled to live their life - which includes staying with a friend or family member as desired. However, I do take this extremely seriously and want to ensure all info I receive, and that is ultimately provided to tenant, is accurate. I appreciate the concern. 

It may be premature, but my sense is I am not willing to decrease the rent due to this development.

I'll update you on any feedback from the attorney - appreciate any thoughts. 

@Mark Douglas - so let me revisit this Mark because I was not aware. 

In other words, UNLESS 1 of the 4 is met, one needs to refi in order to vacate and make a second (or additional) OO FHA insured purchase?

I assume that simply vacating the property and bringing in a tenant would NOT require the satisfaction of any of these four conditions (providing one is NOT pursuing another FHA insured mortgage).

Thanks for this - very helpful. 

very helpful - thanks @Mark Douglas

Hey @Mark Douglas - thanks for mentioning as I was not aware of the possible need to refi out. Also not sure of the four "acceptable situations". 

It is worth looking into with a few lenders @Grey Haubert (ask the same question to three + lenders to ensure you get accurate info!) 

Hi @Account Closed - thanks for your comment. using the double close will shield your spread on the deal - but only temporarily, correct? (which is all you need) but ultimately your purchase and sale becomes public record - is that right? Thanks. 

thank you @Gabriel Amedee - helpful. 

Hi all –

I'd value feedback on managing and approaching a wholesaler (when looking for a flip or BRRR opportunity). I have perused these forums – including reading The Ultimate Beginner’s Guide to Real Estate Wholesaling by Brandon Turner, however, seems the info I’ve seen is framed towards wholesalers themselves – how to become one, be effective, why/ why not, pitfalls, etc. and not necessarily how an investor should think of / work with wholesalers.

These past several weeks I’ve been looking for a deal and have met with a few wholesalers. For those of you who have experience buying from wholesalers, I am curious to understand your strategy in negotiations and what level of transparency you expect (if any).

Do you expect your guy to disclose what his assignment / finder’s fee is? I appreciate the “as long as the math works, it shouldn’t matter to you” view, however, one guy I met with said from the start that he’s 100% transparent, while another guy said “it should not matter” what I paid / what I’m making. While this is correct in theory, as an investor who’s relentlessly looking for value, I can’t help myself – I really want to know!

In addition to any value that comes out of a more transparent relationship (at least value for me) – does anyone have specific strategies they’ve found successful when working / negotiating with a wholesaler?

Thanks.