All Forum Posts by: Julie DeWolfe Arroyo

@James G. In what capacity are they your agent? If you have verbal or signed relationship that defined client customer and realtor rolls, I'd fire and report to state oversight. Highly inappropriate and unethical that realtor acts as your competitor in a transaction that you were obviously interested in and aware of. Never ceases to amaze me.

Deeply appreciated, I am encouraged by it.

More advice would be appreciated.

8 paidoff townhomes (100k per unit) aren't pulling the income necessary, hoa fees are eating the owner's lunch, he cant self manage anymore, nor can he afford property management.

Market looks good to sell 8 townhomes right now, the speculation is to buy rental homes (avoid tax)(no hoa), in nearby community, then use them to finance flips. Townhome values are more likely to be affected by upcoming market changes, homes hold the value.

Break it down and tell me what I'm missing.

Thanks in advance.

It is my plan to attend.  

I'm new to the group, so maybe my questions have been discussed at length, but I am wondering about rehab details (cost, contractors, do it yourself, home age, etc).  I would like to know what others have experienced in rehabbing the local market.  Do any of you have experience with foundation issues?  

Not a big deal, just topics that interest me.

Thanks

@Dave Foster good suggestions, will consider it.

@Bill Brandt right. Appreciate your insight.

@Cameron Harrison I cant see how we can avoid some tough times, especially in urban areas that people are fleeing. Smallish landlords might be in a world of hurt after a year long moratorium on rent. I suspect many homeowners will not be able to repay their mortgages, business closures and job loss sure wont help. Nevertheless, many states are experiencing unprecedented growth which has caused real estate markets to out price local wages. I am deeply concerned that more areas will see sudden explosions of homelessness. City officials dont see adept at balancing tax demand growth with grandma's ability to pay taxes.

@Kirbi Campbell Master the foreclosure purchase, fix, and flip. I'm running the numbers, reading the books, looking at the properties, getting my flip team ready, going to foreclosure auction to get experience, researching the property on MLS & county property sites, researching title, looking at public docs, asking locals about the property etc..

Elderly father in law did a 1031 three years ago when he sold his dairy, he was a wonderful dairyman but landlording 8 townhomes has become too difficult and isn't meeting income needs.

Trying to avoid taxes, but needing the income increase, what suggestions do you *been there, done that* folks have?

Foreclosure fix & flips and lots with new builds are the direction my partner and I are going, am I missing an obvious way to bring father in law in on short term sell for profits, with respect to his 1031?

Thanks, I need advice so I can give it.

The advice I would give any budding business is to avoid *invisible partner* syndrome. If only 1 face is publicly recognized, if the business is named after 1 partner, if banking and loans are done under the business name then the invisible partner is being disadvantaged, should the partnership dissolve. This can be especially true if the partnership is between married persons and compounded if 1 party changed their sir name. Both parties must protect their personal interests by insuring the public face of their business leaves both parties equal footing, if the partnership dissolves or is bought out by the other partner.

Invisible partner recovery can take years, you will be building your business from the floor up, while your ex partner merrily enjoys name, face recognition and lending strength.

what I learned the hard way.