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All Forum Posts by: Justin Egge

Justin Egge has started 7 posts and replied 24 times.

Post: Contract for Deed & Renting

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

Thanks for the response, Chris!

Post: Contract for Deed & Renting

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

So a couple of friends occupied a rental property without a lease, and a 'promise' of a contract for deed situation from the owner. Now let's ignore the idiocy of that no-lease/contract decision. Now the owner is telling them that because of the type of loan on the property, he cannot do a contract for deed, nor can it officially be a rental with a lease. So what we have is two people paying rent and utilities in a home without a lease, contract, or any proof of an agreement. 

Again, try to ignore the idiocy. Question: is it true that certain types of loans can restrict a contract for deed option and/or lease?

If it changes things, the owner stated, "because of the interest rate I was given, I cannot do it..."

Sounds like a load of junk to me, but asking to help inform their ongoing discussions with the landlord. Thanks in advance.  

Post: West Metro Meetup Starting

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

Count me in.

Post: Dryer Replacement: Front or Top-Load?

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

Whoops, thanks for catching my typo, Gail. Meant to state that the washer went out, not the dryer. 

Post: Dryer Replacement: Front or Top-Load?

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

I had a front-load dryer go out in a SFR. Any guidance from the experienced on replacing with a top or front-load unit?

Post: Dryer: front or top-load

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19
Hello BP squad, I had a front load dryer go out in a SFR unit. Any guidance on replacing with a front vs. top-load unit?

Post: Dryer: front or top-load?

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19
Hello BP squad. I had a front load dryer go out in a SFR unit. Any council on replacing with a front vs. top loading unit?

Post: $0 money in = $4680 in passive cashflow...another HomeRun! w/PICS

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

@Thomas Lorini thank you for the response and additional materials. After a bit of study, it makes far more sense and I am one step closer to being more effective in this realm. Thank you for the time!

Also, congrats on your progress as well. Glad you shared the story.

Post: $0 money in = $4680 in passive cashflow...another HomeRun! w/PICS

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19
Possible dumb question here - why would cap rate be calculated prior to debt service expenses? I would think loan costs would be deducted before NOI calculation, dropping the cap rate as result.

Post: Old Listings on Marketplace

Justin EggePosted
  • Rental Property Investor
  • Apple Valley, MN
  • Posts 24
  • Votes 19

Are BP's marketplace listings not updated and/or have an expiration to them? Most listings in my area seem to be 1+ year old. While I can manipulate the data using the basic filters, there is still a considerable amount of sifting through dated postings that are no longer current or available.

Has anyone else experienced this, or found a better way?