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All Forum Posts by: Kent Chu

Kent Chu has started 2 posts and replied 11 times.

Post: Trying to close a Subto deal but having troubles

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6

@Shannon Schlappi I just googled a subject to template. https://pin.it/2f5qzD6

Have attorney read or draft the agreement, sign, transfer the title, keep making payments, then profit.

Post: Trying to close a Subto deal but having troubles

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6

@Shannon Schlappi I don't think you involve the bank. From my understanding is that the deal is structured between buyer/seller with an agreement that the seller keeps the loan under his name, the buyer takes over the payments with any additional down payments. The whole point is keep the original financing in tact without triggering the on due clause from the bank.

Post: Looking for Kansas City Commercial Broker

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6

Hi all, 

Are there any recommendations for commercial brokers in Kansas City MO area? I live in bay area california but I'm hoping to connect with a broker that can help invest in small multifamily apartments (5-12 units).  Any investment advices in that area are also welcomed :)

@Tammy Ly you can still find fourplexes in Oakland that'll give you great househacking cash flows if you're okay with that neighborhood around 700k-800k.

Post: Partnering on a House Hack in a HCOL Area

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6

@Alex Shapiro

It's an interesting proposition - What property class neighborhood would you settle for?

Post: I just paid an $80,000 wholesale fee...

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6
If you can’t stand the wholesaler making 80k while you make 100k then you are not a rational investor. Sure the wholesaler isn’t taking any risks but he found the deal and wants to be compensated.
How come no body is mentioning the brokers cut on your 3%? Most brokers will take 25-40% of your profits as an agent.

Post: 30+ liens and 100k+ in back taxes! Worth?

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6
I'm not sure what the arv will be yet. I will take a look at the property next week with a contractor to estimate the costs. Adam - the property is in Oakland California.

Post: 30+ liens and 100k+ in back taxes! Worth?

Kent ChuPosted
  • Hayward, CA
  • Posts 12
  • Votes 6

Hi BP,

I'm looking at this house that's listed on the MLS and it has over 100k in back taxes(property). I'm going to find out what those liens are and see if they see negotiable. This is a reo sale.

Two questions: depending on who holds those liens I will have to negotiate them individually? Are property taxes negotiable?

Any advice is appreciated!

Kent

Thanks for that useful information!