All Forum Posts by: Kyle Jones

I agree with @Cody L. I'm doing this now on one of my properties, and it works just fine. 

@Joe Fairless a few things.... learning to scale/raising capital/building some new relationships. Really looking forward to it!

Thanks Michael and Scott for some input. I realize these questions are always best suited for the experts, but I know there are experts on these forums as well. That's the beauty of the forum :-)

Hello, I'm nearing the end of a contract negotiation for a 100+ unit property, and the "final" request the seller came back was the following: 

Our CPA recommended that we add a sentence to Paragraph 8: EVENTS OCCURING AT CLOSING. Seller shall deliver to Buyer:

(g) Buyer & Seller agree that the valuation of the Personal Property conveyed under this contract is $1,000 & any sales tax will be paid by Seller.

I sent the question to my attorney, but he's out of pocket at the moment. Any guidance on what this actually means would be helpful from a Buyer's perspective. Thanks!

@Brian Levredge I have a 56 unit under contract and will be coming in to town in a couple weeks. If you handle those types of properties, I'd like to sit down to talk about this. 

Thank you both! Brie, why would you recommend not using this strategy?

As a buyer, what is the largest "repair credit" or cash at closing from the seller you have seen be approved for a FHFA loan? I'm trying to build this in to my offer so that in theory, I won't have to bring the lesser amount to closing. 

Thank you both @Stephen Leonard and @John Mocker I will work to push closing out, but still review the insurance policy again they have currently. I am also planning to head out there as soon as the roads open back up to see for myself. 

Hi Everyone, I'm due to close on a 21 unit next Friday, Sept 8th. This is my second MF purchase. I received the following email from the broker this morning, and I'm curious to understand how I need to handle this from my side with 1 week left to close. 

We hope you and your family have come through the recent ordeal without any major issues. Terry has prepared as comprehensive report on the situation at Village Green. Whilst any assessment cannot be final at this stage it seems we have incurred ceiling damage to units 17 and 18.

Terry has instructed Mr Cox to commence repairs immediately and keep a tab on expenses for a possible insurance claim.
We feel sure you will agree that the priority is to get our tenants rehoused without any avoidable delay. We suggested that Terry offer any vacant units to deserving tenants (after passing her usual checks!) through local pastors. Whilst it is not possible to guarantee completion of repairs prior to closing, we are giving it our best shot.

Thanks in advance for the advise.