All Forum Posts by: Nick M.

I appreciate the tip @Matt L.

Hi All,

As far as I know the likes of Zillow, Trulia and HotPads don't allow you to export leads (e.g. rental leads) to Excel or CSV.  You have to (at least I do), open up every email and manually make note of the person's name, phone number and email address.

Has anyone figured out a more efficient way of doing this?

Thanks

Thanks all for your feedback!

I'm trying to purchase a quad that sits right next to mine.  The owner and I have struck an agreement on price but he is dragging his feet, as he figures out how to avoid paying tax on a property he will be doubling his money on.

I suspect he is trying to find a property for a 1031 exchange, but with none in sight,  he is dragging his feet executing a purchase agreement.

Given this situation, any thoughts on how I can quickly purchase or otherwise take control of the property's cash flow?

Hey All,

Purchasing a building in Philadelphia, PA as a New Jersey resident. Do you recommend the LLC that will own the building be incorporated in PA, NJ or does it not matter?

Thanks for your advice in advance.

Consider speaking to an attorney.  Intent of the document might supersede and allow you to recoup.

Moreover, consider if you haven't already, asking the tenant for the rent. Clearly you are a not-for-profit org, so no way would you rent for free.

In the long run, this as a tenant you want out. Surely an ethical tenant would have informed you of no rent deductions taking place from her account.

Hi All,

Feedback requested.

* Situation: I am in contract to purchase an apartment building.  Purchase price $1.5M,  $400K down, for a loan of $1.1M  By making extra payments towards the principal and a large lump payment I expect to have the loan down to $400K in 5 years.  Similarly, by making extra payments I forecast being able to pay down this $400K balance in an additional 7 years.  That makes payoff in a total of 12 years.

* Financing offered:
1) 4%, 5 year fixed at 30 amortization

2) 12 years.  First 7 years fixed at 4.375%.  Second 5 years readjusted at 5 Year Treasury + 2.625%, floor rate of 4.375%

3) 10 years fixed at 4.75%

* My Goal:
First priority is get loan balance down to $400K.  If I can pay this off in another 7 years, great.  If not, no worries.  My intent is to keep the building indefinitely.

Of the 3 financing options I have, what would you recommend?

Thanks all for your feedback.  I netted out by offering her a 3 week window to move out and $400.  I think in the long run this is good, because the apartment will be vacated in the summer and I can raise rent to market - and of course, bringing in a person of my liking.

Hey guys,

Here's the situation.  Based on it, would you evict or not?

- Inherited tenant Oct 2016 in NJ

- C class area
- Always late on rent (excuses included spent money during holidays, was traveling for work, car was hit and now claims mom passed away)

- For added flexibility when she signed my lease papers (previous owner had verbal agreement) I said she can pay rent on 7th of month rather than 1st

- Despite that flexibility she's always late (pays by end of month)

- Keeps apartment clean

- Quiet tenant

- Pay $100 less per month than market

So the question is evict or not to evict OR do you suggest an alternate solution (incidentally I just emailed her with a cash for keys offer...no reply yet)

Thanks

Consider looking at small, community banks.  They tend to have less restrictions.