All Forum Posts by: Olivier Chaine

Really appreciate the detailed response. For sure there are many charlatans out there - not looking to get trapped by bs setups. 

Since this is being done with the ok from the lender - it seems like we need some version of #2 - where they give the blessing with a “change in terms” or assumption - and that we negotiate what changes are acceptable. 

 Interesting approach. Since the loan has 5-6 more years at current rates, after which we would refinance, I could see how that might work. Though in this case, since we wouldn’t technically own it, how would paying taxes and depreciation work? 

(For reference, the seller wants out and we don’t know that they are ethical enough to keep longer term ties)

Somewhat unusual situation: we are in escrow on a property, and the current lender was going to underwrite the new loan. Due to complications in due diligence (seller financials), the only way that it makes sense for us is if we can assume the current debt, because it is below market rate, already underwritten etc. The lender is on board because it's in their best interests too. But they've asked to come up with a solution since the loan isn't technically assumable - something equivalent to acquiring the LLC that holds the property.

I've read enough to know that acquiring the LLC is a bad idea due to: unknown liabilities; tax liens and debts; loss of depreciation that has already been taken, and probably other reasons too. So not asking if this is a good or bad idea, because we aren't planning on doing it

Rather - what are creative solutions to do the equivalent of transferring the property without doing a direct property purchase, assuming all parties are on board including the lender?  multiple steps or extra LLCs are ok. 

And also, attorney recommendations appreciated too, as we would not do this without one that is well versed in the space. 

Looking at a couple opportunities to build small subdivisions in southern california, where we will have many of the units pre-sold. knowing that this is a much bigger project than i've taken on in the past, couple questions for advice - should i be talking with smaller builders and get the best for each, or one-stop development companies? besides financing, what's typically the biggest hurddle to breaking ground? definitely also looking for mentors in this process if you have anyone you recommend.

A friend recommended I look at a platform called TribeVest for managing a real estate investment partnership. Does anyone have experience with the platform?

Does it work for managing a syndicate or fund of funds?

Tribe Vest / Tribevest site faq is a little thin on details.

Thanks

Guesty / Smartbnb, wheelhouse (pricing), minut noise detectors, smart switches - for lights, etc, slack for team coordination.

I've used them recently to look at some markets that I was interested in, and when the numbers didn't make sense, I double checked my core market. they were still pretty far off. my guess is that part of it is a very wide gap from one particular house to another, and big ranges in property pricing and occupancy based on the mgt team. I am surprised when I talk to other managers, and some are doing well, and some are far off the average.

what did you end up finding?

Same - looking to jumbo refinance the construction of a large sf home

Sounds like they are capping rentals to 16 people max (even for large estate properties in rural areas) among other things. But biggest issue is no transparency, as the slippery slope of regulations may come swiftly

@Mark Futalan are you looped in on some of the changes in la Quinta as well? Fines with no warning owner call and other restrictions?