All Forum Posts by: Rafael Diaz

Coming quite late, but thank you @JD Martin and @Tom Degroodt!

So I recently I bought a duplex property from a wholesaler. It has month to month tenants, and in the original purchase agreement (which was assigned to me) it was agreed that the seller would provide the security deposit and prorated rents on the closing date. Well all involved parties neglected to tell the title company that the property was rented out and that such an agreement was made.

This was definitely a mistake on my end, as I should have verified that these terms were included in the closing documents. But as a first-time buyer this didn't even cross my mind.

Well now the seller refuses to pay me unless the closing documents are altered (which the title company keeps saying is impossible), and is unresponsive to me entirely as I try to rectify the situation. I'm trying to be professional about it, but feel like she's being overly difficult.

So I have some questions:

First off, does the seller have any obligation to pay me if the closing documents don't include this term (but the original purchase agreement did)?

Can she truly get away with not paying me? Or is there some kind of legal action I can take against her if she refuses to?

I don't want to blow this up into something huge. But if there's anything I can do to pressure her to adhere to the agreement, then I would like to do that.

It would be amazing to recover the money. But if at the end of the day if I have to lose it and learn a lesson, then so be it.

Anyways, any advice would be much appreciated!

Thank you all! I really appreciate the responses. I'll check all the websites and articles you linked

Hello everyone,

My name is Jacob (please excuse the profile mismatch - I'm using my dad's BP Pro Account).

I have a goal to buy a small apartment complex by the end of the year and the first step I'm taking towards that is to start finding some emerging markets to target. I'm open really to anywhere in the United States.

I wanted to connect with any other investors to see if anyone is doing/has done a similar analysis to see if we can share resources and maybe even work together.

For some more information on the resources I've found so far:

Emerging Real Estate Markets by David Lindahl

The following videos also talk about market selection and research:

There are other resources I've found but for the sake of brevity I'll leave them out.

I've yet to start really digging deeper into particular markets, but hopefully will get to that soon.

Are there any resources (books/videos/articles/etc) that others would recommend? 

And I'd love to hear how others are doing similar analyses, if you don't mind sharing. 

Thanks in advance

Makes sense @Filipe Pereira, thank you! The deal was so tempting that I wanted to believe the seller, but this is definitely the most rational way about it. 

So I'm looking to go under contract on a house for which the seller already had an inspection done. Because of this, I won't have any inspection period.

The inspection didn't point out any major issues, and describes the property in overall good condition. But there are a couple of items that would be nice to know but which weren't mentioned in the report. This includes things such as water contamination, termite damage, sewerage.

Turns out that the seller got an inspection package that didn't include any of the above.

Also there were a couple items on the inspection report, such as asbestos in the ductwork, which I wanted to investigate a little further. I sent an email out to the inspector, who let me know that he can't answer any questions surrounding the inspection if the seller doesn't give him permission to. This is a little worrying to me, because I can't dig into the severity of the items on the report besides what the inspector put. 

So by the terms as they stand right now on the contract, I won't have an inspection period, nor would I be able to ask more about the inspection results. I'll only have 3 days after signing to pull out of the deal.

A couple questions for those that have more experience with inspections or are inspectors themselves:

Has anyone had experience buying properties for which the seller had an inspection done and doesn't allow the buyer to have an inspection period? Is this a flag for concern? Any things I should be wary of here?

I'm gonna see if I can ask for the contingency that the seller gives her consent for the inspector to discuss the report with me. Is this a reasonable ask?

In general, is there any more info I should seek/contingencies I should try to get?

Thank you in advance for your help.

Thanks @Remington Lyman. I didn't know it had such a presence - I'm very glad to hear that!

Thank you! @Zeke Liston and @Brandon Goldsmith

And @William Alonso thanks! Yes I'm really loving the site so far with all of the great knowledge you can find. And mainly I'm in the process of building a strong "Core 4" team. But besides that, not much else comes to mind for now. I will follow up if any questions pop up, thank you.

Hello all,

My name is Jacob Diaz (sharing a pro account with my father, hence the name mismatch) and I'm currently living in Glen Head, NY. I recently graduated university and started as a software engineer. I'm looking to invest out of state, and through my research found Columbus as a great prospective market, to both cash flow and hopefully experience some appreciation.

To start, I want to target single-family homes with the BRRRR strategy. I'm hoping to get a good flow of deals going so that I can start putting my money to hard work and improve my real estate skills. I'm ready to put in the work now to enjoy the benefits in the long-term and the financial independence it can bring.

I'm a newbie when it comes to real estate, but I'm working hard to educate myself -- reading books, listening to podcasts, etc. I know that the pay-off will be immense. I'm always looking for learning opportunities so any advice or other learning resources, especially for someone looking to get started in Columbus, would be much appreciated. 

I'm posting here so I can start connecting with investors and professionals that are active in the area. It's cool to see how active this forum is, and I've already started to find some good contacts looking through the previous posts. 

Thanks!

Hello Todd, please send me info on any multi family properties in Dallas, TX area to

[email protected]

Thank you