All Forum Posts by: Ramsin Jacob

Reading through this post now, I have to give credit to Brandon because all of his explanations are very clear and to the point. Easy to understand. Thanks for the information.

Originally posted by @Brandon Hall:

@Brandon L. yes - the only way timeless the S-Corp tax tatusnis to first form an LLC or C-Corp.

An S-Corp is a tax status. You cannot create an S-Corp without first establishing an LLC or C-Corp that then elects the S status.

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Currently working with the owner of a mixed use building in San Francisco. Great location in Richmond, district, across directly from Golden Gate park.

Plans, permits already pulled. Early stages of rehab started. Adding over 1,200 Sqft to an existing 3,200 sqft. Seller more than happy to pass all contacts and GC to buyer.

Great numbers, 6 units sold as TIC worth up to $5m

Would love to connect if you would be interested in the full details. Seller is very motivated to either sell or continue with rehab plans.

Thanks.

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@Mindy Jensen

Yes, absolutely

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Do you still have your property contingency in place? If so, you are in a good position to negotiate the costs associated with the findings from the inspection report. Send the information to the seller, along with a bid for repair, if possible. Ask the seller's if they would issue a credit back through escrow upon closing. OR you can re-negotiate the purchase price, by creating an addendum with the new PP and stating exactly why both sides came into agreement with the new PP. This is all if you still have your property contingency in place. If you removed your property contingency, then you are pretty much out of luck. I've represented buyers on deals where we asked for credit back on repairs needed and the sellers agreed to pay a credit back at closing. Don't be afraid to negotiate, at the end of the day, you are the one buying the house, you need to feel comfortable and confident with your big purchase. Good luck!

1 Vote

Originally posted by @Steven May:

I am in the process of purchasing my first home. The sellers have agreed to pay a majority of the closing costs and to fix some vinyl siding that needed to be repaired.

After having the inspection done, a mold spot was found in the ceiling in the garage - there is a bathroom located above it. The inspector believes it may be a leak from the bathroom. He is returning tmrw to do a more specific inspection of the area.

If there is an additional repair costs for a leak or if there needs to be mold removed - how do I get the sellers to pay for the costs? The house is under contract and closing is in two weeks.

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@Jeffrey Douglas

“To think & grow rich” - Napoleon Hill

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@Ken Nyczaj

Hey Ken,

Been following this thread and Im sitting in the same boat. I’m also manually processing my postcards and letters specifically to my target groups. Rather than the EMMD route, which would definitely be better for time and cost sakes but as you mentioned, its a long shot to reach your targets. Any luck on finding a reasonable business that provides this service?

1 Vote

All Forum Posts by: Ramsin Jacob

Ramsin Jacob has started 19 posts and replied 159 times.

Post: Port Covington - is this an opportunity?

Post: Port Covington - is this an opportunity?

Post: Zillow Estimates trustworthy?

Post: Doing business as a Realtor thru your own corporation or LLC

Post: Looking for those interested in San Francisco mixed use building

Post: Do you attend the home inspection as Buyer's Agent?

Post: How To Get Sellers To Pay for Repairs found during Inspection

Post: How To Get Sellers To Pay for Repairs found during Inspection

Post: Whats The Best Book Youve Recently Read???

Post: How are you using EDDM ?