All Forum Posts by: Rick D.

This is really a legal question. Hopefully a BP attorney from Minnesota will weigh in, but practically I can tell you this is no big deal. I would not participate in the purchase of a survey, but it seems to me your worst case scenario is you'll have to move/realign a few feet of fence. An licensed attorney from Minnesota came advise you on issues of "adverse possession" or whether or not you have a "prescriptive easement". But, why even pay an attorney? If it turns out that a portion of your fence is on your neighbor's property, just move it.

I'm considering purchasing a beachfront condo.  Does anyone out there have examples of either of the following they'd be willing to share??

• Detailed monthly cash flow statements in spreadsheet form populated with actual dollar amounts (certainly ok to redact address, etc)
• Annual Property Operating Data in spreadsheet form populated with actual dollar amounts (again, certainly ok to redact address, etc)

Unlike normal rental properties where the rent is consistent throughout the year, these rents swing wildly from peak season to off season, so I want to make sure I am modeling the cash flows correctly.

Sincerely,

- Rick

I am attempting to purchase a property in SC.  It's my first foray into that state.  The listing agent is telling me SC law requires me to be represented by a real estate agent and that my offer to purchase must come from my agent and not directly from me.  Does anyone know this to be true?

I performed some consulting services for a client in Florida. The short version of the story is this.

• Client owns a portion of an existing shopping center, and some of his portion is undeveloped (the “surplus property”).
• I attempted to buy the surplus property for my own development purposes, but I could not come to terms with the Seller.
• Seller (not a real estate guy) decided to attempt to self-develop the surplus.
• This is where my “Seller” became my “Client” as he hired me to handle the development for him.
• I’d put in a lot of time, but now the only way to monetize the opportunity was to pull out some consulting fees.
• He hired me (yes, we had a contract) to determine what to build, how much rent could be expected, to coordinate with the other tenants, navigate through the leases, the REA, etc.
• It now appears he is not going to pay me the last installment of my fee.

Can I file a lien? If not, do I have any other recourse?

Is there an investor-friendly real estate agent out there who is interested in a possible coffee meet-up?

Are there any Nashville-based, investor-friendly real estate agents out there interested in a short notice coffee meet-up this evening (Wednesday, 2-11-15) or tomorrow over lunch?

I am considering investing in the Nashville / Middle Tennessee area and am looking for an investor-friendly realtor who knows the market(s) and might be interested in a coffee meet-up. Any takers?

Assuming that both houses and the underlying property are all under common ownership, see what it would take to split the lots such that you have 2 instances of "1 house on 1 lot". Further assuming the resulting two lots are legal lots (typically a municipality will not allow you to create an illegal lot), you can then have each appraised separately given a "1 house on 1 lot" scenario. This will result in lots of comps for the appraiser to use as reference.

Could you provide a little more info? What was the original basis for the denial? Aside from that, the first thing I would do is explore subdividing into multiple lots. Usually you can put a primary structure on each lot.

I'd like to piggy-back onto Lydia's question. I have been struggling to find a clear and concise synopsis of whether or not to create a solo-401k or self-directed IRA for myself from which to invest in real estate. What specifically is the difference between the two? Pros? Cons? Etc. Can anyone point me towards a info source, book, article or website providing instruction/clarification on both? Most web searches for solo 401k come back with self-directed IRA sites.