All Forum Posts by: Roshan K.

@Storm S.

Maybe after I've bought as many properties as I can handle I will start funneling cash flow into a lower maintenance investment like you mentioned. I'm looking for big cash flow right now to live off of

I found a 96 unit apartment complex for sale for 21 million. I lost my job last month. I have no money. My credit score is 600. I’m 46 years old. I’ve been in the rat race all my life. I have no family or friends with money. Today is my first challenge from reading The Miracle Morning. I got up at 4am this morning opened the door let God in Meditated. My question to you the BiggerPockets family is how can  I acquire this apartment complex with no money and no credit.  How can I get my name on his contract and fine investment partners. Any Information would be good information.  Thank you  in advance 

@Roshan K. Is that a current survey that you purchased and that the title company has reviewed? If so, and the title commitment identifies those encroachments as specific exceptions on the title commitment, you would say "Not acceptable. I need affirmative title insurance coverage for these encroachments." 

In that case the title insurer would evaluate all pertinent info (such as period of time of use and type and extent of the encroachments). They might require additional premium in order to insure over these issues (which the seller should pay, imo) or they may say "No" and either you would need to agree to accept the risk or the seller would need to fix the problems... because they essentially built over someone else's property -- 3 times!

Generally speaking if a buyer facing this scenario moves forward with the purchase, he/she would want to be sure that SOMEONE ELSE pays for the damages if forced to remove the house, deck or driveway. Either that or price for that possibility.

Buyer would want to have affirmative coverage for forced removal... and without knowing whether those are overhead or underground utilities, it's tough to say whether a title insurer would agree to that. Worse odds if underground. If there is any good news it's that the house itself only violates the easement by ~2.5 feet.

 yes SFRs

built teams and bought at court house steps

I have no interest at this time personally in MF

NO

Roshan K. What amount would you deem scale? I'll probably own 10-15 SFR before I go to multifamily and then like Jay Hinrichs said eventually I'll end up investing in debt or notes