All Forum Posts by: Ron K.

Value may plummet but I think that the developer will have to pay me at the least the same price he offered my neighbors. 

Hi all, 

I own a unit in such a condo, HOA and owners received offers from developers. My intention were to retire in that unit.

1) Will I have to sell if majority agree and more forward do sign contacts? 

2) Any nego strategy recommended to get most of the deal?   

Thank you in advance. 

Originally posted by @Dick Rosen:

And don't forget Fair Housing Laws, you should always take the first qualified applicant. If you have 2 equally qualified applications and you choose the second one, the first could come after you for Fair Housing violation. 

Yes, very important!  so I was nervous they'll ask why I'm delaying and force it, this just add to the why reconsider list.

Originally posted by @Greg M.:

Do you have any idea of what type of law they practice? They may specialize in maritime or immigration or tax law and have zero experience in contract law. There are NUMEROUS types of law that lawyers specialize in. Even if it were housing law, I wouldn't worry too much. As long as your lease is clear, unambiguous, and legal there should be no issues.

I checked, landlord tenant dispute was one experti...

Given all things equal, I'd rather have lawyers than kids in my units. Hell, I'd rather have a serial killer in my units than kids... Given the fact they're willing to pay more, I'd take them in a heartbeat. When was the last time you heard of a lawyer partying at 3 AM and trashing the place? 

I agree, professional and educated.        

Thanks for the feedbacks! Lawyers offered 20% more, they want it but I know I'll have to be extra careful.  I would think that the worst is that we'll cancel mid term, I'm not worried about long term.  I'm more at ease with the family, might be more handy with small fixing as well.  It's hard to leave that kind of money on the table and truth is you never really know.     

Hi All,

Need to chose between two couples, one are lawyers who offered to pay more the other a couple with two very young kids, both highly qualified.  With the first I'm worried I'll have to be on call for every little issue plus on top with preforming per the contract. Second  are bigger family, might be easier to manage.  Any suggestions?         

I own 6 bungalows 1/1 on one pastoral acre, rents below market, needs work, new windows, baths, kitchens, etc. got an offer, I could probably get $50k - $100k more if I rehab myself. Any common rule?

Hi Jd,

Agreed, I'll check into refi options.  Ferrari's aren't my thing, maybe a Porsche one day :)

Thank you! 

Happy Thanksgiving to all. 

Thomas, I liked your view on this, opportunity cost is important in finance. Will you consider taking equity out in refi with cash out for example and keep managing the house just to serve the debt as a smart use of dead equity or will you rather sale? Do you follow any rule to decide when it’s time to sale?

Right, always better to have these kind of options. Like you I’m holding my properties but need some change. Thanks for the reply.