All Forum Posts by: Account Closed

I am looking for some funding tips for the renovation of a newly acquired apartment building. Is the best practice to take another loan, bring in more partners etc? 

For lead paint testing. You might consider looking at any disclosures, including radon from the most recent sale documents if available.

I have been using Podio for my CRM. The results have been been better than expected. I started out with the free version to learn the process, watched some very good tutorials on YouTube. What is working well is I am able to design my own apps to manage my work flows. Try it out and see how easy it really is.

Thank you for the updates. How would you pitch a Master Lease with Option to an apartment building owner in order to win the deal? What is in it for the seller? 

I have three questions.

1) Why would an apartment building owner consider a Master Lease with Option?

2) What are the advantages for the owner and buyer?

3) How common are these contracts?

Thank you for the quick reply. 

Please allow me to understand this correctly.

FMV $485,000

Estimated repairs needed to reach FMV (-$100,000)

ARV $385,000 (use this amount in ASSETS column.

Then I list the mortgage balance in the LIABILITY column.

(-$75,000)

Thanks again. This is an important line item for us.

ROGERH~

Hello BP,

I am starting my Estate Plan and have a question about the home equity line on my net worth statement.

This is very important because the two figures are very different.

1) Use purchase price minus mortgage balance? ($300,000-$75,000) =$225,000 

or 

2) Do I use comps minus repairs minus mortgage balance?

($485,000-$100,000-$75,000)=$310,000

Thank you in advance,

ROGERH~

Podio look like a good CRM. 

I like that I can customize the content and import/build my own apps,

track my campaigns, follow ups and communications.

Time to get off the fence.

ROGER~

I am going to just do it. I cant get it done, if I don't start it.

Pick up Dave Lindahl's book Multi Family Millions and sign on 

for his Investing in "Small Apartments" eCourse. 

Still considering other resources mentioned here. 

Thanks.

ROGER~

Thanks Danny, 

I look forward to future business.

ROGER~