All Forum Posts by: Samuel Barton

Bigger EM deposit to show them you are a serious buyer for a longer option period?  I would try to negotiate that.

10 days is pretty typical for an option period.  I give one week for a wholesale transaction.

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Why can't you use gift money as a down payment?  

Hey Carlos! I am an experienced real estate investor in the Central Texas market that just moved to Richmond, VA. Let's talk! I would love to have you on board.

I can find you a few multi-family properties for that amount in Killeen.  All cities are good for buy and hold if you can get it for the right price.  Obviously the ones with appreciation and cash flow are nice, but small cash flow is still a step in the right direction.

Hey!  It is awesome to meet another young investor!  I am 24 years old and have the same excitement about it as you.  I leverage my age all the time and started on the buy and hold side vs the active income side.  I would love to network with you further.

Read "Flip" by Rick Villani and Clay Davis.  There is some great knowledge in that book for the beginner.  Also, feel free to send me a message.  I can get you plugged in with a network of investors in LA.

Get estimates on the repairs as soon as possible.  She may have the place professionally cleaned before she leaves (fingers crossed).  I would most certainly keep the deposit and make her prove that she didn't damage the property. 

This is ultimately an attorney question.  I am not an attorney, but I can tell you what I would do.  You can charge her for anything that you believe she should pay; however, she can simply not pay it.  Then you guys would have to just handle it in the court system if you deem that it is worth it.  Did you use a property management company?  Did you have a deposit?

Is this property in Temple?  I am not seeing where "smart switches" would add value to a rental in that area. The cost of living is already pretty low, so I would go purely off of the average rent per sq ft in your neighborhood. I would go with the standard light switch and put the "smart switches" in your new home.

Most certainly a real estate attorney question.  It is worth the couple of hundreds to get one drawn up for you.