All Forum Posts by: Saim Chaudhry

Hi all,

I usually either do all the letters myself or have outsourced it to my VA> However, I am growing and can't manage all the letters and neither can my VA, but I don't want to hire another VA that I don't trust.

I was going to use yellowletters for the first time, except it seems that the earliest day to ship out 123 letters will be July 7th. Then I have to wait for another 3-5 days to reach the owners. I don't want to wait half a month!! I need my phone ringing by next week.

What I am looking for is a service that will allow me to send a typed letter with handwritten envelopes and handwritten signatures, and one customizable/mail merge field within my letter. That's it. Simple.

Thanks

Brian, what an awesome response

Thank you for taking the time to explain. I am watching some of your videos as I type this. I certainly have a lot more research to do before I get my feet wet.

Hey all,

I have been looking into lease option assignments lately. It seems like an awesome, and profitable concept. I have a lot more research to do. Does anyone have any recommendations of podcasts, books, etc to read for this? There are a few things that I have not fully grasped onto yet. All the hour, 2 hour long youtube videos are informative, but still don't give out 100% of the information as they are just one long teaser for some guru promotion.

Also, would it be profitable and wise to incorporate yourself a profit in the backend of the L/O as well, as is done in a sandwich lease option, where you get paid when the option to buy is exercised at the end of the lease, or is it much wiser, less liability, and outweighs the risks to just collect your option assignment fee in the beginning and move on.

Thanks

Congratulations!!

How did you find the property and how did you finance the deal? Was it a motivated seller you marketed to? I am thinking of marketing to motivated multi families as well.

Thank you Sharad for your detailed response.

Also I am in Sacramento if anyone has any county specific guidance regarding the seller financed buy and hold market

Hey BP,

I am playing around with an idea in my head today. A seller financed Buy & Hold. Is this a common thing? I am new to REI and playing with this idea, as my credit is not so great (got a little crazy when I turned 18), but it is on the rise back up and I am much more responsible after my crazy years of maxing out cards.

What are the terms usually like? Are they all usually short term such as 5 years with a balloon payment at the end? Any one have any good articles or podcasts to check out on this specific topic?

Does the seller still maintain ownership and title to the property? Can this seller financing strategy only happen if the property is free and clear? Also, what is the reason for the seller not just keeping the property and keeping 100% of the tenants check for himself, rather than seller finance to you for a lower rate and allowing you to have some cash flow. Is there an exit strategy if I decide to sell the property, can I only sell the seller financed note? Also, if the seller still has a mortgage out on the property, does the "due on sale" clause apply? Perhaps I have this all wrong, but I am looking for some general guidance as I really like the idea of havring a seller financed buy and hold with a tenant already in place.

Great meetup, Thank you to those who put it together. Met some great people and will definitely be attending future events.

And on another note, I also have 3 properties I am interested in with the executor being "City Attorney"

Is this the same idea as the PA, are the 2 terms interchangeable?

Mark,

Thanks for the reply. The properties I am looking at are not listed on the MLS and have not been touched yet. Perhaps they just have not gotten around to them yet. Should I call the PA's office to inquire about the properties? Is MLS the only way they will go to sell or can they sell directly, or allow me to put the property under contract?

Your method of buying out interests is quite creative and will require some research, but I will look into it. If the PA is adamant on listing the property on the market and not selling directly, then I may decide to go this route.

Thanks Mark, always good info from you

I have come across this a few times, it lists "public administrator" as the executor in probate records. I am interested in a few properties, but am not sure what it means that the public administrator is the executor. On the MLS, the title of the property is still under the decedent. Does the public administrator have the authority to sell? What does it mean if public admin is listed as the executor, no heirs or family? Where does the money go for the property after it is sold?

Thanks!