All Forum Posts by: Account Closed

Awesome. Thank you @Sean Murray! and @Dan Genzel and @James C. for your assistance. We might just pursue owner financing the land.

@Dan Genzel, this land is located just off a main road (everything west of it is farm land, everything east of it is new warehouses, and manufacturing, and research spaces. There are self storage facilities located in the vicinity. That is a good idea, and I would assume that wouldn't be hard to look at.

@James C. Those are some really good ideas. I'm curious to see about leasing the land while someone builds on it. I'm going to talk to my inlaws about these options. Very interesting! Thank you!

I have never thought of this subject before now, and I am completely stumped... My in-laws have asked my wife and I to assist in getting a lot they own on to the market, and sold within the next few years. We are interested in helping as this may have the potential of my wife and I being able to receive as a gift a portion of the sell and invest that as a down payment for a rental of our own. Let me describe this lot to you. It is a corner lot, zoned for commercial, and I believe light industrial (? I'll have to check the county's records tomorrow). It is in a developing section of town where large business are moving to, or expanding. It has two sets of full utility hook ups (Electric, Water, Sewer, Gas, Telephone, and Fiber). It is about 10 acres on a corner lot, with both roads recently paved. It has a natural spring on the property, and is located in a flood zone (but so are all the other manufacturing businesses next door). Besides getting an agent and having it appraised, what other suggestions would you have for us about this land and selling it? And tips? Success stories? Funny stories / experiences? I would like this property to do well, as it could help fund our REIs.

Hi Everyone! 

I'm really excited to have found the BP community. I've been watching the forums and browsing and satisfying my curiosity about the subject and science of REI.

I've talked with a few landlords in my local area, and they have lots of issues with renters meeting the due dates for rent (typically, due by the 1st, Late fees start applying after the 5th of each month). One of the issues that I've seen arise lately, and is tending to be a trend is for a tenant to write a check, mail it, and by the time it is received by the landlord the funds will bounce, be denied, or the check is canceled by the renter.

I'm preparing to take over / assist with a few rental properties (family owned) and I wish to avoid issues with these items. Has anyone on BP have experience of only allowing certain methods of payment to satisfy the rent payments? I'm thinking of limiting the payment of rent to Cashier's Checks only.

What  are your thoughts?