All Forum Posts by: Stephen Lassiter

Thanks @Dawn Anastasi. Yeah, I had just got done verifying that I could deny smokers and he said sure because they're not a protected class, and then he later recommends I not rent to females, a protected class. Unreal. 

I'm just shocked. This was my first experience with a lawyer and I guess I had high expectations, especially since this was a referral from someone in the industry. I needed some validation from my fellow BiggerPockets peeps. Thanks, guys.

I saw a lawyer yesterday to get advice on becoming a first-time landlord and I feel like it was a big waste of time and money. I feel like BiggerPockets forums provide better legal advice than this guy.

When he told me that I don't need to retain my rental application records, I became worried that this lawyer isn't giving me good advice. Then, he also told me I don't need to document my tenant screening criteria and that I should rent to males instead of females because "in his generation" females were tougher on properties. 

I should fire this guy right?

I've learned a ton on BiggerPockets, but I felt like I should visit an attorney to validate what I'm learning here. I'm not crazy am I? This guy is giving terrible advice right?

Thanks @Nate Garrett. The house is in the Riverview neighborhood near downtown.

I have a 99 year old house under contract. I'm looking for home inspector and structural engineer recommendations in Tulsa, OK. 

Does anyone have any tips on what to look for in such an old house?

@Nathan Duncan welcome to BP. I'm interested in historic preservation of old buildings too. I love the smaller old mixed-use buildings and would love to rehab a building and/or build new construction in that style. Reach out the next time you're in Tulsa. Would love to grab lunch or a beer.

Thanks, @Joel Owens and @Roy N.

In this case, the email conversation was initiated by the agent 4 or 5 days after I had viewed the property, trying to see if I was still interested. I was never serious about this property but thought I'd respond to the email to see how motivated the seller was... because in every email the agent kept saying in all caps, the seller is HIGHLY MOTIVATED. But it didn't seem like the agent was willing to reveal anything until I put in an offer.

Anyhow, it's good to know when I am ready to get serious that it's not necessary to waste time with LOIs and offers until we've had some informal conversations on the key terms.

@Joel Owens I don't have a deal right now, but I'd be looking at less than 20 units. Was just wondering because I looked at a property and was emailing the seller's agent trying to find out what the seller was willing to do, and the agent just kept asking me to make an offer. I've never purchased a commercial property, so I just wanted to know what was normal so I'm not doing the wrong thing and coming off as a newbie. :)

When negotiating key terms for a commercial multi-family purchase, is it customary to have informal communication back-and-forth before submitting a Letter of Intent? Or is it more normal to do all initial negotiations through LOIs?

This question came to me as I listened to Jeff Greenberg on podcast 115. 

@Tyron McDaniel There are people out there looking for ways to build small multifamily again. I've been doing research too. Check out this lecture from John Anderson:

"The Dark Art of Developing Small Projects"
https://vimeo.com/31441603

I have some of John's pro formas I could send your way if you message me.