All Forum Posts by: Steve Morris

Tell the seller to ask each for their caseworker.  Since H/As are different call that person and ask about EFTs (since they do auto-pay) and what they need.

Then tell them about the rent and ask about your options.

Keep the caseworker contact info since if tenant goes squirrley, they can issue the death penalty (ie pull their voucher).

If by big operators you mean syndicators, here's why they're buying

1) They don't place it, investor money is on a rubber-band, it'll move to the next syndicator

2) They don't place it, they lose on future asset and prop mgmt fees

3) They don't place it, they lose the 2% they keep for income and appreciation

4) Tell me the other type of investment that is offering tax-sheltered returns better than CRE

5) Tell me the CRE doing better than apartments

6) Certain places like ATL, NC, MIA , Austin are darlings and only so much inventory so they need to reach

Might want to call the WI REA first ask about 

Licensees shall not obtain, negotiate or attempt to obtain or negotiate any listing contract providing for a stipulated net price to the owner with the excess over the stipulated net price to be received by the firm as commission.

Then you can ask them if it's legal to arrange the sale of real estate without a license in expectation of a fee.

If you're OK, then I'd go download a free one on the Internet with lots of holes to allow you multiple "outs".  Free contracts always work out great I'm sure.

Go to title first and find exactly how title is held.  A quitclaim is transferring a prior interest in the property.

Still doesn't say who has authority to sell the property.

Think it'd be more fruitful to find a lender willing to do >75% LTV.

It'll be expensive though in terms of interest rates.

Think you'd be better off going to a title company.  In OR, we'd do a Bargain & Sale deed. It a deed to transfer title without consideration.

I think the term "special" warranty deed might be disconcerting since that usually means you're limiting the title issues to what happened since you owned it (used by banks in foreclosures.)

I don't know about power, but 1% rule means GRM = 8.3 and 2% rule = GRM of 4.2

Either are kind of hard to find in any market that is appreciating.

I don't think it's weird, thinks its inflation for rich folks.

Rich(er) folks will put their money in stuff like stocks, real estates and collectibles - All of which are going up faster than inflation.

Why would you?  It's difficult and would take 5* as long as a professional.  Then you'll need a dumpster and someone to take it to a places that take const material.

Super easy to call a roofing guy(s) and get a quote and have them do it all.

Umm, how about a broker where the property is?  Tell them that since you found the buyer you want a lower comm fee.