All Forum Posts by: Thomas Enright

Sounds like your building has an entryway that leads to all of the other doors and you're trying to provide access to amazon drivers into the building? You could swap out whatever the lock is with a pin pad and it could be as simple as a simple 4 digit code that every apartment shares and they can provide the code in the delivery instructions on Amazon. It could also be as complicated as one of the several smart locks that you can manage remotely or maybe even one of the pager systems that calls to the units. The lock with a pin pad will definitely be the most economical option that accomplishes the mission.

What kind of deals are you trying to do? For the vast majority of real estate transactions, you don't need a business entity. 

This is awesome!! Definitely an inspiration to many of us on the same path and all it took was a ton of hard work and dedication. Keep killing it!!

With all due respect, the ball was absolutely dropped on property management. Even a single "routine" inspection at any point during the tenancy probably would have prevented this. You can probably prevent this in the future by managing the manager or inspecting the properties yourself every now and then.

Congrats! It sounds like you didn't need that job anyway and you were perfectly established to weather that hit.

There isn't a lot of incentive for anyone to do a 3% loan. There are so many options for people to passively make 5-7% that I'd be surprised if you find anybody willing to get 3%.

@Randy G. I would stick to normal lending interest rates and not complicate it. Depending on how much the loan to value is, I would stick to offering 6-14% with either interest-only payments throughout the loan or all interest deferred till the end of the loan. 

If you go into offering equity like it sounds like you're considering, things can quickly get weird with laws and ownership and such. Hope this helps!

@Steve Morris Oh wow that's a long time. What was the story behind that one?

@Peter Mckernan Oh I haven't heard of that before. Is it California specific? Anyway, good luck!

Personally, I think you should definitely stay away. All it would take is a little slip in your rehab or holding hosts for that CoC to turn into a 1-2% which is what you could get in a bank.