All Forum Posts by: Tyler Luraas

He keeps promising tomorrow, soon, next week and then they never send anything. I have a real estate agent that has been down to the office personally and requested managements contact information. We leave voicemails for management, sales, and the construction manager that all go unanswered. They sent an email saying on the 21st I have pre inspection walk through before closing on the 9th. I asked if we could reschedule the walkthrough considering I have not had a response on my inspection and they said sorry you can’t reschedule you must appear in person. It’s a $700,000 transaction so I feel slighted and uneasy about moving forward. I realize someone else will come along and purchase these units because they covered up what I saw in my inspection. The sales manager just gives me the run around and says his hands are tied. I’m really not sure what to do. 

My wife and I are under contract for two town homes in Florida. We were offered 5.9% financing through Lennar for an investment loan. I decided to get an inspection on both properties pre drywall and my inspector found several issues from warped roof trusses, all steps un-level, damaged metal wall framing, un-level flooring and un-level concrete flooring. I told Lennar I want these issues rectified before drywall is hung so I can see they have been taken care of. 24 hours later I sent the I inspection report to the construction manager and sales team. They replied saying that the drywall has been hung and pre inspection before closing is in 3 weeks. I told them I wanted proof they have fixed these issues but will not provide any paperwork or sign any documents stating so. I told the sales manager my frustration and he said he would give me my deposit back. Would you back out of this deal? Or would you continue moving forward with this deal? I feel as though Lennar believes they can sell these units regardless if I back out and they don’t care what my inspection reports found. How would you handle this? 

Thanks 

My wife and I have just purchased 3 town homes. We have heard others say we need to put them in a LLC. We are wanting to put all the properties in a trust eventually. Should I hire a real estate attorney to guide me through this process? I am unsure of the next steps to take. Any help would be appreciated. Thanks

Opinions on financing vs paying cash ? ✅

I have always been in the mindset of leveraging the banks money to buy rentals but with interest rates increasing & difficulty finding cash flowing properties I have thought about doing an all cash buy strategy. Using all cash I am not able to leverage as I would like but it reduces the risk in this market & prints cash without a mortgage/interest.

Hypothetical options

Option 1 - Buy a multi family “ 8 plex “ , in cash and use those profits to fund more cash deals. Slowly build a small real estate portfolio throughout the next ten years.

Option 2 - Buy a 16 unit building with 50% down to reduce the mortgage payment and make the building cash flow more, reducing risk. Overtime pay the building off and use profits to eventually buy another building

Option 3 - buy 10 to 16 unit multi family and BRRR the building using cash, increase rents, remove equity and finance another multi family eventually.

I am curious what other investors would do if you were to have cash to buy a large multi family in cash. I like the strategy of paying cash in this economy and waiting to see where interest rates are headed. If they fall again I have no problem leveraging and financing properties again but figured in this economy paying cash might be a good thing. What are your thoughts and ideas? Appreciate your time & advice.