All Forum Posts by: Vladut Bujoreanu

Quote from @Jay Thomas:

This seller financing deal in an up-and-coming area sounds intriguing, partner. While I can't provide specific financial advice, let's delve into thoughts on the parking situation and potential tenants. Limited parking can pose challenges, affecting the tenant pool and potentially requiring lower rent. Considering the location near a navy base, businesses catering to military personnel like repair shops, cafes, or convenience stores may be viable options. Professional service businesses such as offices for accountants or lawyers, with appointment-based clientele, could also thrive. Additionally, providing space for home-based businesses or shared offices may appeal to those needing occasional in-person meetings. It's essential to explore alternative parking solutions, like leasing nearby spaces or offering valet services. Consider implementing flexible work arrangements for tenants, such as staggered hours or remote work options, to mitigate the impact of limited parking.

Thanks for sharing. It has two levels, so I might just separate both into two shared spots. But then each one would only have one dedicated parking space. I called the city to see if they would be willing to lower the property taxes or do anything to help with the fact that parking is so limited. I have also debated turning this into an airbnb or hotel given the navy base and how many visitors it gets (think foreign military, family visits, etc...). I called the city and because nothing in the immediate area is zoned residential that it would have a very small chance of being converted into a duplex. 

Quote from @Bill B.:

Accountants that bike/scooter/motorcycle to work?

A plumber/electrician/AC shop where customers never come to the shop? (Just park repair trucks there.)

Some kind of delivery only business. 

How bad/far away is the street parking?

 Unfortunately there is literally no street parking in the area and the vacant land next door and corner store are not willing to lease or sell parking spots. 

The property is right on the main road entrance to the base. 

Hey Everyone,

I’m working a creative deal right now where the seller is willing to finance part of the deal at generous terms. In an up and coming part of town. Located right in front of a large navy base. Only issue I’m having is there are only 2 parking spots out front.

i’m looking to pick other commercial investors minds. What first comes to mind in this situation? What kinds of tenants would be best for this kind of building with such low parking?

 I can deposit over the phone too but this doesn't work when I am out travelling. I'd have to get back home to cash them in on my app. @Account Closed

My bank is capital one and they the checks to be signed by me before they will deposit them which defeats the whole purpose.@Wayne Brooks@Wayne Brooks

Hello Everyone,

Curious to know how you would handle this. I've been managing my own portfolio for quite a bit and am very familiar with situations where tenants are having issues with a/c, plumbing, appliances, etc. because I do majority of the work myself. 

And quite frankly most of the time I get a service call from a tenant I find it to be things they were not aware of, things that never actually needed fixing, turning the problem on/off by a switch, etc.. AKA very easy/simple things that require no actual part replacements or major work.

My fear is that when I hand my portfolio over to a PM I will be getting a lot of high price maintenance expenses for service calls which might raise my expenses dramatically.

Should I just expect this? Are there things you include contractually so that you don't end up paying high maintenance fees for ridiculously easy/no work done maintenance? Please share your thoughts and ideas regarding this. 

Hello Everyone,

Need some help. I have a quadplex where the tenants are government sponsored and I receive checks from their respective programs. These programs do not have direct deposits, I do not have or really need PM for this property and just need to find a way to cash the checks without doing it myself physically since I am almost always out of town.

Any ideas? Looking for creative solutions! Also, tenants never get a hold of the checks. They go from their government payee program directly to me. 

Sent you a PM @Brian Thacker!

Very good points to bring up @Albert Bui

@Albert Bui@Albert Bui@Albert Bui@Albert Bui@Albert Bui

Question to this @Albert Bui

Under COB exclusion to bypass the 50% LTV restriction:
- you have paid the mortgage for atleast 12 months

What if you do a subject to and backpay 23 months of a loan that is currently in a loss mitigation status. Would doing that allow you to bypass the 50% refinance restriction? 

Agreed Joe! I absolutely love my own spreadsheet, it truly is magic. Perhaps you could help with this, have you been able to create functions or macro's on your sheet that can pull information from the internet and autopopulate the sheet?