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27 January 2025 | 8 replies
I have pulled a permit for removing a fireplace, but probably would not have but I had a significant remodel going with permits and did not want hassle of him making an issue of removing the fireplace (the inspection for fireplace removal consisted of only verifying gas cap was in visible location, he did not even spray it).
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10 February 2025 | 59 replies
I am currently waiting on a rather large legal settlement to hopefully hurry up and get him his $16,000 or if we can find someone to go ahead and pay him off early (no prepayment penalty), which would be hopefully paid off sooner than later as well in exchange for a secured lien on the property plus repayment of the $16,000 plus interest short term.
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16 February 2025 | 71 replies
There is a major franchise that puts these together, writes their own lease (sale-leaseback deal) and surprise - Gives themselves rent holidays in later years in the lease.4) Realize there the return they give you is NOT guaranteed, so better history of the syndicator better the odds you'll get it.5) If you have the money, try to diversify and spread it around by prop type and location (ie make 10 buys of $100K vs. one buy of $1M)6) It's commercial RE - You CANNOT turn around and sell it if you need the money now.
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27 January 2025 | 13 replies
However, if I don’t secure an eviction order within the next two months, I’ll send him your message.
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18 January 2025 | 6 replies
Consider using an FHA loan to secure a 1–4 unit property with just 3.5% down and take advantage of tax benefits by living there for at least two years.
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21 January 2025 | 1 reply
I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?
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17 January 2025 | 3 replies
The area has certain advantages like shelter from regulation risk (pretty much as low as anywhere in the country if you buy in the approved STR tourist zones) and long term security (people aren't going to stop going to Orlando anytime soon).
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16 January 2025 | 0 replies
Loan Security: The property will serve as collateral for the seller-financed loan.
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27 January 2025 | 27 replies
I see a lot of opportunities in the C locations on the Westside of Cleveland.