Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Brian Park What would the ideal real estate CRM look like?
15 August 2024 | 5 replies
Some people seemed irritated by how much customization they had do to the CRM to fit into real estate use cases.If there was the perfect real estate CRM, how do you think it would look like?
David Hernandez Rental Purchased! What’s Next?
14 August 2024 | 7 replies
You might want to set up a dedicated email or phone number for tenants to reach you or your property manager.Set up a system for tracking income and expenses related to the property.
Don Konipol My Start in Real Estate
16 August 2024 | 2 replies
To achieve outstanding results, you need to develop PREMIUM business, customers that will pay a premium for your services.
James DuBois Kris Krohn - Is This Mentor Full of it or Legit?
21 August 2024 | 94 replies
Theyre refusing to let me back out and their customer service team is a joke.
Devin James Build your Reputation!
14 August 2024 | 2 replies
Most recent customer review: "Feel like we found a gem when we found Great Leaf.
Chuk Obiazi Seeking Guidance in the space of Development
14 August 2024 | 1 reply
It's great to see your enthusiasm and dedication to learning the ropes of real estate.
Elaine Goepfert PLEASE HELP...being foreclosed on because property is upside down
20 August 2024 | 81 replies
That's the level of data dedication you must hold for accuracy. 
Collin Hays Just got a 1 star due to the ghosts
14 August 2024 | 33 replies
Their customer service is only slightly better than Zoom.
Christopher Hall Newbie Question on Self Storage ($250,000 to invest)
14 August 2024 | 11 replies
If you have a lot of time and a team to dedicate to this, then by all means move forward.
Katrina Dividina Purchasing Newly Renovated 20-door motel to turn into Sober Living thru owner finance
14 August 2024 | 6 replies
And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.