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25 July 2024 | 11 replies
The reason I ask if it used to ascertain damage to something on the lot (water/sewer/utilities hookups or something) and you don't have pics and mutually signed documentation from the lessor/lessee upon each tenant's move in prior to your ownership, would you be able to justify a charge upon move out?
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25 July 2024 | 7 replies
Also, the prior management had done a poor job and gave us upside in operating expenses and in rental income.How did you find this deal and how did you negotiate it?
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25 July 2024 | 3 replies
Prior, it was in inflation adjusted bonds.
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25 July 2024 | 11 replies
The bathroom is not properly ventilated / does not have an exhaust fan. we ran into this issue and gutted the bathroom after the owner prior let this continue for years.
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25 July 2024 | 10 replies
It raised a couple of questions in my mind about the risks of wholesaling, namely the implications in the event that you assign a contract and the buyer backs out.It seems to me that Paid at Assignment would both:Result in committed assignees, otherwise they would risk losing the money they paid the assignor, andProvide the assignor with a significant cash cushion against breach of contract if they cannot locate another buyer prior to closing, and ultimately decide to cancel the contract with the property owner.But this raises another question.
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23 July 2024 | 3 replies
Should I require them to get a signed lease prior to closing and them assigned that to me?
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25 July 2024 | 14 replies
This gives you recourse if the buyer stops making payments as you can have the courts enforce this performance deed and transfer ownership back to you.Just make sure you have a competent REAL ESTATE attorney review the documents prior to signing them to ensure that everything is properly worded to ensure you are protected.
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25 July 2024 | 18 replies
Note, you may not be able to get all these things prior to an offer.
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23 July 2024 | 4 replies
If you insist on going the path of becoming an agent, I would try to qualify for a loan (or find a creative way to finance) prior to leaving your current position.
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23 July 2024 | 5 replies
As noted in the prior post, not really much you can do about going after an appraisal as its an estimated value at that point in time.