Loren Becker
Assignment using a C.A.R purchase agreement
20 November 2024 | 20 replies
I have a contract drafted up with inspection contingency, and will disclose my option to assign the contract in the original P&S.
Tyler Jahnke
Morris Invest Case Study 2.0
30 December 2024 | 819 replies
@Patrick Shawn Faherty there's certainly enough feedback on this forum that anyone should be able to make an informed decision about MI, When evaluating any turn key companies, there are the things one should look for.In general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)Don't allow for your own independent property inspectionAre not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)Require you to pay for any renovation upfrontSell only in cheap. low end neighborhoodsDon't accurately represent the neighborhood/property classificationDon't have consistent rehab standards for all propertiesDon't provide a scope of work for the propertyCan't provide references of repeat investors Require you to close before a tenant is in place
Michael Whitman
Due diligence checklist
13 November 2024 | 9 replies
If you do go under contract, make sure you have ample DD period and that there are contingencies included so you can get your earnest money back.
Bryce Cover
Analyzing the Impact of Selling vs. Renting My Property
15 November 2024 | 2 replies
Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.
Henry M.
What Constitutes a Lowball Offer and Consequences
15 November 2024 | 8 replies
Well, if the FMV of the house is at or near $300k based on reasonable comps, and there's no legitimate benefit to the client's offer (i.e. all cash, fast closing, no contingency, whatever), I'd probably quit working with them because there's really little to gain working with cheapskates and bums who just want to steal other people's property.
Jonathan Greene
The Top 5 Ways I See New Investors Lose Money On Their First Flip or BRRRR
19 November 2024 | 24 replies
All I can say is I’ve seen it time and time again, accuracy in your estimates, detail in your work, and anticipating future costs/market changes and building contingencies in your budgets may cost you some deals but will save your investments.
Teonia Riley
Terminating House Under Contract
13 November 2024 | 8 replies
You are past your inspection contingency so if you cancel you are not protected.
Arron Paulino
Squatters and Thiefs Keep It Up
11 November 2024 | 29 replies
One of the properties has been in contract probably three times with long waits to close, and then when closing came, the buyers would either have an appraisal contingency fall through, not be familiar with the area, or didn't end up with enough funds to close the deal.
Carlos Ptriawan
Don't become passive investors
1 December 2024 | 91 replies
At entry there is a multi-exit strategy and multi-hold strategy contingent planning well mapped out.
Orlando Kell
What is proper order of rehab work?
11 November 2024 | 36 replies
I typically build in an inspection contingency into my offers (yes this reduces my competitiveness of my offers, but its also a safety net to protect my bottom line).