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Results (10,000+)
David P. Buying a property with 2 unpermitted units
10 September 2024 | 19 replies
I am fairly confident that just the front unit alone will appraise to the sale price.Main problem I have right now is the legal issues with unpermitted units.
Andrew A. Buy, Refurbish, AirBNB, Sell (in a foreign country)
10 September 2024 | 1 reply
Your situation (different country, Airbnb income, longer hold time) may not fit this model exactly.Negotiating Better Terms:With the bank: Shop around for better rates, consider a larger down payment for better terms.With real estate agents: Offer exclusivity for a lower rate, or consider handling the sale yourself if legal in Georgia.Holding Period: Given the strong Airbnb cash flow, holding longer could be beneficial, especially if the market is appreciating.
Liam D. Buyer going behind my back! HELP
9 September 2024 | 18 replies
If the later is the case, unless your contract with that buyer had specific performance language in it, there is nothing you can do.As to the advice above about potentially clouding title, you are now entering the legal realm and you should NOT be taking legal advice from anyone other than your attorney as clouding title in THIS case can swing back at you from the original sellers for not performing and claiming damages against you.If you intend to wholesale, you need to do it legally and ethically and in many states, that requires either a license, closing on it with your funds or borrowed funds, then marketing for resale once you have title, or having your buyer upfront, forming a legal entity with both you and buyer as owners.
Jeremi Ramos Does Multiple LLC Client = Multiple Management Contracts?
10 September 2024 | 6 replies
I was going to draft up one contract with each LLC as a separate "Owner" with the authorized representative for all, the actual owner, to sign the one contract for all legal entities, but they didn't like this and want to keep all documents separate.I gave them a VERY competitive price quote based on the total portfolio as 1 account with the total number of units.
William Coet Does This Make Sense? Syndication Question
11 September 2024 | 9 replies
Fiduciary responsibility could be in question if a deal closed and the apparent goal is proposed by some legal team that it was mostly done to not lose a large nonrefundable earnest money and/or to get a quick pop of ca$h on an Acquisition Fee.
Zachary Wurtz Documents Needed for Private Lending
10 September 2024 | 6 replies
Respectfully,Zach The best bet is likely to create a new LLC that lays things out in a straightforward but legally strong and standard operating agreement, etc. - LLC doc sets are fairly cheap and easy to create these days (with limited assistance from lawyers) and its much much better to have that cover bases on arrangements like this - it will also fit nicely with financing options - whether you take on debt from a lender in a co-equity situation like your first plan (refinance loan to LLC post rehab?)
Patricia Andriolo-Bull VRBOs new Terms of Service
12 September 2024 | 17 replies
If you act as a consumer and unless any of the legal exceptions apply, you have rights to cancel the Subscription Listing Fees during the cooling off period.
Jennifer Fernéz Buying a property with bad tenants
10 September 2024 | 12 replies
if you are noticing they are late all the time, maybe there is a reason, but at the end of the day if they can't afford the rent, working with them to get time to leave works, but there are minimum notices in each market you'd need to follow, but 60days is a good guideline usually.  
Carmen Assang Nonpayment of rent
11 September 2024 | 10 replies
I know Massachusetts doesn’t like landlords that’s why i am a bit hesitant to take legal action.  
Paolo Patacsil Creating a partnership
10 September 2024 | 1 reply
In either instance, I would certainly have an attorney make sure everything is buttoned up and legal to protect you both.