
15 August 2024 | 16 replies
I would focus on finding heat treatment in this scenario and not do the traditional treatments.

14 August 2024 | 12 replies
Quote from @Mark Torrefiel: Software is a common question on BiggerPockets.

15 August 2024 | 6 replies
I've yet to have anyone on BP articulate to me how an LLC in one of these states perceived to have greater privacy protections will prevent a plaintiffs attorney from suing the deed holder in the event someone is injured on your property amongst the various other common claims a property owner is subject to.

18 August 2024 | 52 replies
One thing in common with all these guys, UPSELL!

14 August 2024 | 7 replies
For example, the most common punishment for non-compliance is a fine of $500 to $1,500 per unsolicited message.

13 August 2024 | 2 replies
Some lenders may view this as a more complex scenario, especially if you plan to refinance later.

12 August 2024 | 37 replies
In this scenario the buyer effectively pays you, and you then turn around and pay the bank.

15 August 2024 | 57 replies
It's far from unique to the scenario I've described.

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.

14 August 2024 | 1 reply
It is common for many auctions to get called off at the last minute because people will file a court paper to get the auction stopped.