Over the next 12 months, we will be implementing financial and operational procedures, on-boarding the asset to 4M Capital’s platform, and carrying out capital improvements.Major Deficiencies:-8 down units (demo'd to studs)-High vacancy and delinquency-Poor management-Deferred maintenance  Upgrades / Capital Improvements-Bring down units online-Install new heat and air systems -Install new doors / windows-Add amenity package-Upgrade kitchen / bathroom / appliances -LandscapingDeal Economics Construction BudgetA few cool shots with the drone.. don't let the dreary weather fool you, this is a great property on a fantastic piece of land, just needs a lot of elbow grease and a little TLC.   

If you decide to buy a home that was listed with your agent, it’s possible that your agent – or at least the broker’s company — will end up acting as a “dual agent,” representing both you and the seller in the transaction.Hawaii’s real estate agency rules are covered under:Hawaii Administrative rules §16-99-3.1 Disclosure of Agency.What the Brokerage Firm and its agents CAN do for Sellers and Buyers- Treat the Seller and Buyer honestly- Provide information to Buyer about the property and community- Respond to questions from Buyer about the property- Disclose to Buyer, pursuant to Hawaii law, all material facts about the property known to Brokerage Firm- Disclose to Seller the financial qualifications which have been provided with the permission of Buyer- Explain real estate forms, terms and procedures- Listing Agent at Seller’s direction may continue to market the property and solicit additional offers- Buyer’s Agent at Buyer’s direction may continue to search for and prepare offers on other properties- Assist in arranging property inspections- Explain closing costs and procedures- Assist Buyer in comparing financial alternatives- Provide information about comparable properties so that Buyer and Seller can make an educated decision as to what price to offer or accept- Prepare the Purchase Contract that will include the standard provisions and disclosures for Buyer and Seller- Work diligently to facilitate the sale and advise Seller and Buyer when experts (legal, survey, accounting, architectural, engineering, etc.) should be retained.What the Brokerage Firm and its agents CANNOT do for Sellers and Buyers:- Cannot disclose confidential information that Brokerage Firm or its agents may know about Seller and/or Buyer(e.g., motivation to sell/buy, price/terms, negotiating strategy, etc.), without express written permission of Seller and/or Buyer- Cannot disclose the price Seller will accept, other than the listing price, without express written permission of Seller- Cannot disclose the price Buyer is willing to pay without express written permission of Buyer- Cannot recommend or suggest a price Buyer should offer or pay for the property- Cannot recommend or suggest a price Seller should accept or counter for the property.Another common way that dual agency can arise is if you visit an open house before you’ve signed up an agent to represent you as a buyer, then you express interest in the house, and are told by the agent for the seller that writing up an offer for you will be no problem – and might even save you money!

.), willing to adjust policies and procedures to accommodate needs (alternative ways to pay rent, use of telephone instead of texting, etc), genuine interest in seniors' wisdom and legacy, willing to check in on the safety and well being of residents, willing to assume responsibility for yard work, snow removal, and keeping outside pathways clear of debris, willing to help tenants connect with community services as the need arises (cleaning help, food prep programs, senior services, etc.), service oriented.

In an effort to be proactive, I'm trying to think through scenarios and set some procedures in place.

-As for your gc lien, some will file false liens to apply pressure....these can be quashed with the proper court procedures, which takes time and money of course.

Once you reach a point (as he apparently has) where you have a thorough understanding of the various systems and components used in construction; all the local laws and standard practices pertaining to the rental business; the rental market and seasonal fluctuations; issues regarding hazardous materials utilized in the construction of housing, and in some areas found in the ground around housing; Federal Fair Housing, Fair Credit, Title X, EPA, IRS, and many other regs; contract law; Building codes, code enforcement, and the permitting process; subsidized housing; AND you have a team of reliable, responsible, and reasonably priced vendors to utilize; AND you have established systems and procedures that work for you, THEN, and only then, does PM become "easy".

Also, outlook over the townhome and condo markets remained highest in Colorado.For-sale inventories remain tight in many states but seller traffic was reportedly improving.While real estate professionals remain generally optimistic about housing's outlook for the next six months, the did note a few concerns, however:Tight inventory in most states, especially for move-in ready and "affordable" unitsFinancing issues, such as qualifying for a mortgage still remains tough and the underwriting process is slow, leading to delayed closingsAppraisal valuation concerns and delays due to "questionable" comps, particularly for FHA/VA loans, the use of "out-of-town appraisers" and second appraisal requirementsImpact of the new mortgage procedures (RESPA-TILA) on closingsNegative impact of low oil prices in states with oil/gas productionSlowing demand from international buyers (e.g., Canadians) due to strong U.S. dollarUncertainties associated with flood insurance ratesImpact of upcoming interest rate increase on demand

They still might, but I am still learning this new format.Here is a question that any operator can ask themselves to test their own knowledge:Do I have a written Policy and Procedure Manual for: Red Flag, Safe Guard, and the Disposal Act?

A private money lender or (individual offering hard money loans) may work out of their house on the side and have nothing but their gut and an excel spreadsheet they've built... this is a lot less overhead and they can afford to charge less interest.On the flip side... individual lenders' underwriting of deals can be unpredictable, irrational, and erratic since many times they don't have proven and established guidelines and procedures for lending and evaluating properties... and their available capital can be undependable... both of these can be frustrating to borrowers.Originally posted by @Jeff Rabinowitz:Organizations do not necessarily have more experience than individuals--brand spanking new companies with no experience whatsoever may form at any time.You're absolutely right on this... that's why before using or partnering with an HML you should make sure that they have the experience/expertise that will make it worth your while to borrow from them or partner with them.

A lot of my procedures are based in my experience in other realms, like time sent in the tax and mortgage industry.