I have a unique situation wherein the property is owned by 5 siblings and they all agreed they want the oldest sibling to sign everything on their behalf, so they want to complete a power of attorney form to give him the right to sign.

My opinion....HUGE mistake.No doubt it can be done this way, but to have this situation be your FIRST real estate investment property is a HUGE risk.

Hey everyone,I have a lead that is looking to sell their home for $126K. They told me that they have $123K mortgage on the home and know they won't make money on it. I presented a cash offer and 'subject to' and expla...

Fill out CA Form 593-C, and mark box 10 or 11 (depending on your situation).

Geez man I hate to come down on you cuz you are in a situation , but you don’t even understand the most basic components of using the brrrr strategy .

In Portlandia were are see price concession and or free rent etc on some of the new build real high end 2500 dollar elevator buildings on the east side.. this is happening now.form what a friend of mine who owns a management company with 6k plus doors was telling me at lunch.a few buildings are stressed right now.take this scenario.. you buy the land 3 to 5 years ago it takes at LEAST 2 years to get through permitting then another year to build.. cost of building in this time has gone up 10% or more.. land is static .. and your proforma show this ever increasing rent.. you now come on market and your 4 story elevator building now cost you 400 a foot to build.so your in a new apartment 400k.. you need 2,500 a month just to hit your investor grade 4 to 5 cap.. and now rents start to pull back as they are or lease up is very slow at those values.. so you have full amount of debt on the building and of course everyone these days has max debt.. so debt service and DCR ratios start to go out of wac  you have annual reporting and loan covenants .. you no longer meet your covenants and you have a cash call to your lender  along with negative cash flow.. this is what I mean by some are stressed..

I'm a big fan of using credit as a option for reserves to augment cash on hand.... if the situation makes sense.

You mentioned a Patch of Land debacle...what transpired in that situation?

I’ve never dealt with this situation but I agree to step it up and involve a lawyer immediately Hopefully can recoup your money faster and move on

Then when sitting in front of a seller, you'll feel more confident, and can at least propose a solution that actually fits the situation.