Nick Runs
Legal implications for Sqftage discrepancy
Hello, has anyone ever heard of legal implications for sqftage being misrepresented (>20% off) in contract or post sale? Or Errors & Omission claims kicking in post sale OR as a way to get earnest money back? A...
George Edwards
How do you comp new construction? Any tips?
I’m leaning towards using new construction comps that are in the same exact subdivision as the subject property. Also, the listing agent of the builder in the community says the appraiser will use the comps in the sam...
William Klawitter
Determining whether a sold comp was a 'cash sale' or not
Hi all,Often when trying to come up with ARV (retail value) on a property, I come across sold comps that look suspiciously low- & I'd like a way to determine whether or not they were cash sales. Is there a more p...
Karen Schimpf
Quick way lenders calculate NOI on a Comm'l Investment
Here is Quick way to determine Net Operating Income on a Commercial Investment Property. Gross rents x .88 (expenses and vacancy rate) = NOI
Mary Jay
Business coverage -land trust
Hi guys,I have a question for you: I have an insurance on my fourplex in Pennsylvania, and it is a business (commercial) coverage, I think its 1 mln in liability (I am not super smart when it comes to insurance langua...
Amaziah Y.
Where do you find NPL financing for 2nd Mortages?
I am looking for somebody, or someone who knows somebody that finances NPL’s that are 2nds. I am creating a strategy to take these down and get them perform or foreclose at a low cost. I am currently looking at non pe...
Hira Bakhsh
Probate Sale Process
Hi,I am wanting to invest in a probate sale with hard money lending option.Please share your experience and things to look out for in such sales. Also, any insight on closing process will be extremely helpful.Regards,
Michael DuVentre
IM A NEWBIE!!! Has anyone ever used an " letter of intent" when trying to put a property under contract?!??
I was reading where some investors use a letter of intent before putting a house under contract.
Does it help?!?! What are the pros and cons of using a "letter of intent" and is it even necessary or a waste o...
Bobby Masih
wholesaling property with backtaxes
have a property where seller wants 15k but owes 10k in backtaxes... instead of writing the option agreement for 25k (house is worth probably 20-25k), i offered him his full 15k to be conveyed as quit claim deed in hop...
Nate T.
insurance question in an Agreement For Sale (Land Contract)
This might be a bit of an arcane question, but what better place than BP? :)I had a fire recently at a house that was sold through an Agreement For Sale (aka land contract, contract for deed, contract for conveyance)....