Comments on: How to Handle a Landlord with Multiple Properties for Sale http://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/ Learn, Network, Invest Sun, 12 Feb 2012 02:59:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dennishttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-101242 Dennis Mon, 16 Jan 2012 01:28:25 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-101242 Great article, I just happen to be on the other side of this conversation, as a landlord with three properties totally 9 units now on the market. "Tired" is a subjective word I am not tired, may landlords my age who are selling are not tired so to speak. We are more interested in trying something new with our equity by trying something we perceive as an easier to invest. I look at the sale as retirement from landlording, in my case it is only partial as I have a few single houses I am going to hold onto.One bit of advice for those seeking a subject 2 deal with a seasoned landlord. You better have a track record of success behind you, I don't think there are many landlords selling cash cows who would allow a newbie to wreck their credit rating, or destroy their collateral. Great article, I just happen to be on the other side of this conversation, as a landlord with three properties totally 9 units now on the market. “Tired” is a subjective word I am not tired, may landlords my age who are selling are not tired so to speak. We are more interested in trying something new with our equity by trying something we perceive as an easier to invest.
I look at the sale as retirement from landlording, in my case it is only partial as I have a few single houses I am going to hold onto.

One bit of advice for those seeking a subject 2 deal with a seasoned landlord. You better have a track record of success behind you, I don’t think there are many landlords selling cash cows who would allow a newbie to wreck their credit rating, or destroy their collateral.

]]> By: Dennishttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-101241 Dennis Mon, 16 Jan 2012 01:01:24 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-101241 "Subject to" or "Sub 2" mean to transfer the properties deed to an new owner, and keeping the financing in the original owners or LLC's name. A nice strategy for acquiring REI with out the hassles or costs of dealing with a new loan.I have a friend a transplanted American living near Halifax, Nova Scotia he told me the banking regulations in Canada are much more conservative then in the USA. This is why you folks didn't see your banking system go up in flames. I think you up in the Great White North have a better handle on how banking should be done. “Subject to” or “Sub 2″ mean to transfer the properties deed to an new owner, and keeping the financing in the original owners or LLC’s name. A nice strategy for acquiring REI with out the hassles or costs of dealing with a new loan.

I have a friend a transplanted American living near Halifax, Nova Scotia he told me the banking regulations in Canada are much more conservative then in the USA. This is why you folks didn’t see your banking system go up in flames. I think you up in the Great White North have a better handle on how banking should be done.

]]> By: Deborahhttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-78598 Deborah Wed, 10 Feb 2010 10:44:35 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-78598 Thanks for that article. I'll be giving more thought to working with tired LL's. Thanks for that article. I’ll be giving more thought to working with tired LL’s.

]]> By: Shae Byneshttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-78571 Shae Bynes Tue, 09 Feb 2010 21:44:47 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-78571 Great post, Jason! I've never purchased currently occupied properties so just a quick question for you....how much did you want to know about the current tenants? Do you only care if they are paying on time (and when the lease is up)? Is there other info you want to know to help you make a decision? I suspect if there were some lousy tenants (but not lousy enough for eviction), you could always try to buy the person out of the lease. .-= Shae Bynes´s last blog ..<a href="http://www.goodfaithinvesting.com/2010/02/08/refuse-to-lose/" rel="nofollow">Refuse to Lose</a> =-. Great post, Jason! I’ve never purchased currently occupied properties so just a quick question for you….how much did you want to know about the current tenants? Do you only care if they are paying on time (and when the lease is up)? Is there other info you want to know to help you make a decision? I suspect if there were some lousy tenants (but not lousy enough for eviction), you could always try to buy the person out of the lease.
.-= Shae Bynes´s last blog ..Refuse to Lose =-.

]]> By: Peter Giardinihttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-78561 Peter Giardini Tue, 09 Feb 2010 17:23:39 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-78561 Jason... great post. I am in the middle of negotiations with a very tired landlord and there is a deal to be had in these discussions.Your points regarding looking at each deal on it's own merit and making your money going in are important points for any investor... new or experienced. Jason… great post. I am in the middle of negotiations with a very tired landlord and there is a deal to be had in these discussions.

Your points regarding looking at each deal on it’s own merit and making your money going in are important points for any investor… new or experienced.

]]> By: Nick@Subject2.comhttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-78452 Nick@Subject2.com Mon, 08 Feb 2010 02:24:17 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-78452 I love posts about Sub2's!!I think landlords are the easiest to get Sub2 deals out of personally. Great job, especially if you're getting $900 a month cashflow I love posts about Sub2′s!!

I think landlords are the easiest to get Sub2 deals out of personally. Great job, especially if you’re getting $900 a month cashflow

]]> By: Neil Uttamsinghhttp://www.biggerpockets.com/renewsblog/2010/02/07/how-to-handle-a-landlord-with-multiple-properties-for-sale/#comment-78449 Neil Uttamsingh Mon, 08 Feb 2010 02:03:40 +0000 http://www.biggerpockets.com/renewsblog/?p=10822#comment-78449 Hi Jason,What is your overall strategy with these properties once you own them? Do you hold them long term and keep them rented, or do you sell them shortly thereafter?Also, another questions, that a lot of you may get a kick out of reading is this...Since I am a Canadian Real Estate Investor, I have no idea what a 'subject 2' is. We don't have that in Canada. :)What is it?Onwards and Upwards, Neil Uttamsingh. .-= Neil Uttamsingh´s last blog ..<a href="http://feedproxy.google.com/~r/FirstRentalProperty/~3/3zZJ1XyTsio/" rel="nofollow">How to buy your first rental property – Step Three</a> =-. Hi Jason,

What is your overall strategy with these properties once you own them?
Do you hold them long term and keep them rented, or do you sell them shortly thereafter?

Also, another questions, that a lot of you may get a kick out of reading is this…

Since I am a Canadian Real Estate Investor, I have no idea what a ‘subject 2′ is. We don’t have that in Canada. :)

What is it?

Onwards and Upwards,
Neil Uttamsingh.
.-= Neil Uttamsingh´s last blog ..How to buy your first rental property – Step Three =-.

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