All Forum Posts by: Adam Schneider

@Victor Yang

Why are you not reaching out to a NC real estate attorney to draw up a document that spells out the agreement that you are looking to do with the tenant?

@Scott Johnson. Thank you for keeping everyone updated, Scott.

I'm looking forward to the meeting this coming Thursday. First time attendee. 

I have a property available in Garner, and either one or two properties available in Durham, that I'm selling with seller financing (contract for deed on these). If anyone is interested in details ahead of time, you can contact me at [email protected]. 

@Allison Park. 

My pleasure, Allison.

@Allison Park

Two pro tips to share.

1. I'd offer to pay more in commission than what you think is the "going rate" (not your exact words but what you are wondering) on my first deal or two with agents so that they are enticed to work with you.

2. I'd think about creating a very specific buy box and show why agents would be interested in working with you. Saying that you are looking for a good investment property would not be helpful for an agent. Being specific about geography, price points, willingness to take as is properties, speed of decision making and closing, whether you are a cash buyer or not, property specs....that will go a long way in your brand as a good match for an agent.

@Sunny Wu

Perhaps offer them an incentive to also help in finding a replacement tenant. They likely know people in the area, and then they might feel that you are trying all avenues to find the next tenant. I'd likely just agree to break the lease with a couple months of rent as a penalty rather than force these people to continue being tenants in my property....you never know what will happen to the condition of the property.

@Benjamin Carver

That was an OUTSTANDING post. Thank you for sharing. Do you know what Raleigh's position would be on the placement of a MH (taking away the wheels)?

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@Alex Thomsen

The standard NC contract (2-T) has two different deposit options. The Earnest Money Deposit (EMD) is refundable during the Due Diligence (inspection) period, and goes hard at the expiration of the DD period. That's held in escrow, usually by an attorney. The Due Diligence deposit is non-refundable and goes straight to the seller. You referenced Earnest Money and then referenced that it's non-refundable. So, I'm wondering if it's the 2-T that you are using or a different contract. Just a heads up for future reference. This deal that you mentioned sounds at first blush that it's dead in the water because of the large deposit.

The next one will be January 13, 2025. 6:30 pm check in, 7 pm start.