All Forum Posts by: Anthony Peric

First off, find a local hard money investor. Get your item needed to them for pre-qual so you have a setup relationship. Make sure that they do the type of investment you want. Fix/Flip, ARV, etc. Then go find the property within their parameters.

@Kyle Marek listen to @Chris Vail. We both live in the area. The property is a decent price yes.  It is directly across the street from an industrial area. Also, this is a high crime ridden area as well. Several murders have occurred just north of this area. You should go visit the area and see for yourself. Don't rely on stats and vacancy rates. The area also doesn't have a major grocery store close by. I have sold 3 homes close to the area in the last year. So I have a good idea of that part of Arden and Del Paso Heights.

If you need some insight, feel free to shoot me a PM.

Give my broker/attorney a call. He deals with this all the time.

http://www.malooflaw.com/

Nick Maloof 

I missed this one. Please let me know the next time you have a meetup in the area. I would love to attend.

Thank you for all the replies. Lot's to think about and discuss with my investor. 

All of your advice is greatly appreciated. Again thank you!

I am looking (if anyone has one) for a lease addendum for work performed in exchange reduced rent.

The situation is a guy my investor uses for work, just got notified he will have to move out immediately. We have a property which is need of work and is sitting empty, so we decided to rent to him at a reduced rate in exchange for partial labor in trade for rent. The period of rent is only for 6 months, which puts us back into the better time of year to sell the property. 

The property has been broken into a few times but luckily no major damage. Just some squatters looking for a place to stay. So we figured let's kill two birds with one stone. Get it lived in and some income, while getting it fixed at the same time. Also, this helps a really good guy and his wife out who happen to be in a terrible situation.

If anyone has something similar they have written up, please PM me or post that portion of the addendum here. Any and all help is greatly appreciated.

Thank you in advance.

Regards

Tony

@Sharad M.

 Was your BP partner local or out of state? Very nice job on the property!

One of the best payment systems I have recommended over and over is Dwolla. A few landlords I have told about it love and only accept payments this way now.

Only .25 cents per transaction over $10. Money hits the account within 2-3 days (usually less).

https://www.dwolla.com/about

I'd ask to review his tax returns and you'll probably see the actual expenses, etc. If the seller won't show them, then you know it's a sour deal for you.

@David Wiser

Is your DTI too high?