All Forum Posts by: Charles Carillo

@Patrick Flanagan

In my experiences, it is better to build a relationship with the seller before suggesting seller financing. I have people contact us and want everything; buy at a 10 cap, seller financing and of course 0% down. You can imagine how many we speak to after that call/email/text. There are tons of people direct mailing owners and using the same strategies but the buyers who will put the time in and build a relationship will get the deal when the owner is ready to sell...that could be years down the road.

@Daniel Sabato

COVID gave us a glimpse into the true landlord friendliness of every state. Check when the state you are reviewing lifted their eviction ban and that will give you an accurate picture of how friendly they actually are. 

@Maurice Graham

Becoming an agent is a great first step but I would not accept money from any investors until I had successfully completed at least 1 deal. 

@Chinmay Raval

Typically with larger 8 figure properties they are sold through commercial brokers. I doubt you will have contact with the firm that actually owns the property. DM me, I can send you some resources for investing in larger properties.

@Quincy Baker

I personally would offer to pay for an estimate if you have not purchased the property yet; if you have purchased it, you 100% need the work done but if you are just deciding what to offer on a property, I would offer to pay since the next time you call, they may not come out since all good contractors are busy these days. Once you have done a couple deals with them; it is a different story but think of how many new investors they get calls from to estimate properties that are never purchased.

@Simeon Copeland

Our niche is working with foreign investors and expats. I fell into this niche from running another business for years that took me abroad for months at a time while still investing in US real estate. 

@Gbatoh Browne

Is the rental in a landlord friendly state? Why would they have not been approved by your tenant screening? If they are paying; I might keep them but if you are in a tenant friendly state and if they stop paying, it will be near impossible to evict them; I might not renew. Either way, you should not renew them or have them sign your 12 month lease. I would not keep them month to month on the previous landlord's lease.

@Andrew Clark

I would be concerned with what happens when the roommates move out. The problem with house hacking a single family property is that you need to live with the renters. When I house hacked a 3 family out of college it was easy to find a roommate for my unit and find friends for the other units but year after year, people move out and I ended up not renting the bedroom in my unit anymore BUT the other units could be rented to strangers easily without any inconvenience on my part or sharing of common apartment areas. Just something to think about.

@Sead Osmani

It really depends on the condition of the exact property. I have been in 1930s properties that are in better condition than 1980s properties. What is the condition and type of plumbing and electrical? What is the condition of the merchanicals? What about the roof? These are the major things to look at.

You are planning on paying $50k over appraisal? You are going into your pocket for this $50k since the bank will not lend over the appraisal? It seems like you might be overpaying; paying the seller for appreciation that has not occurred yet.

@Linda Thomas

This is a really touchy topic but I feel it really depends on where you are located in the US. In Florida, our techs are wearing masks when inside a unit but we are not requiring tenants to.