All Forum Posts by: Chris Davidson

@Ray Allen Thanks for the reply, I was guessing would need a lawyer just wondering what the recording process if any would be. 

@Brandon Sturgill thanks I had not heard of that one before and sounds really neat. Always down to learn some history

@Antoine Martel I will have to check out the What the rich teach their kids about money one. I have read the rich kid smart kid one while the kiddo is growing up. And I really like the Long Distance Real estate investing book by David Greene, I thought it did a great job at explaining systems for rentals, and though at the time I read it didn't do out-of-state investing it allowed me to really see some holes in my business.

I want to know what book or books that aren't commonly talked about helped change how you view investing, or real estate. I started reading the Rich Dad series before I got started, but when I read What Every Real Estate Investor Needs to Know about Cash Flow... And 36 other Key Financial Measures it helped me see there wasn't some secret formula or hard calculations going on to get the deals it was just math and helped remove emotion from the investing side. There have been many more that have helped me narrow my focus and ones that have also helped me open my eyes and see more possibilities. 

Interested to hear what book(s) helped change your views.

@John Townsend the SMF market has been heating up in a lot of markets as investors look to start out. If you are looking to invest in your home town here are some stats on the rental rates too. While they aren't as great as the appreciation 16% is no joke National-rental data. Here is a link with the info. If you want to talk more about the valley and investments shoot me a pm.

Quick back story I have a couple of units in TN in a building with an HOA that is going to have a larger assessment for some work to be completed. One of the other owners is looking to sell next year and I have talked to them about buying their unit. I wanted to present them with an Option contract to purchase their property for an agreed price with the option premium being the assessment amount.

However, have not done this before and looking for advice on how to do this properly. Final details the purchase will not be financed and will be purchased through an LLC.

Thanks in advance.

@Reden Dionisio For the furniture check out a local Goodwill or local classifieds for used furniture. I would Furnish it otherwise will create problems. For utilities that will be on what your market demands. Some you need to cover them others you can have them split.

@Changseok Kim search for a CPA that is also an EA (enrolled agent). This will help them be more diverse in both business and taxation. If you have a plan or goal you are trying to reach let them know the more specific you are the more guidance they can give. 

Quick back story have a couple of units in TN in a building with an HOA that is going to have a larger assessment for some work to be completed. One of the other owners is looking to sell next year and have talked to them about buying their unit. I wanted to present them with an Option contract to purchase their property for an agreed price with the option premium being the assessment amount.

However, have not done this before and looking for advice on how to do this properly. Final details the purchase will not be financed, and will be purchased through an LLC.

Thanks in advance.

@Daren Weintraub hopefully that will be the only problem. Chalk it up to lessons learned and hopefully, it doesn't ruin the year, but sadly looks like they are following the lease to the T and that is what it says. Good luck getting rid of them at the end of the lease.