All Forum Posts by: Chris Davidson

@Mike Schorah with a wrap. Sell it on terms that cost the buyer more than the terms you have, and get a higher down payment than you put down.

How would that get around it. It still was sold and transferred. Even if you gave it back the sale triggered it. There isn't a oppise didn't mean to do that option. Like @Jay Hinrichs mentioned there are taxes involved as well. 

Don't worry about a way around it learn how to work with/ deal with it. Going against the current is a lot harder than going with the flow. 

Best of luck!

 What is the cost if you do something wrong and the tenant stays in, sues for damages, etc... If you truly can't afford it you better invest hard into learning the law and process. 

Best of luck!

@James Sun it all depends on the service and location. By the numbers you gave they are pretty close in the grand scheme of things how has the service/ turns been in comparison?

@Alex Garcia-Mendoza coming from a tenants view subleasing makes sense they get out with less of a financial burden, and they shift it to a new tenant and landlord. There are more issues with subleasing then a standard turn. In a turn it is vacant and a clean start where subleasing can cause issues with security deposits. 

Having a tenant pick your tenants isn't ideal. It may work out great or it may not either way the landlord has their system while a tenant doesn't.

What is your focus on this? My guess is it could be very area specific.

@Eiann Sha sounds like fraud and stretching to make a deal work. Reframe it to is this deal worth giving the seller what they are looking for and me taking on a assuming an obligation that may be considered fraud. 

Sounds like the win for the seller, and a short term win for you if everything goes as planned. Or a massive headache if things don't go perfect for you. 

@Bret Ostendorf shouldn't be any tax implications as far as refi's go. This will really come down to the numbers. You are just moving debt around, and closing cost will add up and dictate how long it will take before it makes sense. Dropping a point likely will make sense the 15 arm might be a bit closer on if it makes sense or not. 

Hit up your lender and see what kind of numbers they can get you on current rates, and if it makes sense.

Best of luck!

 A mixed approach sounds best to me and feel that the numbers will really come down to what will actually work in your market (only works when the seller agrees). I would look at it as is the cost of the capital cheaper than if you were to get a smaller loan and borrow elsewhere for the investing. You can refi the primary later and maybe rates will be better and not worse. One thing not mentioned is if you went 0% down with no value add option on the primary if the market swings the wrong way you could be underwater and not able to refi for a longer period. 

Best of luck!

@Hannah Rodriguez congrats on taking the step and getting your first STR going. I would recommend really understanding how a transaction works first. Learn the basics of Lien's, Title, Escrow, and Contracts. Creative finance by nature has creativity. If you don't know what you are trying to create or do it will make it really difficult to understand and apply.

In short seller finance and sub to deals are addressing the financing part of the deal. Title will still go the same as on your prior transactions. Escrow could be moved to long term after closing or not all will depend how the deal was structured.

Best of luck! 

@Elizabeth Park could you hire an employee to do maintenance and manage the landscaping? This would likely push up the cost but lower other cost/ create improvement elsewhere.