All Forum Posts by: Curtis N.

Yep this recently hit me here in the DC area. All of my ads are toast! And that's even on my paid Jobs postings. So I don't know if it's even that they want to charge, because why disable it in areas (jobs) where you already pay to post?

bump because that's awesome!

@Anson Young Sounds good! I can contact you on BP or via email, etc. I'll be in Aurora - where does the meetup take place and if I can't make that, where would be another good place to meet up?

I'll be out in Denver for business Nov 18-22 and might stop in for the Monday night meetup if I can get done with work in time. Not from the Denver area but it would still be cool to meet some BPers! If anyone else wants to meetup for coffee or drinks any other time that week, let me know!

@Roger Lin @John Rubino

Crap! I would be there but I have a Caps game that night. I'll definitely keep my eyes on this thread for any updates, though.

Wholesale the deal and use the cash to go buy an easier flip for your first one!

Will close on a property end of the month and will be allowing the seller to rent-back for 60 days at my PITI. We have the standard post-settlement occupancy agreement in our ratified contract. Here are my questions. I'm assuming upon walkthough I should treat it like a normal rental walkthough and document everything with pictures and have them sign off on condition? Do we need to have them sign an actual lease? I asked my agent about this and he said he's never seen it done. He said normally the PSOA is enough. The PSOA does not provide a daily rate if they stay past 60 days as I didn't even want to present that as an option. But I'm wondering if I should name one and make it more than the standard 2x rent to really show them I mean business. Like 10x rent. But they may not sign off on that. Not sure what to do here. The PSOA states "Seller will deliver the Property, including existing appliances, heating, cooling, plumbing, electrical systems and equipment, smoke and heat detectors, and landscaping and lawn, in substantially the same physical condition as on the Settlement Date and broom clean with all trash and debris removed." So that appears to me like I am not responsible for those items while they're living there like I would be for a normal rental property. Is that correct? We are escrowing all rent plus 1 month rent for security deposit at closing. The sellers have lived there for 10 years and have taken immaculate care of it so we're not really concerned about anything but I just want to make sure we know what's going on. I normally wouldn't opt to do a rent back but they needed it and in return they made a significant price drop. Thanks in advance!

Welcome Cuong Huynh! BP is awesome, be glad you found it right away.

I love downtown Frederick. I live outside DC in Northern VA but I drive through Frederick all the time to visit family in central PA. It's a great area.

There are lots of members from the DC Metro area on BP. I would definitely take the advice above and find your local REIA and start networking with people. One of the most valuable things at the REIA is when people have a chance to over the group their deals. You can easily find the property you're looking for right there!

Good luck!

Taylor Jennings - to put it into simple terms, I think you're too nice of a guy! I wouldn't offer to pay his half of the training unless you were planning on paying for the course anyways. In that case, you just saved 50% to have access to the materials.

I think you're on the right track about how to join forces with him. I think this type of setup is what most people should do instead of jumping into partnerships. Some people don't have a choice because their business requires large amounts of capital so they need someone with money, etc. In your case, I think you can get by without having to give away the keys to the house. Again, just personal opinion here!

Originally posted by Geoffrey Ravenhill:

Geoffrey Ravenhill - Thanks Brian, that make's it easy. In terms of assessing it higher closer to fair-market value, I had the property assessed and it came in below tax valuation...can I use that to appeal their assessment if they take option B and assess it close to fair-market value? Thanks so much.

Yes you should be able to appeal their valuation. Some people when buying houses think, "Hey! I'm getting such a good deal on this property! It's 100k below the tax assessment!". Really, all that means is you're probably paying way too much in taxes. The only way to change this is appeal. I wouldn't count on them automatically adjusting it based on your sale.