All Forum Posts by: Account Closed
Account Closed has started 88 posts and replied 149 times.
Post: Large Condo Unit into smaller units?
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Originally posted by @David Krulac:
@Account Closed
I've never seen an HOA that would permit the subdivision of a condo into smaller units.
otoh, I have subdivided a building into smaller condo units, but I owned the entire building and drew up new condo docs.
When you mean you owned the building, you build the building not controlling the HOA, right?
Post: Large Condo Unit into smaller units?
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There is an offer of a large unit condos at 6475 sf, and i was wondering if in normal cases that the HOA allow renovation of the large unit into 6 smaller units like 1079 sf. I think it is possible for me to renovate the unit because it is the internal part of the building and not the external. What do you guys think?
I been trying to get a great deal from a bad or run-down looking property, but when i see a nice and sometimes impressive Cap rate it got me thinking why would they sell? Obviously, there maybe higher expenses, or refinance the property but the value is actually lower than their purchase price or burnout landlord or others.
Can anyone tell me what are the other reasons the seller want to sell their "Condos" or "Retails Property" when the Cap rate is impressive or a good that is too good to be true?
Post: Creative Financing in Commercial Space Properties
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Has anyone in BP done any subject2 or seller financing or something i'm not aware off in creative financing in commercial space properties?
Post: Steps in buying a condo units
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Does any one know a good BP articles or step by step or can provide some friendly advice in step by step on investing in condos?
Does anyone in BP actually paid high legal advice fee when it came to what can or not be included in the agreement before actually getting the deals?
I want to try out corporate housing instead of the traditional rental but when it came to finding new tenants, do you think a property management company that i hired know how to find these kind of tenants' niche?
Post: Low or High density for Condos
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When it came to Condos, i'm not all to sure in the density part. Which one do you think have more pros than cons in Condos rental investment?
Post: Asking Property Manager for Contractor?
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Originally posted by @James Wise:
Property management companies handle repairs two ways.
1. They have their own in house repair team.
2. They outsource repairs. They will typically charge a % for setting everything up.
If you are working with a property management company that handles it in house you won't be able to directly hire their own employees. That would be like going to a restaurant and asking the cook to make you a steak in the parking lot for cheaper than the restaurant is charging.
If you are working with a property management company that handles repairs by outsourcing everything you could ask for a referral to other contractors and speak directly with some of those contractors. In this situation I would not expect to get any discounts that the property manager may get from these contractors as you do not have that relationship with them like the property manager does. I would also expect you to only get referrals to contractors that work directly with end customers. Some contractors do not and will not want to take calls from end customers so the referalls you get are going to be to the higher priced contractors that carry heavy overhead.
Huh. I can't believe i actually forgot about the in house team part. Noted
Post: Asking Property Manager for Contractor?
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Originally posted by @Alex Craig:
Ok, it's either my English is not good or some major misunderstanding keep popping out one after another. Heard my idea, i find a PM, told that person i would like to build trust & relationship with him to see if i should let that person manage my future properties. So i ask who is their contractors so i know what advice in repair & replace i should expected. After all i want to know should i trust in this PM & his/her contractors. Yes, i will ask for their track record, system in place, experience and other criteria in looking for a PM company. As for the other investment i had said, it mean that since i know & trust the contractor, i may want to directly call them and ask them to renovate a property for a flip purpose, or something similar. That's all. I failed to see how this misunderstanding happened or what i did wrong here. I simply cannot see it.