All Forum Posts by: Dwayne Poster

I don't take kindly to non performers, and craft contract language that paves a path to penalty for those that take the process lightly. There is a point where you cant draw blood from stone, but an asset holder has assets that can be acted upon. I put forward a deposit in the offer, of a value that if I had to take action, could be considered an investment in the contract, as opposed to an investment in the property.  The 'down payment' is due on closing, so I'm wondering how you have come to allow the down payment to even be involved.

I personally don't mind when a non performer emerges. It can often be an opportunity to renegotiate deeper discounts. Not so much on the tenant side of things, but on buy and sell, contracts are king.

I shudder when I see ‘as is’ in a tenancy agreement. It’s a condition the judge, if called upon, can roll in either direction. I do, or have done, a tenant walk through, or waive, and document condition. This also serves on the vacate side to deduct damages. Claiming damage becomes a legal challenge with ‘as is’ language. I understand they exist, but not in my portfolio.

The question of termination is dependant on your local tenancy regs, but common language is that the landlord will provide, and the tenant will pay.

court dockets should list filings of action

How, by removing what ever barrier is preventing you from asking them to lay it out for you.

Why would you put a phone number on, so they can call you. An address is so they can visit, if that is what you want? 

I would spend more time with the calculator. How long are you into your current mortgage. Refinancing is going to reset the gains you’ve made on PI ratio, and should be part of your consideration. 

I have done similar for both my children. Would I do it for a 3rd party, it would depend on your down payment and loan amounts, which you've failed to state. Out of curiosity, what rate of return would you think such an investor should seek, considering you want to attract such an investor?

The only way is to find 'off market' properties and negotiate a lower price with the seller. 

Plot the PI ratio over the life of a typical mortgage. Over time, the ratio moves toward higher cash flow. Refinancing resets that ratio back in favor of the lender. 100 doors acquired through refinancing, may not equate to a half doz doors with end of life or no mortgages. 

Just know that time will change the value of those options. The cost of refinancing a mortgage increases as it matures.