All Forum Posts by: Charles Kao

@Drew Lied

Yes

@Lolita Matthews

First American Title

Also if you need financing on the double closings, PM me.

I like lending on those kinds of transactions

@Philip Briskin

If it only makes sense as an AirBNB then I would make sure you are buying it under

market so you can liquidate without a loss. I have gotten two cease and desists and it

comes down to neighbors usually on why you get shutdown and not necessarily your immediate neighbors but people

even a few streets over who don't

want a "hotel" in their neighborhood. One of my most profitable AirBNBs got shutdown and rather than getting on city's bad side and fight it and likely win eventually they would have changed to law to stay it was specifically not allowed. City can say short term rentals is legal but then marketing is a commercial use, they can say if it does not say specifically allowed its not. They will find a way to shut it down if they want. We were told you can't rent to a non relative for any form of compensation then we argued that foreign exchange students are not allowed. I liken it to the bible in that many people can interpret it many ways but problem is the courts always side with the city and their interpretation.

@Anthony Shaw

Thats alot of questions to answer. Get a realtor.

@Victor Wasson

What made you settle on those two areas and where are you from?

@Bob Lett

Hope that deal closes for you Bob! Welcome

@John Kim

If you are going to have an employee I would allow them to do the lease up period. Get then comfortable and also the customers will get to know them. It will be way cheaper and they can give you feedback on what they think being hands on and onsite. A property management company will spend to fill the units and they will do a good job but not as efficient.

@Christopher Smith

There are a couple on bigger pockets file

place. Mine is a little different because in Michigan the contract itself is valuable consideration so I don't have an EMD section. If it says zero then they ask for it. Also I do have it default to both buyer and seller paying regular closing costs but many also say buyer pays.

@Eerika Oxley

I agree with @Saravanan Saravanan. Just go through title.

@T Gibson

Blaine Marney