All Forum Posts by: Jonathan Styer

Google is your friend, generally pretty straight forward but I have never created an LLC in Connecticut so your mileage may vary.

@Trace P. Yes, you should always push for the RPD and the seller is legally required to provide. If they do not provide you are free to walk away. 

It takes time for title work to happen and you're right, especially on a cash deal you can kinda get screwed by that (and I don't have a good answer how to avoid that but maybe someone else will). 

You can write up a contract offer on a napkin. It's all about what you and the seller feel comfortable with. A Realtor will not charge you to write up offers, they will expect a commission when the property closes however, and if you're buying off market, that commission may need to be added to the purchase price. The seller pays commission, so its all about what you can negotiate. 

Hundreds of dollars to just write an offer is not sustainable in my book.  

This happens in many markets. Your best bet is to find an investment in another area where it does work. 

Hi @Luke Wahlstrom

If you are planning to live in the property for more than 2 years you don't need to worry about capital gains if you sell within 5. It would be in your best interest to definitely maintain all records of expenses as you can write them off. Hope this helps!

Then it sounds like your option is to find a partner who would like to invest in this property with you who has the funds to do so. 

I would just build at "wall" down the middle of the deck in line the the fence, should be pretty easy. 

@Chandler Calvert

Maybe you can pull out cash from your other properties or use them to secure against this one? Your best bet is to speak with a commercial/portfolio lender who is willing to help you get creative or find someone with deep pockets who is willing to go in with you on this property. 

I would start by speaking with a commercial lender who can help you with this property let them know the details and what it would take on your end. Do you have the cash for a down payment? That will probably be your biggest barrier if the numbers work then they will lend on it. With commercial properties, valuation comes down to income production so if it produces income, banks will lend on it. 

They're going to want you to have some skin in the game so you'll need to bring some cash. If you don't have the cash, then you can form an LLC or partnership with some folks who are willing to provide it.

Good luck!

This is a conversation you need to have with your broker. In Ohio, state law requires that you disclose that you are a licensed agent. Your brokerage, if you use their services may require a percentage of a commission but again that is something you need to discuss with your broker, they can help you.