All Forum Posts by: Jeffrey Richard
Jeffrey Richard has started 24 posts and replied 37 times.
Post: Buyer showed up unannounced multiple times before buying property
- Posts 39
- Votes 15
I have a nightmare buyer.
He wanted lots of work done before buying. We did it..put 7K in escrow as an earnest deposit.
Then he demanded more things before closing not on contract like evicting tenants he didn't like bc of a boyfriend staying there and having them out before buying..or trying to evict them for things we're not illegally allowed to do like having an emotional support animal he didn't want in there.
He showed up multiple times unannounced the weekend before it was supposed to close. Hanging out inside the house with the workers and tenants. At least 3 times he was there..only once was announced.
We're now 2 weeks out of contract and we tried to negotiate with him...offering an extra 500$ for an eviction if he wants to proceed with one after buying. But he now wants another walk thru before buying another week out..and I'm worried he is just trying to find another loop hole of not buying and us potentially losing the 7K escrow.
Post: ESA animal and no pet policy
- Posts 39
- Votes 15
A tenant brought in a pit bull as a ESA animal and got a letter to do so.
Our rental agreement says no pets allowed.
Are we allowed to evict them or tell them to get rid of the animal?
Post: What is the average broker fee for large multi-family or large retail? 20M +
- Posts 39
- Votes 15
For larger deals, what are the typical broker fees?
Post: Searching for multi family 5.5 cap rate, 5-50m
- Posts 39
- Votes 15
I have an investor searching for 5.5 cap rate on multifamily
5-50m deal size
please contact
Post: How to legally be the middle man?
- Posts 39
- Votes 15
Quote from @Charles Carillo:
Getting paid a finder's fee sometimes gets you in the grey area of not being a licensed real estate agent, and being paid a commission on a property you do not own. What is the value you are providing? Are you an underwriter, are you speaking with property owners who may be interested in selling? Why wouldn't they just work directly with brokers to find their deals?
Billionaires and centimillionaires usually already have a real estate team/company that has underwriters, and asset managers who are finding, reviewing, purchasing, and asset managing their properties (possibly in-house property management as well). When they find a deal, it is underwritten, and then an investment committee makes the final decision.
Pinpointing the value you can provide is really the first step to seeing how you are able to assist them.
Post: How to legally be the middle man?
- Posts 39
- Votes 15
I have a friend who is a billionaire who is looking to buy large multi's and shopping centers in middle America.
I know a few people who may be able to help with that. How can I legally be a middle man in all of this?
Post: How to monetize unlimited funding
- Posts 39
- Votes 15
Our friend comes from an extremely wealthy family and has an investment company. They typically buy shopping centers, outdoor shopping malls and big multi units.
He has expressed interest in helping us out but need to try and make something fit...
We have a large operation in a mid size city where we flip and rent SFH, small multi's ..we also will be opening a management company soon.
We also have a partner who is a builder in the south. He can do anything. Though, they said they don't really do new construction..so..
We're trying to figure out how to monetize this opportunity.