All Forum Posts by: Jose Enage

Hey Marshall,

Here's a BP thread that might answer your question:

http://www.biggerpockets.com/forums/12/topics/10589-buying-rental-property-with-existing-tenants

@Jane Hyun Hi & Welome to BP! Not everyone has to luxury to go full-time in REI, so kudos to you. Keep me in mind if you come across duplex, triplex or quadplex.

Cheers!

I understand that it is always a good idea to register your purchase and sale agreement at the county for purposes of avoiding someone from circumventing the contract within 90 days. My attorney discourages it as it messes up the title.

Fellow investors:

What is your experience here? how often does circumventing contracts happen anyway? Is it still worth the effort to register the contract regardless?

Would appreciate your opinions please.

Welcome to the northwest area! Good luck in your new endeavour.

@Dawn Anastasi you ask the question: "Who is the RIGHT group to talk to about private money?" My mentor's reply to that same question is:

<<Whoever is pre-disposed to invest in real estate>>

In other words, we do not want anyone who does not believe in real estate, nor ever invested in it in the past, nor anyone who has to be sold to real estate. Who are they? Past real estate investors. Where do you find them? REI Clubs, 1031 Exchange groups, landlords, REI cash buyers , retiring apartment owners etc. Part of great marketing is pre-qualifying.

Welcome to the BP community Derek! One thing good about this site is the wealth of knowledge we have here. You will be able to make more calculated moves in your investment decisions. Just dive in the conversations.

I would suggest you contact some commercial brokers. This would be a starting point. Lawyers that setup limited partnerships would also be a good source.

Loopnet.com is a good way to get a feel for multi-families in your area. I look at it as a starting point, not necessarily to find properties, but to hook up with commercial brokers that can bring you pocket deals. You can always say :" I like this property xxx, do you have others similar to this?"

You can also combine this with a direct marketing campaign geared towards Multifamily owners/landlords.

@Jason Williams Welcome! I'm from Vancouver, BC. Just keep diving on the conversations, the learning just keeps happening.

hi @Account Closed

Let's say your private lender is your grandmother, she lends you the money. If you can show the money in your bank account for at least 60 days, some banks will allow you to use that as down payment. I suggest you find out from your bank their requirements.