All Forum Posts by: Jessica Zolotorofe

Absolutely get an attorney. Especially for vacant land. So many details you can't miss or you are really screwed. Environmental issues, land use issues, zoning, approvals, on and on. 

If they do have a lease, you are stuck with it. Have they produced a copy? How long have you owned the property? The previous owner didn't provide you with a copy?

If you are wholesaling, the contract is actually that much more important. The end buyer can't renegotiate the terms, they take whatever you get for them, so I wouldn't try to cut corners.

@Peter T. Apartments behind retail should be no problem in and of themselves. if traffic, ingress/egress, sanitary/sewer/stormwater, etc. are compliant or variances are granted for all those things, I see them all the time.

Try Temple View Capital Funding. I can provide further info if you want to message me. 

I recently wrote an article with some stats and advice on rentals near colleges. I think it's in my blog on here, but if not, feel free to contact me and I'll send it over. May be of some interest :)

Why would that benefit you? Unless you have bad credit and can’t obtain conventional financing that’s a pretty bad deal for you...

Is the seller an individual or an entity that will likely be dissolved once the transaction is completed (or at least be depleted of assets)? Is there an indemnification provision in the contract? Does the provision say expressly that it survives closing? Nothing in the real estate world is a sure thing, but a guaranty helps if it is made by someone with some assets that you can actually go after if they default. Why would you want someone else doing work on your property, though? Make sure they are insured and only use licensed professionals! Can they even get a CO in your jurisdiction without owning the property, or might it become a headache for you even if they comply? 

What exactly are you looking to do? Can you get some rental income if you purchase? Or flip it? Is there sufficient equity to take subject to and get a second lien? Does the seller want to be the wrap-around lender?