All Forum Posts by: Jared Forman

I think we needed to define subject to: we still left debt against the property just not the city debt.

Subject to is attractive to myself since it allows me to buy the property then negotiate the debts. I do not ever want to pay market in debt

So I buy real estate subject to also and will provide you my most recent deal.

The seller bought the property in the 70's and recently let her son live in it. He is drug dealing out of the property and she wants him to go to rehab. So the property is probably worth $35k. 

debts owed:

$5,000 mortgage

$10,000 to the city

rather than us going the conventional route we bought the property within 7 days. Paid her $5000 and paid her mortgage off. This remediated Andy personal liability to her. For us we have a property with a squatter in it and got it at a discount

I was selling a house for a client earlier this year and he told me the story about when he bought the house back in 1998...

he bought the property in asis condition from the previous owner with all content inside. When he went to clean out the basement he found what looked like a bomb from with a swastika on it. So he decided to do what any civil human would do and call a bomb squad to see if it is active. The bomb squad blocked off and evacuated the entire block in case this thing was active.

Bomb squad take the bomb out of the basement and back to their lab to investigate. They claim to have opened the bomb to see if it was active . It was a practice bomb from wwII. 

after he called to collect his memorabilia and they said it was missing. Supposivly it was worth $250,000

who is the number one affordable housing non-profit in the country and how are they setup?

Greg,

why does the value differ based upon the stick vs modular. Is it a stigma thing?

Currently doing a study on modular vs site building for working class housing. What are your thoughts?

cap rate is a loose translation for your yield. So if you reduce cost, your return goes up and yield goes up. So your property is worth more. 

the currently issue with looking at proforma data is just that, it is someone's interpretation. If it is a ba k they are projecting low, if it is a broker they will project high. Always underwrite yourself to avoid and mitigate losses

If it is your first investment use the FHA 203k. Because of its institute it will provide more security for lose mitigation. You have a huge exposure being a new investor and you don't know what you don't know. Hard money is modern day loan sharks, unless you know how to swim with the fish dont swim with the sharks

Hi David, I have sold some multiunits in the center City market ranging from $800k -  $1.3m . These are core asset with lower cap rates between 5 - 7 depend with some force appreciation. 

please send me a direct message to discuss further. 

what is this product that you speak of?