All Forum Posts by: Joshua Klein

Thank you for the feedback. I got the traction I was looking for today. Last week the 3 lawyers I contacted were all on vacation. Today, one got back to me and gave me the focus I needed. He helped me through the thick of it. We have an inspection lined up for tomorrow and the plan is to have two contracts: one nullifying the old one and a new one that starts next month. Done.

@Lore Postman you should see my latest post.

Thanks for the feedback.

Looking at the numbers, so far, this is the best deal I've got after looking for months. I figure going into it, I'll be hands off as much as I can. I'm trying to define this. I was thinking with the help of a lawyer to handle the eviction process I might be able to handle this. I have a team of service people in the area I can call on. I'm having trouble connecting with a responsive lawyer but this is my next step in creating my team. Maybe I misrepresented what I'm trying to accomplish. I figure it will be quasi hands off. I have a small team of trades people in the area I can trust handling projects.

I'm trying to BRRR. This is my first time investing in real estate which is not my own home. We have two days to purchase a contract from the wholesaler so I have to make a decision.

The deal:

• The negotiated price: S67.5k
• Rehab: ~11000
• ARV: S110K
• Rent: conservatively speaking: $850

The complication:

• I don’t have page 1 of the 15 page lease. I’ve been told it’s irretrievable.
• The owner is living in the garage with his girlfriend. I don’t see anything mentioned about this being okay in the lease. This house isn't zoned for multi-family.
• The tenants I was told is being difficult in this transition period. She has two small kids.
• I was told she’s not paying rent. I have not seen a paper trail to prove this so I’ll likely have to start one when we take the property over.

Questions:

• Does this deal seem too complicated for the numbers to be worth it?
• I’m doing this remotely and trying to be hands off. I’m thinking to hire a lawyer to handle the eviction.
• Can I do a rehab when someone is still living in the home? I was thinking to come in, let them know I’ll be reducing the rent for one month to compensate them for the headache of rehab. If so does this need to be written into the contract?

@Lore Postman. Thank you I spoke to my realtor. It's through a wholesaler. In this case, it was easy as putting in a bid. An email with the subject indicating the address and the body simply the number. Done

The realtor asked me to submit an offer and I don't know where to find a template to do so. I'm not using a realtor.

Putting together my first cash offer deal. I'm not using a realtor and the realtor asked me to submit a offer. Where can I find a template for an offer letter?

Chapel Hill here. Plenty of interesting deals pop up there. Very enticing. I have a buddy renting by room and doing well with cash flow. I'd be willing to take a ride out and look around if you're interested.

@Frank Patalano

1. The creation of my LLC (finalized in days)

2. The funds (will have by the end of the month)

3. A strong team of contractors, plumbers, electricians.

I wanted to do flips but I realized through the buttoning up of my old home I'm now selling the cliche was right and good help is hard to find.

4. Good deals.

I live in a very competitive real estate market. I'm not finding the deals that make sense on MLS.