All Forum Posts by: Juan Flores

Bigger pockets is a community for people who love th RE game and those who want to learn about it.  It's an open forum and like EVERY business you have good people and bad.  Theres not one industry in the world where everyone is good.  Let this reporter highlight the negative because they dont know better.  I'm going on my third rental property and my second bigger pockets helped I immensely.

Good morning, this does sound complex a d something I've never heard of in this format.  Corporate housing is when a firm pays for housing for 90 or 180 days of an employee they're relocating and they normally look for furnished homes.  

I would definitely raise the rent.

The concerns I would have are: 

people that go to Hotels dont clean up after themselves so who would maintain the property?

How old is the corporation and what is its corporate credit score?

Are they willing to do more security deposit?

And I would limit their ability to sublease or Airbnb my property, which might be what they really do instead of "employees" is really abnb guests or both.

@Nathan G. Thanks for the advice, I filed today and also have the seller negotiating a cash for keys since they agreed to provide me with a vacant unit. I guess I'll have to wait for whichever comes first. Next time I'll hold escrow.

@Theresa Harris already closed and my mistake was getting a letter signed where they agreed to $75.00 per day but did not hold escrow... ( lesson learned).

Thanks for the advice, my first investment buy, so I need all the help I can get.

@Nick C. Great advice, thanks Nick. I filed today but the seller is also still negotiating with the tenant. I adviced him to use a cash for keys method.. let's see which happens first

@Patti Robertson thank you for your post... the tenant had no lease, the tenant signed an agreement with the seller to vacate the property by x date. The seller agreed either accomplish this or payment $75.00 per day past the X date that this is delayed.

At the closing of an investment property, the seller signed an agreement to follow through the eviction of a tenant 15 days after closing.  The seller had already a signed agreement with the tenant on a move out date.  I asked that the seller sign an agreement with me that he will own the eviction process if the tenant doesn't leave and that if the tenant is not out in those 15 (rent free days) the seller, would owe me $75.00 per day for as long as he took to evict the tenant thereafter.

My question is, would this agreement hold up if I need to take this to court? 

Their replacement real estate is roughly 50K more than what they are selling now.  The idea of deferring the taxes actually helped me negotiate a better price.  @Dave Foster, I can give the seller your information and have them reach out to you.  We have a closing date of March 27th, so maybe you can serve as their QI.

Hey, thanks for your response,  I noticed I misplace the word buyer and confused the post.  I am the buyer, in this case we had to renegotiate price due to an appraisal and after finding out that the seller wants to use the funds to buy another property, I suggested we renegotiate the price and that she leverages the power of a 1031.  She had never heard of the concept and the idea of helping her could make or break the deal.  10K lower in price and now being able to sink more of her gains into the new property is a good idea.  

Good evening, I am negotiating a purchase and a big part of my offer is to help the buyers with the process of a 1031 exchange.  I'd like to know what are the typical fees involved in this process to see if I can make that part of my offer, and if anyone recommends a company they've used before.

New to the BP community and looking forward to it.  Thanks