All Forum Posts by: Justin Winn
Justin Winn has started 1 posts and replied 64 times.
Post: Tenant harassing me
- Real Estate Agent
- Mountain View, CA
- Posts 70
- Votes 59
Many people have said you should make a tough stand. Based on your profile location I might encourage part of that tough stand to be consulting with a lawyer to understand what your specific rights are there in CA. Because if this is a person that doesn’t want to walk away from their lease, and is going to be harassing you for a while, then I would encourage you to know what options you have.
Post: How To Sell A Portfolio of Single Family
- Real Estate Agent
- Mountain View, CA
- Posts 70
- Votes 59
I recently purchased a small portfolio in Oklahoma and I found that opportunity because the MLS listing mentioned the other properties, and suggested the owner would be willing to discount them if someone purchased all of the properties together. Depending on how big your portfolio is it may help if you break them up into 3-5 and sell them off that way. Also, maybe talk to a local bank to understand what they would lend on so that you can help educate a potential buyer… also, I would be interested in knowing more about your offer.
Post: Where are people interested in buying?
- Real Estate Agent
- Mountain View, CA
- Posts 70
- Votes 59
Quote from @Amor Suarez:
Hey! I am a new investor looking to zero in on a neighborhood/area to target my deals. Where in Tulsa is a hot spot for flips?
I have talked to some folks in your area doing flips. They had recently listed a house in Claremore that I inquired about. I might encourage you to do the same, call on a few properties that have recently been recently renovated and talk to the people who flipped those houses. Or if you’re willing to go a little further out and do some work in Miami, OK let me know.
Post: Lease-to-Own Helping out family
- Real Estate Agent
- Mountain View, CA
- Posts 70
- Votes 59
Investment Info:
Single-family residence other investment.
Purchase price: $68,500
Cash invested: $15,000
This is a lease-to-own agreement that I will pay off and then the interest that would have been paid to the bank over a 30 year period will be my profit.
What made you interested in investing in this type of deal?
I wanted to help a family member, and I wanted to start growing my portfolio in North East Oklahoma.
How did you find this deal and how did you negotiate it?
I was looking around on Zillow, and working with a local real estate agent.
How did you finance this deal?
Traditional financing.
How did you add value to the deal?
I funded the down payment.
What was the outcome?
The house was in probate so it took a while to close, however, it appraised for about 10k over what we paid.
Lessons learned? Challenges?
Probate can provide some great deals, but you'll need to be patient while the deal goes through the courts. We were short on time trying to get my family member out of their previous location and the workaround was to rent until the probate process was complete.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Real estate agent, and a lender. Chase Bank, I was very happy with the process.