All Forum Posts by: Lorraine Hadden

My business partner and I made an offer on an out-of-state (OOS) single family property in October 2024. The lender required that the property be tenant occupied/cash flowing. We (the buyers) notified our agent that the property must also be move-in-ready.
We received images of the interior and exterior which showed the property in move-in ready condition/what appeared to be minimal to no deferred maintenance issues, the listing said "property inmove-in condition/turn-key". We made an offer (which was accepted) and ordered a home inspection. Needless to say the 95 page home inspection revealed that the property is in less than move-in-ready conditioned.

We cancelled Escrow and requested our deposit back. My partner also wants reimbursement of the funds paid for the home inspection. The seller's refused to reimburse our LLC the home inspection costs.

Under these conditions, since our purchase contract includes an "inspection contingency," CAN WE GET OUR MONEY BACK FOR THE HOME INSPECTION THAT REVEALED A PROPERTY IS A FIXER WHEN THE LISTING AND PHOTOS SHOWS THE PROPERTY IS IN MOVE-IN CONDITION?

@Steve K. 

I feel your pain.

It seems that if a servicing company underperforms or if there are compliance problems, lenders switch to a more reliable servicer. Also where there are changes in regulations that may require lenders to change servicing agreements which affect who services your loan.

I know that's a pain but as things change -- unfortunately, investors will be impacted by changes in the lending industry - and that includes LOAN SERVICING CHANGES.

This phrase "Are You Leaving Money On The Table" could mean that you may have missed out on money in a deal that was there for the asking. The possible lack of profit that is left behind. Maybe even failure to take full advantage of an opportunity, resulting in a loss of potential profit or benefit. Or even missing out on securing a better deal, higher price, or greater return but did not do so, often due to a lack of negotiation or oversight. Bottom line, the phrase IMPLIES that there was more value to be gained that wasn't realized.

Take for example, while representing buyers in single family transactions, during the negotiation, I ALWAYS ask the sellers to credit the buyer(s) up to 3% of the asking price toward the buyers costs. Do I always get what I ask for, generally YES - UP TO 3%.

DO NOT LEAVE MONEY ON THE TABLE IN 2025!!!

Take these California Malls ---- Eastmont Mall - Closed (Oakland); Carousel Mall - Closed (San Bernardino); Laguna Hills Mall - Closed (which was featured in BACK TO THE FUTURE); and the Village at Orange - Closed.

The term ADAPTIVE REUSE 2.0 is not a new concept but a new focus. This concept aims at addressing the challenges of what to do with defunct suburban malls and maybe even empty big-box retail store spaces that are in desirable and affordable neighborhoods. With these declining commercial spaces, these communities could be at risk for blight.

If you look around, you will see new retail spaces. A new outlet/outdoor shopping space.  But the question remains - what do we need to do with these empty retail spaces?

@Tom Evans

Congrats on the potential STR in AZ.

As for a shared well agreement, they can be tricky (even when it does not involve STR usage). This could include an easement(ingress/egress), shared costs(s) to maintain the well, or usage/owner. 

As such, I agree that legal advice is necessary for this one.

When you work a 9-5 job, you typically rely on colleagues assigned to you.

As an investor, you have the OPPORTUNITY to assemble your dream team of professionals who share your ambition and can help you achieve your financial goals. Before you start assembling your dream team, define your investment goals. What's your focus? Understand your niche! Knowing this information will help you identify the right professionals to bring on board.

At minimum, your team team should include:

• Financial Advisor: to help with investment strategies - portfolio diversification and risk management.
• Real Estate Agent/Broker: to help with property acquisition and market analysis.
• Accountant or Tax Advisor: to help manage financial records, tax planning, and optimization.
• Attorney: to provide legal counsel for contracts, agreements, and investment structures.
• Mentor or Coach: to offer guidance, insights, and industry knowledge.
• Networking and Relationship Builder (for everything else you will need): to connect you with potential partners and collaborators.

"A Market Correction is an Opportunity. It is an opportunity to increase ownership of great companies with great management at good prices." ~Warren Buffet

Takeaway - a correction in the market is not a problem but an opportunity - don't let opportunities pass you by!!!

@Ben Sturgill

It looks like your fix/flip business is doing well, Congrats!  You might want to check out / request the demo for: 

AppFolio https://www.appfolio.com/

Buildium https://www.buildium.com/

Doorloop https://www.doorloop.com/ or 

Cash Flow Frog https://cashflowfrog.com/

In the years that I've represented primarily BUYERS, I find that there has been challenges navigating transactions where the seller is a For-Sale-By-Owner (FSBO) AND inexperienced in handling a real estate transaction. Some FSBO transactions were smooth but others were challenging. In CA a third party, escrow agent, generally holds the EDM, but at times, the FSBO wants to hold the EDM or is unaware of how to hold the EDM. Other challenges also included ,1. FSBO sellers who had a difficult time screening the buyers. 2) Home Pricing Errors. 3) Negotiation challenges.

I think it take a special buyer's agent to complete a deal, from contract to close, with a FSBO listing on the other side of the table.

If you have worked a FSBO transaction (either representing the buyer or ultimately the seller who list the property after attempting a FSBO deal), SHARE YOUR EXPERIENCE!!!

@Jeremy C.

I looked at their (JLL's) website and see that they have a history dating back to 1783 in London England and have offices in DE, MS, DC, & VA. They have a far reaching footprint. They appear to be very active in the industry. They are here in the USA but have offices in 80 countries. Almost 100,000 employees. Although they are in real estate, their service areas include investment management, technology products, and VC investments.

Do some research. Review their online financials/annual statements. Reach out to their recruiter or onboarding team member. 

If all else fails, you have options to travel abroad and work in one of their office in any of the 80 countries where they do business!

Good luck on your journey!!