All Forum Posts by: Marc Murphy

@Brandon Smith I would check with the Springfield Police Department. They have great data, that is public information, that will be able to tell you specific to the area what you are looking for.

1031 into a REIT?

If you are a realtor you would need to honestly divulge if there is an offer or not. I agree with Sam Shueh , and his method of having someone else list the property. This will help avoid many gray areas If they ask if there are offers I usually say: No but we have x amount of showings in the next 48 hours. (This will help drive urgency) Yes, we are looking for highest and best by x time

Did you exchange a deposit when you went under contract? If so you have equitable title(rights to buy the building) If you asked for mortgage extension and he denied it he could get another offer, but he would have to return your deposit first (if you gave one).

Depends on market. I would include and use stainless steel. They are usually $50-$100 more and depending on market you would be able to get $25-$50 more per month in rent.

Costco usually has the cheapest option for this

Try freedom, westfield, Farmington, or Florence Rates have gone up in the past few months but they might be able to get closer to 80% ltv

I don't think sub metering would trigger inspectors to want sprinklers but other work.  If it is a major rehab they could trigger you to do so but doesn't happen often if you are upfront about your plans. 

This is a great lead source!

Great idea!

Develop a relationship with them and give them incentives!

Also if you are using commercial loans for these investment properties they do not show up on your credit report. An inquiry will show up on your report but the loan amount or outstanding debt will not