All Forum Posts by: Mat O'Grady

@Abad Marroquin

Did you end up purchasing this deal? How did the lease situation turn out? Did your bank care about the verbal leases?

@Michaela G. 

@Julie Dike

@Teri Feeney Styers

@Elizabeth Luchenbill

@Jack P.

Thank you everyone for your thoughts and input. 

@Terry Kipp @Matt K.@Karen R.@Jonathan Soto@Kevin Solomon@Gilbert Dominguez

Thanks for all the input!

@Shawn Psenicnik

The land was bought by one person and then all the houses were built on it. The person then rented out all the houses. The seller is not currently trying to sell the land with all the houses being rented on it. 

@Greg Walsh

Do you have a basement or another spot to move their stuff to? I wouldn't throw it out, but I would get in there and start cleaning things up. Tell them you are going to be doing it and if they have a problem with it, give them a deadline to get it out or else you will have to charge them for the month's rent. 

@Jack P.@David Jessee@Ellis Hammond@Teri Feeney Styers@Dennis M.@J M Dejean@Jorge Leon Jr@Gene Guarino@Lee Bell

Thanks for your thoughts!

@Peter M.@Jim C.

Thanks guys. Both ideas I never thought of. 

@Blaine Alger

Maybe because the states built houses earlier? I know a lot of the houses here were built in the early 1900's, I am not sure how many giant complexes were built back then.

@Cindy L. 

Thanks for the input! I didn't think about updating and then refinancing.

@Nik Moushon

Thanks for your input. I know that the ideas are different, that is what I am looking for. I wasn't looking to narrow anything down yet. I was looking to get ideas that I may not of thought of. The 22.5 acres includes the land the houses are on. 

@JD MartinThanks for the reply

The street is off a busier road, but it is a rural area. The only houses on the road are the ones that are for sale. It is a ten miles to the nearest city area with jobs. There are currently two similar sized places available for rent in the area. At asking price, each house would cost 72k. Bigger houses go for 150k. Really nice bigger houses go for over 200k and sometimes 300k. 

I was more just asking the question to see what possibilities people could come up with that I didn't think of. 

I currently have 17 units and just looking around for opportunities.