All Forum Posts by: Milton Marcelin

@Vinh Huynh Hey, since everyone is telling you what to do with your property. I thought I might join the fun.

Here's a couple of Value Add Opportunities right in line with what others have mentioned so far.

I was thinking, maybe you could turn the attic into a Airbnb rental. 

Then take one of those rooms and convert it into a 6 Bed Hostel (Combination on the Bathroom, ofc.) 

Finish that crawl space and rent it out to little people. 

While you're at it, why not do a built in snack machine for your 420 friendly tenants? 

If you really want to maximize your ROI, go ahead and list that garage as "Move-In" ready!

I'm joking! In all seriousness, I wish you the best of luck!

Hey @Marko Zlatic. Thanks for the information. Will take a look at it when I get the chance.

We all know that where employment goes population will follow. So, if the employment situation isn't ideal in this market, it should come as no surprise that people are leaving or new people are arriving at a slower rate.

Either way, my guess is these are trailing numbers and not necessarily indicative of what the future holds. 

Thank You @Account Closed for breaking that down for us common folk.

You are very knowledgeable, sir. To be honest, I didn't understand half of it. However, I still appreciate that you wanted to convey this information to us. 

It sounds like you know your way around words. Have you ever considered writing a book on the subject? I'm sure there's a market out there for this type of material. 

Best!

Wow, congrats @Brandon Penn! It's always nice to hear when someone is crushing it and reaches their goal!

@James Wise That makes sense! 

I didn't see how that would be enforceable either. 

Also, if the bank has access to the contract and didn't agree with that contingency they would never send someone out to do the Appraisal in the first place.

@Account Closed

@Account Closed What say you?

@James Wise Thanks for the reply. It was definitely informative and is much appreciated! 

Just to clarify. 

Is there a difference between the license that a Property Manager has and the license that a Real Estate Brokerage has? That's the main thing I'm having trouble understanding. 

For some reason, in my mind. It seems more intuitive that a Property Manager would have a completely different license than a Real Estate Brokerage.

@Jared Lichtin Yes, that definitely helps. I was under the impression the Bank wouldn't lend on a deal where the appraisal comes back lower than the asking price. I now know that the Bank will still lend but only on the appraisal, it's up to the Buyer to cover the difference. Thanks for clarifying that!

Also, local Banks have better appraisals. Noted!

Hey @Brian Shannon!

I'm in Germany as well. Bavaria actually. Anyway, always good to hear from people on this side of the pond.

There are tons of threads about this topic.

Here are a couple of recent ones. 

https://www.biggerpockets.com/forums/311/topics/696357-looking-for-a-state-to-invest?page=1#p4112229

Check out my post on this one. https://www.biggerpockets.com/forums/432/topics/695523-how-to-choose-an-area-to-focus-on-for-real-estate-investing-or-d?highlight_post=4109347&page=1#p4109347

Just use the search feature.

Best!

@Jared Lichtin I get the second part about having to renegotiate the purchase price. This is what I thought would be the case. However, can you give me an example about the first part you mentioned about having to put more money down. I don't quite get that. Thanks for the reply!