All Forum Posts by: Nathan Grabau

As a buyer, you get (most often off market) deals under contract, write the contract so you can reassign the right to buy to someone else, you let a new buyer take over the contract as the buyer, and they pay you a finders fee depending on how good of a deal you got on the property. 

Agree with @Jesse L. Weaver. The two ways to improve the access to comps is to increase you sale date range, which it sounds like you did, but then an appraiser is going to expand the search area. Are you in a low population area or just in a low turnover neighborhood? I would try to find similar neighborhoods in your expanded radius. +33% from Jan 2021 to now is a little hard for me to wrap my head around, but not crazy depending on the market you are in. 

I personally prioritize time every week to spend on Bigger Pockets and I am also a featured agent. I think the key with this is that you have to start from seeing how you can add value for others before expecting that they create value for you. I think being an investor, or being on a very clear path to becoming an investor is an important part of this too! 

I would encourage you to let them know that the are welcome to leave and you are happy to let their lease end early at anytime, without advanced notice, the next time they are upset about something. 

I would read your lease and see if you have a provision where you can end the lease early, because you might. 

While you can let them know you will release them from the lease early if they want, whenever you want to tell them, I would wait until something is happening that they are upset about so they are more likely to move on, so you too can move on with your life. 

If you have an installer that says lets do x and it avoids messing with the brick, that is what I would do. That should not be a huge line item, and people replace sliding doors and windows all the time without messing with the opening beyond putting in new flashing and caulking it. 

I would go back and look at your contact and see if there is anything about "by completing work, contractor certifies that all work done before them has been performed correctly" and if you do not have such a clause, I would have your lawyer add one for future contracts. I would also encourage you to have a waterproofing/ envelope consultant. While they are a pain in my butt on new construction jobs, they whip people into shape and something like this would have gotten caught. 

From what you are describing, depending on your state laws, you probably have very little recourse here. 

This seems pretty average to me too. I do not like prepayment penalties though, especially at 5% in an environment with dropping rates. 

If you think you are going to refi in the 18 months, you could pay a rate that is 2% higher without a prepayment penalty and still come out ahead. 

What are you actually trying to accomplish here? If I was the bank buying the note, and you buy the property for 75k, and sell it for 100k, but you hold both the first and the second, without an appraisal, I would lean towards saying the property is worth 75k and an appraiser would probably take a similar view.  

I can't speak for all banks too, so maybe you talk to some to here their offical standards for buying notes. 

Unless you have an incredibly complex financial situation, this seems like something you should be able to do on your own, or get very close to on your own at least. Broadly speaking, I would tackle debt with the highest interest or most discorporate monthly payment to remaining balance ratios. 

I would work through the listing agent, and go from there. Do you have the capacity to back out of the deal if they refuse still? In the CO residential income contract we have specific things we request from the sellers in the contract and a deadline to produce them. This just kind of comes down to what you can get the listing agent to do by asking nicely, and if they refuse, what you can get them to do based on their contractual obligations. 

I personally would have it interact with your management company like it is a customer, and deduct those costs. The blurred line of for example whether snow removal, performed by someone who works for the management company, is paid for by the partnership or you if you take the equity without charging for the management can get messy really fast.