All Forum Posts by: Tony Stephenson
Tony Stephenson has started 26 posts and replied 54 times.
Post: Buying Turnkey property with Renter
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Originally posted by @Henry J.:
Just sharing my experience.
I got 2 MLS properties and inherited 2 tenants. My PM checked with previous landlord and confirm payment history, verified their income / credit and approved them. 1 tenant is still at the property after 4.5 years. 1 tenant moved out after 2 years. I didn't have any issues with them since my PM approved them.
My TK properties got tenants in before closing but they were approved by the TK provider / PM. If TK provider, hopefully is also the PM, didn't include the tenant then I think he/she will place a tenant for free. You will have to check your contract with your TK provider.
Hope that helps.
Henry
Thank you, it was very helpful
Post: Buying Turnkey property with Renter
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Originally posted by @Jack Edgar jr:
Like any property you buy, due diligence is key. Recently sold a 12 unit with existing tenants. Buyer is a seasoned property manager. They had all tenants fill out a tenant estoppel (shows amount they are paying, security dep. and lease term, etc.) and credit application. Since this wasn't a performing building we didn't check financials. However if this was we would have asked for the last 2 years financial statements showing the receipts from tenants of rents paid and of course expenses. Depending on the records available I would at least get a history of payments from the owner. They should have some type of record. Otherwise I would question the quality of the tenant and overall purchase for that matter.
Thank you for that, it was deff helpful
Post: Buying Turnkey property with tenant
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Hello BP family,
Just looking for any advice and or experiences with buying a turnkey property with a tenant already in place.
Thank you.
Post: Buying Turnkey property with Renter
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Hello BP family,
Just looking for any advice and or experiences with buying a turnkey property with a tenant already in place.
Thank you.
Post: Hampton Roads Contractors Wanted
- Investor
- Dallas, TX
- Posts 69
- Votes 5
@Tiffany S. thank you
Post: Hampton Roads Contractors Wanted
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Hello BP Family,
Im looking for a few contractors in the Hampton Roads area. Prefer them to be class A or B, with experience, references, proof of work and in good standing with all accounts. Thank you.
Post: Easy Flip in Hampton, Virginia! Low Priced. 2 Bed
- Investor
- Dallas, TX
- Posts 69
- Votes 5
@Andrew Michael What are your terms, im looking for a lender to fund some deals in the VA area.
Post: New Member from North Carolina
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Originally posted by @Brian Corbett:
Welcome Aaron! Let me know if you are interested in the Greenville, NC area. Good luck growing your portfolio!!
Brain, im looking to expand my investing to the greenville area and im looking to build a power team there.
Post: Greenville, NC Closing Attorneys
- Investor
- Dallas, TX
- Posts 69
- Votes 5
@Brittany Whitney im looking to start doing deals in the greenville area, im from raleigh but im in the navy right now and im living in norfolk va. I would like to speak with you and see if we can start doing deals together in greenville.
Post: Power Team
- Investor
- Dallas, TX
- Posts 69
- Votes 5
Hello BP family,
Im orginially from Raleigh but im currently stationed in Norfolk VA and im looking to build my power team in the charlotte area (wholesalers, agents, contractors, closing attorney). Im looking to start building relationships to set me up for when i get out of the Navy and move back home after my reenlistment. Hope to hear from you guys soon.