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All Forum Posts by: Neil Aggarwal

Neil Aggarwal has started 8 posts and replied 508 times.

Post: Impact of the Amended Dallas Housing Ordinance on your business.

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

All of the items they require should already be in place for good landlords. The problem is the bad ones. Now the city has to step in and regulate everyone and charge new fees to pay for all of it. It's always the bad apples that ruin it for everyone.

Post: Looking for a realtor referral

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

Welcome to the area.  You can check out meetup.com for clubs and networking events.  I am in Richardson so I don't know realtors in your area, but you will find them once you start talking to people.

Post: Off market listings.

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

You can try sending letters and postcards to homeowners in the areas you are interested in.  It seems a bit old school but it works.

Post: How do you get a loan for forclosure?

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228
Originally posted by @Asim Alam:

My fear was that investors would be proprietary and secretive about their funding sources and private lenders.

 Some people will be helpful and others will not. Ignore the unhelpful ones.

Post: Occupied auction purchase.

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228
Originally posted by @Stephanie Medellin:

They should be paying rent for those 30 days with a written agreement or you should probably start the eviction process.

 This is a very good idea.

Post: Joint Venture with a stranger?

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

Maybe I am old school, but I would never do a revenue split deal with a stranger.
There are so many variables on how things to go wrong already.  You don't need that on top if it.

Post: Relocating renter, remote lease signing?

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

Maybe I am old school, but I like to work with people face to face.  I do not like electronic-only deals.  They always seem a little fishy to me.

Post: Deal breakers for ARV appreciation

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

I would ask for a reduction in the selling price.  I would add a buffer to cover any unforseen issues that arise when you start doing the work.  It never hurts to add a little margin and repairs are a great justification for getting a lower price.

Post: Looking for a bank to support BRRR strategy

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

If banks wont give you what you need, you can look for private lenders in your area.

Post: Occupied auction purchase.

Neil AggarwalPosted
  • Lender
  • Richardson, TX
  • Posts 537
  • Votes 228

I would start eviction.  Somehow, people move things along more quickly when there is a deadline.  The last thing you want to do is to be stuck 2-3 months down the road with them still promising to move out.