All Forum Posts by: Nicholas Alexander

@Anthony Vander Meer I am early 40s and starting out. I figured I would have to start with SFR instead of MFR due to not enough capital and property management experience. I would also love to accelerate by acquiring a small multifamily, how were you able to do it?

@Greg Scott how did you find a group? I am starting out and scaling up will be key. Thanks

@Brenden Mitchum do you work for the sellers agent? I am confused as to why they would be telling anything other what the seller tells them. The only people that tell me what to do are my clients.

@Matt M. So I know what I am paying for and can determine where I want to spend my money. I don't think its unreasonable that a professional contractor should know their base rate and material cost for standard items.

@Zachary Betters I would be interested in more info as well. Thanks

@Thomas Moran are there no contingencies in the contract (inspection, financing, appraisal)?

A contract can say anything but that doesn't always mean it is enforceable. And even if the contract is enforceable it would still be on the plaintiff to show (actual) damages. You can ask for whatever you want that doesn't mean the court will award it. It could very well be that you have technically breached the contract by not closing but the wholesaler would still have the burden to show damages above and beyond earnest money, which typically requires a showing of reasonable mitigation efforts.

@Bryan Mitchell how do you get 30% discount in a good neighborhood all cash? And is that 30% of normal market price or down market?

@Terry Dunlap it's a luxury to be able to swing for the fences on appreciation only in every deal. You can't eat future appreciation and live in it.

On the other hand its difficult to generate wealth if all you are doing is trying to leg out bunts to first base on low-margin cash flow.

For me investing is like life the truth is somewhere in between.

@Weston Couch if a transfer from natural persons to an LLC violates the due on sale clause, then why wouldn't a transfer from a land trust to an LLC trigger the due on sale clause? The transfer to the land trust does not modify the terms of the mortgage note which prohibits transfers to an LLC. I read your article and it does not address this point. Thanks

@Adam Payne thanks for the insight. Based on some initial research I was thinking it might be more cost effective to build. Obviously you point out some potential pitfalls i.e. wells and grading etc.