All Forum Posts by: Robert Fornwalt
Robert Fornwalt has started 13 posts and replied 54 times.
Post: groundfloor newbie question
- New Boston, MI
- Posts 54
- Votes 31
I have recently started a groundfloor account. seems to easy enough to follow but I did notice that some of the loans that were local to me had misinformation in it.
I noticed that the sales price was different. so let me explain. I found a listing that is located in my city. on the loan info for groundfloor it had a purchase price of 120K. so I checked on Redfin, Realtor, and Zillow. the purchase price would show 91k.
so I asked the realtor that sold it and she confirmed that it indeed sold for 91k.
so my question is
1.why would they say that they paid more than they did?
2.what would be the benefit of doing this?
I have noticed other listing that I have checked in my area that are also higher than the actual purchase price.
Post: have you seen this before on a MLS listing?
- New Boston, MI
- Posts 54
- Votes 31
Originally posted by @James Wise:
Originally posted by @Robert Fornwalt:
"Tenants Lease rights protected with the transfer of property ownership." I was looking at a write up for a duplex and this was at the bottom of the MLS sheet.
It's the law in every jurisdiction that I am aware of that the lease will transfer with new ownership so I don't think I've ever seen an Agent specify it. Could be a new agent who doesn't know any better, could just be an odd thing that the particular agent likes to do, could be that the seller wanted it mentioned specifically in the listing, could be that the agent was sick of getting dumb questions from owner occupied buyers who don't know any better....Who knows. Nothing to worry about as again that will be the case anytime you purchase a property with an existing tenant.
James thank you for responding. I kind of thought that's what it meant. on a side note just want you to know I'm a big fan of yours. I enjoy your videos and have learned a lot from them.
Post: have you seen this before on a MLS listing?
- New Boston, MI
- Posts 54
- Votes 31
"Tenants Lease rights protected with the transfer of property ownership." I was looking at a write up for a duplex and this was at the bottom of the MLS sheet.
Post: Using a HELOC instead of refinancing on a BRRRR...
- New Boston, MI
- Posts 54
- Votes 31
how much work did a 25k duplex need?
Post: APPEARING IN FRONT OF THE JUDGE TOMORROW FOR A EVICTION HEARING
- New Boston, MI
- Posts 54
- Votes 31
not sure on the process but I'm very interested in how it goes. please keep us posted. and good luck
Post: Yearly Lease vs Month to Month?
- New Boston, MI
- Posts 54
- Votes 31
is it easier to evict on a month to month? it also seems that if a tenant really wants to leave it would be easier for both tenant and landlord on a month to month.
Post: Practice rental property analysis: Windsor Duplex #2
- New Boston, MI
- Posts 54
- Votes 31
just checking your taxes are less than your insurance?
Post: Bad Apple in my First Rental Property..
- New Boston, MI
- Posts 54
- Votes 31
you hit a speed bump. you will get over it and so will your neighbors. stick with your business plan.
Post: Neighbor shot a shotgun through the wall into my teanants bath
- New Boston, MI
- Posts 54
- Votes 31
I'd think you would have to call the police to make a report. I'm sure your insurance will ask for one.
Post: Bad Start or Bad PM?
- New Boston, MI
- Posts 54
- Votes 31
sounds like your neighbor is the better choice for a property manager