All Forum Posts by: Robert Naini

@Bobby Beard I'm looking for commercial terms right now as well, What bank was this from?

@Brad Carrier be careful not to over upgrade your rental, you can look at other rentals that are on the market to see what's necessary

For example:

You probably don't need granite countertops for a $550 rental

Your flooring should be either easy to clean (hard surfaces like tile or sealed wood) or easy to replace (carpet)

@Fernando Villareal Are you looking at a specific property right now?

That seller is not motivated enough to accept your offer right now... move on, look at other deals and keep an eye on that property, it may still be on the market in 30 or 60 days

Congrats on submitting an offer!!!

Just my opinion... Rents have to go up

I have a similar situation and I have offered my tenants two options:

1) They can stay month to month at market rate, or

2) They sign a two year lease, with a staggered rent schedule, $50 increases every 6 months to get them to market rates

It is going to cost them more than this to move

We've used Odoban disinfectant to help with pet odors in the past

@Fernando Villareal if I understand correctly this is your situation:

- You have a property in mind

- You do not plan on getting a mortgage

- You plan on paying a large down payment to the current owner and the current owner will take payments for the remaining balance

If this is correct, this is called owner financing and it is a great way to buy property

Depending on your negotiation with the current owner, this type of deal could be set up in several ways, I definitely recommend working with a good title company, they can help you and the current owner set up the right documents

yes, you can typically rent out a property purchased like this

And, if necessary, and you qualify for a mortgage, you can go to a bank and refinance the property to pay off the current owner

In this type of a deal, the current owner is holding the mortgage note and you make payments to them, not a bank

You own and operate the property how you want to, and if you don't make your payments they can foreclose and take the property from you because it is your collateral for the loan

Owner financing is part of the private money market, so it doesn't show up on your credit report and tends to work well for most investors, if the terms are reasonable

The Ultimate Sales Machine

The Slight Edge

Anything by Zig Ziglar, Jim Rohn and John Maxwell

@Bilal A. - you hit the nail on the head, if your spouse can qualify as a real estate professional that will be a big benefit

also if you are self-employed or your spouse will be self-employed, you can look into a self-directed solo 401K - talk to @Dmitriy Fomichenko 

With my solo 401K I can contribute up to $54,000 in 2017 and since its self directed, I can use these funds to buy real estate owned by the 401K, the profits from rental or sale are tax deferred inside the 401K

Put yourself in your "customer"s shoes", that's the seller in this case

Why have other sellers chosen to do business with you?

They give you a discount, and you give them ...(fill in the blank)

Most likely - quick closing, no hassle, no repairs, no showings, no 3 ring binder inspection for them to worry about, etc.

In the end, if they are truly motivated sellers, willing to take a discount for their property, they will accept a deal with or without an agent