All Forum Posts by: Ronald Rohde
Ronald Rohde has started 17 posts and replied 5105 times.
Post: Need recommendation on the quickbook version
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
- Votes 2,249
I recommend Quickbooks Online, use it anywhere, cloud based. I used to use Freshbooks, but not nearly as customizable for my rentals.
Post: Put a house under contract and how/ can I assign the home?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
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Depends on what the contract says, does it say its assignable at closing?
Post: Seller Finance on Commercial Property: Good or Bad?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
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If the price is reasonable for the cashflow (i.e. the rent you'll pay yourself + possible rent from other tenants) then you have a lawyer draft a Purchase Agreement with a note for the financing, close at a title company.
Post: Investment in The Summit Lofts in Georgetown TX. Is this a scam?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
- Votes 2,249
You may be right to be skeptical, but condos built for $125 sold for $300 sounds about normal, but this is a net 100% return, not 200% Perhaps they told @Dianne Pettitt "double your money" which is 100% not 200%. It just depends on the market and whether the team can execute. I have no issue with cold calling either.
Post: Looking for a contractor and property management company in DFW
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
- Votes 2,249
I really should find an old post which addressed this. do you have parameters for your project? Budget? Loan? Timeline? Risk profile? Return?
Until you have all that ready, then get an agent, the rest of your team will come as you are prepared for those steps, but right now you're wasting people's time by not having any specifics nailed down as to what type or location for your PM or contractor. I can recommend a $75/month PM thats all digital or a $200/month that will have a book of contractors and charge you accordingly, very different products.
Good luck!
Post: HORROR FOUNDATION STORY?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
- Votes 2,249
Originally posted by @Derrick E.:
@Michael Mullins Are they really that easy to fix? I am looking at a place right now with foundation issues but I have been leery.
Slab on grade vs pier and beam is pretty different IMO
Post: Dishonest Disclosures in TX and Advice for a Greenhorn (me) Plz
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
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If you're patient, the market will soften and you can flex your cash offer against multiple sellers desperate for a contract. No need to get fussed up about the market.
Post: accepting a holding fee
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
- Votes 2,249
Originally posted by @Patrick Bartlett:
Hello all
We are considering accepting a holding fee from a potential tenant that will go towards his security deposit when he completes payment of security deposit and first month's rent by a specified date. If he fails to complete payment then he will forfeit the holding fee. We were thinking to have him sign the lease with an addendum stating all of this and voiding the the contract if payment isn't made. Can we do this? Are we opening up a can of worms? Is there a form that you would recommend?
The reason we are thinking of doing this is he has been the best applicant so far. We had a friend show him the place, we are out of state, and they liked him. My wife has talked to him a few times to discuss the property and she likes him.
thanks for any insight!
You have a couple issues with this, but it sounds like it can be done without mixing the two concepts.
I wouldn't sign a lease until he is qualified and committed. He should pay an option with reservation as consideration. If he takes your property off market but doesn't sign a lease, why even reduce the security deposit?
Post: Suggested Annual Maintenance
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
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Pretty good list. I would include sewer clean out as part of broader plumbing checks. Depends on any complaints from tenants, but stay on top of that system.
Post: Commercial Real Estate Copywriter
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,326
- Votes 2,249
Originally posted by @Åsmund Ryningen:
Thank you for the book suggestions.
It's the networking part that I'm most curious about. I live in Norway, but I'd really like to write copy for US commercial real estate brokers. Would that at all be possible, and how would I go about "networking online"?
Send me an email, maybe we can work on some projects. ron [at]ffrealestate.net