All Forum Posts by: Scott Garrels

Hello BP team.  I am in the closing process on my first tri-plex property where there are two empty units currently.  I am looking for advise on two points.  

First, what is the best way to quickly get ads placed to begin getting calls to fill the empty units?  They are ready to go now.

Second, must I wait until after closing to contact the current tenant to begin building my file on them as well?

Maybe I am being too excited?  Thank you for any advise you can give me to get started right.

@Paul DeSilva. From the comments here it sure sounds like a lot of FOMO. Just like the stock market right now.

Isn’t anyone concerned that the Unemployment levels are going to slam down hard once the moratoriums are over??

@Andrew Syrios Thank you for your reply.  I understand the balance you are trying to find between price and other terms.  Good point to consider how they can put one another in a more risky position as well.

@Tom S. Thank you for your reply.  I understand your point here as well.  Appreciate he insights.

@Bill B. My apologies for the confusion, but I think you have clarified nicely here.

I was primarily speaking from the buyer perspective that the main concern is to determine the seller motivation then you can properly assess which contingency to adjust or which to be sure are in place.  Thank you for the clarification

@Bill Brandt Good point! And is appreciate the response here. So not really a concern of standards but more about what the hot button is if I read between your words, right?

So when you submit an initial offer on a property are there any standard contingencies that go along with it?

For example, if you submit a lower then asking offer but non-contingent upon an inspection, would this be an enticement or are there other things that should be considered?

I know there are all sorts of ways to do it but curious if there are any items considered as standard? Thanks for your insights.

@Elizabeth Harding

Thank you for your reply.

I will check out the book you mentioned here. Thanks for that tip.

@Nate Marshall Thanks again for the insights here that you have provided.  I do get how this structure provides the benefits you describe here.  It also makes sense for me to organize the various companies in this manner.  I come from an aviation company background and they utilize a similar structure for the various businesses they have as well.

Happy Labor Day to you!