All Forum Posts by: Ed W.

Thanks for your insight @Greg H.

Is there much of a retail market for Texarkana houses $450k and above?   

How long do they usually take to sell?  

Any ideas to sell them faster at full price?

Thanks for your assistance.

@Jordan Lester You've received some good ideas and advice above.  The one thought I believe is missing is that while most hard money lenders and private lenders prefer short term loans, there is a minority that actually prefers longer term loans of about 2 years or more.  They're harder to find (fewer of them) but worth the search effort in your situation.  

Also, there is a meeting on Wed. evening, Sept 27th in Dublin.  There's usually a private lender or 2 and/or a hard money lender or 2 in attendance.  Check here on BP under "Network" and then "Events".

@Charles Hawkins  There is a meeting next Wed. evening, Sept 27th in Dublin if you want some education and networking.  Look under the "Network" tab above and find "Events".

@Ryana Munford If you look under the "Network" tab above and find "Events" you will see that there is a meeting on Wed. evening, Sept 27th in Dublin.

On Wednesday, September 27th, there will be a FREE meeting for experienced and newbie Investors, Landlords, Wholesalers and Flippers at Tommy's Pizza on Dublin-Granville Road between Sawmill and Riverside. Tommy’s is attached to the western side of Oakland Nursery on the south side of Dublin-Granville. The meeting starts at 6:00 PM.

You can arrive and leave at any time but the general agenda of the evening will be Q&A, Speakers, and Networking.

Approximate times will be:

6:00 PM - 7:00 PM: Q&A (helpful for newbies and for experienced investors with difficult problems) - All questions related to real estate are welcome – buying, controlling, and selling properties (for rental, flip, wholesale, etc.); due diligence; rental issues like management, tenant screening, maintenance, pest control; financing (both traditional and creative); marketing; rehabbing; asset protection, and whatever else you want to know about that’s real estate related – it’s all fair game.

WE ARE FEATURING 2 SPEAKERS THIS MONTH:

Teddy Brown of Integrated Services and Attorney Myriam Gluck

7:00 PM: Integrated Services is a social service agency actively looking for housing for their clients. They'll assist with housing up to $1100/mo (in some cases short term, in some cases longer term) and - in some circumstances - may cover some tenant damage in excess of the amount of the security deposit. Mr. Brown will be explaining the program in detail.

Approx. 8:00 PM: Attorney Myriam Gluck has been doing some research into relatively recent landlord-tenant cases and has found some surprising rulings that you will definitely want to learn about. She will share her findings with us.

Approx. 8:30 PM – 10:00 PM: Networking - There’s typically a good mix of attendees - usually one or more attorneys, a number of agents, many experienced investors, landlords, wholesalers, contract-assignors, flippers, rehabbers, contractors, lenders, insurance agents, newbies, etc. Let people know who you are and introduce yourself to someone of interest to you. We have the room till 10 PM so mix and mingle and network.

As stated above, except for any food or drink you happen to order, there is no charge to attend. Attendance is usually around 35 - 55. This group has been meeting for years and attracts attendees from Columbus and all over Central Ohio.

The meeting has always been very long on content and very short on “pitches” (typically less than 15 or 20 minutes including a mention of the services of the sponsor).

Our goal is to educate about the business of real estate and how to conduct business in afair, lawful and ethical manner as well as create an opportunity for networking.

If you have real property to sell or want to let attendees know the types of properties you are looking for, you can bring fliers and place them on a table after they have been reviewed and approved.

If you have a product or service or investment (other than real property) you want to promote, you MUST submit marketing material for those products, services, and/or investments for approval no later than 72 hours before the scheduled date and time of the meeting.

Please note that Sweet Tree Investments Inc. reserves the right to remove flyers and prohibit activities it, in its sole and absolute determination, deems inappropriate.

*DISCLAIMER: Sweet Tree Investments Inc., an Ohio corporation located in Worthington, is the sponsor that hosts the meeting. PLEASE BE AWARE that Sweet Tree does NOT pre-qualify, evaluate, endorse, guarantee or warranty any deal, offering, service, company, entity, or person and strongly recommends that you perform thorough due diligence as well as seek appropriate legal, accounting, inspection, and other professional advice, evaluation, and oversight before signing any documents; entering into any contracts, agreements or commitments; and before transferring any money or giving any person or entity anything of value.

TOMMY’S PIZZA provides the room to us as a courtesy in anticipation of food and beverage sales. You are not obligated to buy food or beverages but it would certainly be a nice gesture if you did so. A gratuity is added to your bill to take care of the server(s). You CANNOT bring in any outside food or beverages.

Looking forward to seeing you at the meeting.

@Carlan Niemi

There will be a meeting on Thursday, June 22nd at Tommy's Pizza on 161.  It starts at 6.  This month (because of a special speaker) if you can't get there by 6:30 or so, the room will likely be full with about 50 newbies and experienced investors in attendance and you'll be turned away (Tommy's is strict about the number of people in the room).  If you can't get there close to 6 this month, there will be another meeting in July that will likely not to be to the room's capacity (about 40 likely in July).

@Justin Frye I am not an attorney but I am an experienced landlord.  If I am calculating correctly, you posted on April 1st.  If the tenant's rent has been due each month on the 1st, I'm reasonably certain you've passed the date when the "true" 30 days would apply.  Assuming you actually have delivered the notice and did not deliver it on or before March 31st,  I believe your tenant now has a legal right to stay until May 30th (though I may be off a day or so). 

Whether I am correct or incorrect, you are best served by running this by a landlord tenant attorney just to make sure you don't cross any lines that creates problems for yourself.  I'm not 100% certain but I think Ohio courts define "thirty days prior" to not include the day the notice was delivered.  (Sorry about the large font, I don't know how to correct that.)

OHIO REVISED CODE SECTION 5321.17 Termination of tenancy.

(B) 

Except as provided in division (C) of this section, the landlord or the tenant may terminate or fail to renew a month-to-month tenancy by notice given the other at least thirty days prior to the periodic rental date.

@Chris Sullens  As a general practice, if you don't know that the wholesaler is professional, credible, and honest (either by previous dealings with them or their reputation in the investor community) I'd definitely want to see their contract (you can tell them to redact the purchase price if they don't want to share it) so I know I'm not wasting time.

Regarding earnest money, I'd never hand it to a wholesaler - even one I trust (they could get hit by a truck, etc.).  I'd put it in escrow with a title agency.  Also, I can't speak to OK law but I've purchased in 6 states (literally north, south, east, and west) and - at least in my experience - earnest money is NOT required let alone having to be deposited.  What is required is adequate consideration to the parties of the contract.  If earnest money is agreed to and the contract signed by both parties, my guess is that if you provide it then, regardless of whether or not it is deposited, you have a valid contract.  OK law may have an unusual quirk that a local attorney would have to speak to.

FWIW, I would have been out of this deal already.  If you believe it is a smokin' hot deal, I'd get legal advice about terminating the contract and, once the contract is terminated, I'd have the attorney make a polite inquiry of the owner to determine if they are, in fact, in contract with the flakey wholesaler.  If they are not, go for it.

@Brandon Kristy 

Here is the link: https://www.biggerpockets.com/forums/521/topics/41...

Scroll down a bit to get the location of Tommy's Pizza.

https://www.biggerpockets.com/forums/521/topics/418018-columbus-ohio-investor-and-landlord-meeting-thursday-mar-16th