All Forum Posts by: Stone Teran

 I went through a similar dilemma recently.  My advice:  trust your gut.  I'd accept them.

If I went into the witness protection program during my first encounter with a tenant & drugs, my career would have lasted less than a week.  You have to accept some risk with this job, especially in the ghetto.  You just have to play it smart.

I'm curious, what was the eviction reason for the marijuana smell tenant?  That alone would never fly with any judge I've encountered.

My opinion: Wholesalers are usually non-value-add middlemen.  I've found that, as a buyer/investor, having several good realtors on your side provides the same benefit and it's free. 

They don't care where it comes from at the closing; they just want the greenbacks.

A bank would be more likely to ignore the debt if it's in the LLC's name, especially if the LLC is showing profits.

Would you guys say that there are better deals on distressed rental real estate during bitter cold months than during the rest of the year?  I think I notice seasonality but I'd like to know your thoughts.  I'm mainly talking about buildings with 10+ apartments. Thanks.

Does the building have city orders on it and therefore the attention of the city?  People replace windows every day in every zip code without permits and no one cares.  I'm not anti-permit at all, but a window is a really easy low-hazard repair.

Rob,

You can sign the purchase agreement in your name, then create the LLC, then assign the purchase agreement to your LLC, and buy the real estate in your LLC's name. This is done every single day and extremely simple. It's a hassle if you do it after buying the real estate.

The seller (of an apt building) and I have agreed on a price.  The bank has turned down our request for loan assumption, so the seller wants to sell me a majority interest in the LP instead.  Assume the LP had a very limited scope and has no old liability risk.  Would this transaction simply consist of a purchase contract and maybe a title search?  I don't think our realtor is keen on this new idea but I think it's because we're essentially cutting him out of the deal and saving ourselves some of the fees associated with title transfer in the process.  Thoughts??