All Forum Posts by: Travis Andres
Travis Andres has started 42 posts and replied 105 times.
Post: Real estate attorney questions
- Investor
- Los Angeles
- Posts 107
- Votes 48
We're getting ready to purchase a short-term rental property and have two investors so looking to form a new LLC and have some questions regarding that. Can anyone recommend a good real estate attorney California?
Post: STR lender question
- Investor
- Los Angeles
- Posts 107
- Votes 48
@Upen Patel I just emailed you, thanks!
Post: STR lender question
- Investor
- Los Angeles
- Posts 107
- Votes 48
Hi, I'm under contract on a property in Joshua tree California that we are going to upgrade and list as a high-end STR.
the home is currently a mobile home, but we are going to do a 433a registration to have it recognized as a manufactured single-family home.
the lender we had lined up all of a sudden stopped offering DSCR loans on rural manufactured homes (they literally stopped offering it THIS week:(
The seller is willing to seller finance, but only for two years…does anyone have any suggestions on the best way to go about finding a lender for long-term fixed rate DSCR on a rural manufactured home. (it's going to cash flow like crazy, so hitting the debt service ratio won't be a problem )
Thanks
Post: STRSearch Has anyone used them or have feedback? Any other competitors?
- Investor
- Los Angeles
- Posts 107
- Votes 48
Quote from @Jonathan Greene:
I think John Bianchi and Taylor Jones are both lights-out good in the space, but the buy-in to hire them is steep and it should be. I have the contract to use them sitting in my email now so I saw a preview of all the data and it's pretty incredible. They only operate in markets where their data can hedge an almost guarantee if you follow their protocol. It's worth doing the call with them because that's free. There are other players in the game to compare with like Kenny Bedwell at STR Insights or Bill Faeth's coaching.
What's their pricing look like?
Post: batchskiptracing.com VS Traceestate.com
- Investor
- Los Angeles
- Posts 107
- Votes 48
Hey, were you able to find out any info on if either are any good?
I'm looking as well.
thanks!
Post: Real Estate Attorney in South Carolina
- Investor
- Los Angeles
- Posts 107
- Votes 48
Hey, wondering if anyone can recommend a good real estate attorney in South Carolina? Specifically looking for info about Novations and if legal there.
Thanks!
Post: Novation in SC
- Investor
- Los Angeles
- Posts 107
- Votes 48
Quote from @Account Closed:
Hey BP World - I wanted to know if anyone has had any luck with structuring a novation deal in South Carolina. I need some assistance with this if anyone could help it would be greatly appreciated.
Hey, did you have any luck with it? would love to know details if you'd care to share?
Post: HELP? End-buyer backed out of assignment
- Investor
- Los Angeles
- Posts 107
- Votes 48
Quote from @Kevin Sobilo:
@Travis Andres, the end buyer is on the hook to YOU and YOU are in turn on the hook to the seller.
The seller has no agreement with the end buyer therefore cannot take any action to make them pay. You can take action because you have an agreement with that end buyer.
In turn the seller can take action against you because there is an agreement between you and the seller.
This is true UNLESS you did this deal as an actual "assignment" and the contract between you and the seller has "or assigns" as the buyer and you notified the buyer of the change in buyers prior to the deal falling apart.
Hey Kevin, thanks for the info!
Yes, on the original contract it states "My Company, or designated entity" and yes, I told my realtor it was being assigned, and also forwarded the assignment contract to title, all prior to the deal falling apart.
Would that change things at all?
Post: HELP? End-buyer backed out of assignment
- Investor
- Los Angeles
- Posts 107
- Votes 48
Hi, hoping someone can help answer this challenge...(am I still on the hook or is the end-buyer?)
I'd gotten an on-market property under contract, but I found out it had massive foundation issues so I decided to assign it. (I never gave EMD as the listing agent didn't demand it)
A wholesaler that I know did a JV with me and brought in an end buyer, (I have a fully-executed assignment agreement stating non-refundable EMD due, etc)
However the end buyer didn't deposit and wanted to walk away, this is after the inspection period ended.
Title agent says the end buyer is the one on the hook for the EMD, but if he's not responding to them and doesn't forfeit the EMD, does it somehow fall back on me?
Any help (or referral to a RE attorney would be appreciated)
Thanks!
Post: Marketing spend for leads
- Investor
- Los Angeles
- Posts 107
- Votes 48
Hi, wanted to get opinions on monthly spend for marketing/leads…
thinking about hiring a company who provides warm leads, but wanted to get an idea of what realistic monthly spend is for it.
Thanks!