QUOTE (JimWhitelaw @ Nov 29 2009, 08:13 PM) Ha! David beat me to it while I was writing! Thanks David and Jim. Further, if the lease expires December 31st (What was I thinking?) and they move out December 18...is the 31st still technically the date they "give up possession"? Torie

Two Quick Questions: Property is in Alberta. Renters threatened to leave if I didn`t lower the rent for the second time in a year. So they are moving mid-December and want their DD back in order to put it down on the next place. I am concerned that, as they are responsible for utilities until...

QUOTE (MikeSunley @ Oct 16 2009, 03:26 PM) I`m IICRC certified and ozone is ozone I`m afraid; although I do understand where they`re coming from. The equipment we use is commercial grade and the levels of O3 we work with go way beyond the limits of the units people would usually buy or rent...

I thought I would post this to let you all know where things are at. Wow what a week! I will outline the whole deal and explain the process that I have gone through to get to this point. I have been a REIN member for two and a half years and have two revenue townhouses bought since joining...

QUOTE (ThomasBeyer @ Nov 9 2009, 10:35 PM) you have cash .. or access to cash for 340 + 20 + closing + holding costs .. i.e. line up the (money) ducks FIRST .. then write offers ! There will be other deals .. Note the "s" in ducks !! i.e. if you had 10 potential JV partners, and the first...

QUOTE (tonypeters @ Nov 14 2009, 09:40 AM) Torie, thanks for sharing your experience to this point. By doing so, you will help other forum members understand the AWESOME POWER of "Creative Real Estate Investing". I hope you are able to secure an investor and close on this deal quickly, and I...

QUOTE (tonypeters @ Nov 12 2009, 09:52 AM) Great feedback Barry! Thanks for jumping in on this thread. I have been working with Torie very closely over the past few days, and as a result of the education he has received, I do believe that he now has a really good handle on the situation. The...

Thomas, I didn`t get a comittment from my potential JV today. I will keep working on that. However, I did ask my realtor to pull comps on the property. In doing so he told me that he knows the property and that $340K is a steal and that he has a buyer who will pay $400K-$425K if I do $20,000...

QUOTE (tonypeters @ Nov 9 2009, 03:55 PM) Torie, I responded to your e-mail with a few questions. Did you receive them ok? Yes I did, did you get it?

QUOTE (dleischner @ Nov 9 2009, 09:39 AM) Good morning, What about: 1. Get the seller bring his arrears to current (if possible). If not, your risk with the project will be this amount. 2. Construct a short term "agreement for sale" (the shorter the better). 3. Either exit the vendor by...

QUOTE (neill @ Nov 8 2009, 09:56 PM) Also recommend getting the title out of the vendors name as quickly as possible..... Bigger idea: Call Barry McGuire! Thanks neill

QUOTE (ThomasBeyer @ Nov 8 2009, 05:54 PM) yes that makes sense BUT consider the RISK too .. this may be too large a deal as the first deal !! I`d be EXTREMELY NERVOUS closing this deal especially with little cash to cover the 1st 3-4 months of payments and arrears .. thus if you do not have...

I have a potential deal where the seller is willing to do whatever it takes to save some of the equity in his house from bankruptcy. His business is a few weeks away from going bankrupt and he personally guaranteed the loans. Is there a legal way to buy his house with owner financing and...

QUOTE (GaryMcGowan @ Nov 8 2009, 04:23 PM) Verify the ARV. Close with cash with a hard money lender and sell quickly as possible. You should be able to afford any interest the lenders will charge you for borrowing costs. This to me is a pretty cut and dry deal. The seller says they want to cash...

I would really appreciate some guidance on this. A guy contacted my online add and states that the ARV on his house is $500,000 to 525,000, it is dated but in good condition. Current market value is $450,000. He is two months behind on payments and his business has had to be closed. He is near...