Gary Swartz
Active 2 months, 2 weeks agoForum Replies Created
-
Posts
-
Thank you Jackie! It is listed residential with the ability to serve as a group home. The neighborhood is primarily residential with mostly rentals. The opposite side of the street is basically commercial (pizza hut, drug store etc.). The cash flow is much higher with 5 renters than a single family of course.
This discussion started a month ago, is it too late to take part?! If not, the $99,000 loan is current and will be paid down more each year, is that correct?! As such, there will need to be language in the agreement to allow for a lesser amount paid to the lender/owner/woman each year?! Is that correct?
Gary Swartz
Thank you Don,
I started to do that and was asked to stop via the executor. As ‘I said, concerning the existing renters and their agreements I’m flying blind which is why the thought of buying out the renters seems to make sense?! (if they even have agreements and if they are current. The one renter I spoke with has a 2016 agreement. BUT she has continued to send her $).
Do you have experience with “cash for keys” and if so, what value/amount did you use?
Gary Swartz
“If there is no God, nothing matters. If there is a God, nothing else matters!” H G Wells
Jackie thank you for this call and thank you Prentiss. I have the same fears/feelings about what is coming! The flood of money from Washington, the shut down and slow or never reopening of so many businesses, inflation, state and especially local governments trying to fund their budget shortfalls by searching and squeezing every dollar from real estate (taxes, fees, extra charges etc.), violence and unrest that is not being curtailed, but rather is being permitted/promoted. It as you said, we have never been here before. But it certainly feels as though there may be a once-in-a-life-time event coming. Thank you both!
