Interesting! Something to follow and see how it pans out. Got this posted from a colleague who runs business development for Withum. https://www.withum.com/resources/breaking-news-federal-court-ruled-corporate-transparency-act-unconstitutional-beneficial-ownership-information-reporting-on-hold/

How does this work? Closing costs for an owner financing deal should be considered how much? What about the agents fee? The on market property I’m underwriting says 2.5% of gross as Buyer Agency Comp. Shouldn’t the seller be picking up the agent’s fee?

Following Chris Voss' recommendation in Ch 8 of "Never Split the Difference" and using the multistep no to get the seller to bid against himself. On the second "No". Let's see how this goes. The game is exciting even if I don't acquire the property.🤣 Gotta get in those reps. Happy deal hunting everyone 😎

One of my brokers passed this over to me while she was looking at another property for me in the area. Turns out it was on the MLS and she thought I might like it given it’s a 5-unit. It’s in Harrisburg, PA and was acquired by the previous owner from a sheriff’s sale for 67k in 2013. Asking 625k with 125k down, 6% over 30 years with a 5 or 10 balloon. Gross rent=77,700 reported expenses = 21,280 (pending schedule E) Assumed NOI (50% exp ratio) = 38,850 CAP= 6.2% 5-2BR/1Ba rented at 6125/mos with 3 garages for 350/mos coin operated laundry in building to offset general area electric. Tenants pay utilities, landlord pays for sewer and water. Estimated expense ratio is 47%. These numbers work but not at 6% interest rate. Agent said seller is open to negotiating. Thoughts?

Had a great day today! Spoke with two LPs, my broker, an EY tax Partner and did some basic underwriting on a few new leads. Came across this and just had to share! I absolutely love 1,2, 5-7! Have a great rest of your week. Keep it going.