All Forum Posts by: Alvin Barker

thanks @Fradel Schaechter and yes I'm motivated lots of time to make up and excited to get back to doing what I love and am good at!

Alvin

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Oh yeah forgot to add that the cabin is a repo offered by the land owner he will carry a contract.

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I have an opportunity to buy a rehab project but the buildings are on leased land over looking Cedar river with river access yearly lease is about the amount of property tax in nearest town 1100 for year around occupation 550 for summer house any one with any experience in some thing like that?

Thanks John and Aziz

Hi I’m Alvin Barker an eastern Iowa investor focusing on Benton, Jones, and Linn Counties more Benton co. because its where I want to be located myself.

Been out of real-estate for 30 years because of 2 devoices and other life challenges like identity theft.

Looking to fix and flip dong most the rehab myself I been listing to the pod casts and have a few books they all say don’t do the rehab yourself get a contractor, then tell about all the trouble they have with the contractors, 30 years ago thats what fix and flip was doing as much you could your self.

Then after my second devoice I went to work for a local large management company doing rehabs making some one else money I don’t do every thing flooring is best left to guys that know what their doing and not typically a one man job, roofing I can do it but again not really a one man job, didn’t do drywall for a long time either because need to know what your doing and I didn’t found a guy that wanted to learn about plumbing when I was working for a management co in Minnesota we work projects together to exchange skills now I can make a hole in a wall look like it was never there or sheet rock a whole house. I can see the benefit of multi contractors on multi projects to start at least going to do one or 2 projects at a time.

Having a few challenges on financing right now since I have a 0 credit rating believe it or not was done deliberately because of identity theft in 2000 now have to rebuild it too.

Long term goals I’m 58 so wanting to retire or semi retire in next 10 years not really wanting rental projects unless I meet a great property management team exception to that is I want storage rental maybe a few of them. And a wooded acreage.

Think thats a longer intro than I intended

thanks

Alvin

its been a year Brett did you ever find an answer to this? 

I also joined another site this week that suppose to have privet money when I hit the get finance button I got a finance co and was looking at 11% and 3 1/2 points and minimum loan is 75,000 project I'm looking at right now don't need that much 45k to get the property  since have to do sight unseen its a re-po out side looks good lawn is still kept and siding is in great shape and roof is newer over sized garage in back yard is only a few years old so not expecting more than 15 to 20k on the rehab so looking at 65k for the whole project it last appraised at 133,833 last sold in 2001 at 80k  figured to list for 90k when done he asked why I would work on that low end of a project?  its like 25k profit is what I see most people getting on 150k projects so why not I am thinking about passing on his finance offer my self.