All Forum Posts by: Austin M Margarida

@Bill B. Pole Barn type

A timber frame with a couple 14' doors with room to park on both sides. I do plan on building another office/warehouse/apartments on the same lot but a little further away.

When it comes to lending, what route would you recommend? #1 I assume would be owner financing on a good piece of a land? #2 bank construction loan? #3 SBA 504? I am going to start looking for land close to the highways (outside of St Louis and Kansas City) with no crazy turns or anything. My exit strategies would be being able to rent to another shop looking for another location, etc, or rent it out to other local mechanics who run a mobile business and maybe need a place for a special project or two, I do not intend on selling. 

I wanted to do the exterior first before I really dug into the interior. I wanted to feel something different internally every day I came to work on it, and doing the exterior first made me proud to come in to work on it on the inside to try and match the looks of the outside. So far I think I'm doing just that, the interior is wrapping up soon- I still need to install drawer slides, build some faces, and spray cabinets. I will make another post when all of those updates are coming to a wrap.

My plan is to put this on the market. I got it at a great price, and *knock on wood,* no major issues have happened throughout. I was able to move into the house once I got it more comfortable and the best part is my girlfriend helps pay the mortgage! The past few months have been awesome- living close to free, successfully starting a logistics company- buying a truck and trailer that should help me gross $10k+ a week. All the hard work is done there, now need to just set up systems there the same way I have learned about in RE through BiggerPockets! My goal is to build enough revenue through the trucks that I can be able to show the banks and get a much larger loan down the line. 

My Purchase Price: $137k as a 3/2....Rehab and other costs has me currently around $175k and I have another $1-3k left including a new front fence, which I think I want to build really nice to contrast with the front exterior. My biggest Value-Add was on the inside, I took down and opened the living space and kitchen, and added a partition wall to create a 4th bedroom and a good sized office. I think I could be looking at a sale around $275k for a 4/2+office. 

@Javaras Thomas stay east of main street.. and avoid west of main all the way up to 36th street or so

@Pamela Vargas if you need any work done on the property I’d love to help!

@Angela Grant depending on the work needed, I’d like to see how I could help!

@Nate Erez Hey Nate, I work as a contractor for folks and can help out. I have a flip east of river that I’m going to live in for a year for capital gains. Have seen some of the market cool down a little, am looking for another project now too

@Javaras Thomas what do you need help with?

@Julie Vu good choice!! Not much goin on today, feel free to contact me with your questions😁

@Va Des if I were making this investment, I think Arlington would do better longer term.