All Forum Posts by: Benjamin Lapidus

Almost as many people registered to attend as last year and we're not even at Thanksgiving!  At this rate we may run out of space before the end of the year.  We have a couple of sessions to fill still.  Any requests @Melissa Harris @Danny Randazzo @Omar Merced @Kurt Kwart @Rita Medeiros @John Casmon and friends?

Can't believe we've almost filled up half of registration this far out after we doubled the venue size.  Be sure to get in on this before we fill up!  Early bird closes at the end of the month folks!

@Diogo Marques @Melissa Harris - what more can we tell you about the Best Ever conference?

Can NOT wait for this!  What's changing this year? 

+ New Badass Concert Hall Venue - twice the crowd! twice the energy!
+ Whole New Line-Up touching on Hotels, Parking Lots, Land, Development, Asset Protection, Tech of the Future, Affordable Housing, Note Flipping, and so much more
+ So much more networking, more drinks included ;) 
+ New session formats like debates, deep dives, and networking breakouts. Keeping you guys on your toes!

@Ned Rennolds @Zack Broaddus - we missed you last year!

Excited to bring last year's crew together again! @Brie Schmidt @David Thompson @Jonathan Lake @Elizabeth Wilson @Sam Wilson @Ivo Draginov @Erik Hemingway @Daniel Eisman @John Jacobus @Thomas Leonard @Geetika Casmon @Anya K. @Ryan Cox @Grant Griffiths

@Josh Cowan First Bank will have the best rates for long term cash flowing assets.  I understand that each of First Bank's branches operate independently and have different decision making processes.  So I might reach out to a few VPs at a few different branches to explore your options.  I believe Pine Financial may be limited to flips, though I'm not sure.

@Joe Fairless syndicated over 100M in apartments in the last 18 months in your area.  You should check him out.

So that was a LOT of fun!  Thanks to @Chris Clothier @Brie Schmidt @Jeremy Roll @Kathy Fettke @Reed Goossens @David Thompson @Al Williamson @Linda Liberatore @Kevin Bupp @Scott Meyers @Omar Merced @Mark Ferguson @Marco Santarelli and the rest of the speakers off BP for taking a leap of faith on us!  And @Theo Hicks, @Daniel Eisman @Michael Brockway and the rest of the crew for making it come together.

Chris Clothier said to surround yourself with the 6 people who you want to emulate.  I'm pretty sure I just spent last weekend with 200 of them.  A truly remarkable crowd!

I'm in Richmond, San Diego, Los Angeles, St Louis, Manhattan, New Jersey, Chicago in the next 7 months for anyone who who was a half hour.

Hi @Christof Gardet, is this deal for renting/flipping?

I have a 5 bdr in Henrico County that the county states is 3 bdr.  Here's the deal, the number of bedrooms listed with the county doesn't usually effect what people are willing to pay for the property in rent or purchase price as long as it's a true 3 bedroom.  That said, the appraisal is going to give you a value based on 2 bedrooms, so it's important to be careful as it can effect both your lending and (if it's a flip) your buyer's lending.  If the appraised value comes in below the agreed on purchase price, your buyer usually will have to make up the difference on a conventional mortgage, which may decrease the likelihood to close.

That said, the assessor's office can always re-assess the number of bedrooms in the property, permits or not.  You can call their office to find out more and what can be done.  Henrico County is easy to work with, not sure about Richmond City

@Joe Dowdell - double down on @Adrian Stamer's comments.  There's not a ton of activity in Richmond and you're competing with NYC private equity companies in the B-C neighborhoods. One firm just bought up all of Chamberlayne Ave.  

Prices are higher than value at the moment.  I know because I just sold my last MF (38 Units on Chamberlayne).  I bought for $34K/door and sold for $39K/door, but not without dumping a ton of money into it to increase the value and attempt to cash flow.

Single families are also a lot more expensive than they used to be when foreclosures were prevalent, but there's still more margin there in my opinion than in MF.  That said I restricted my SF buys to Henrico County.

Welcome to BP and good luck dealing!

Welcome @Mack Frost - Mechanicsville treated me really well in my rental purchases the last 3 years!  A lot of folks in Richmond have shifted their focus to Petersburg, which has some really crazy, but decently risky returns.  Lot of great folks to meet out there as you get wrapped into the community.

@Nic A that also lend in some parts of AZ.