All Forum Posts by: Benjamin Sampson

Good morning. 

I have a new build with Blacktip. It is 58% complete and just passed the end of the build contract last week (24 months). 

For over the past month I have not been able to get ahold of Jeff Beach, he will not reply to email, text or phonecalls. 

I also received a letter from the county saying that my property is in violation of several health and safety codes. 

I have around $130k in this project so far and am worried that I am going to have to take a huge loss on this project. 

Any advice welcome. 

Thank you @Devante S. I appreciate the encouragement. There is a huge local sports network here in Northern VA that would be able to use the facilities, especially in the winter months.

I appreciate it. 

Ben 

Greetings all! 

My 7yr old son does Futsal (indoor soccer) and his coach (who is a former professional futsal player) is looking for his own venue. (Currently practices are bouncing between venues). The coach would eventually like to start his own Futsal League. He is serious about it, has a strong vision for this. 

I would like to try and help solve his problem and help him achieve his vision. I have done a lot of investing, to include a little bit in SFR. I have zero experience in commercial investing.

Ideally the coach would like 5+ acres to build 2x outdoor fields, PLUS an indoor facility. I think though in the sort term, if we can aquire an indoor facility we would be able to rent it out for multi purpose and make some money off of it, while at the same time solving his problem of not having his own space. 

What I need help with is: 

- knowing where to start

- knowing the right resources (youtube, books, people) to get in my corner

- guidance on how to crowdfund (I would bring in multiple capital partners for this as the property likely will be expensive...we are in Loudoun County, VA)

- an experienced commercial realestate investor to help with guidance on this process. 

I appreciate any help you have! Thanks so much! 

Good morning BP Community. 

I am new to REI and currently trying to find my first deal, and doing a LOT of deal analysis.

How do you estimate closing costs? 

Is it a percentage of the price of the house? 

It is generally a set amount? 

Does it depend on the market that the property is in? 

How do you all estimate closing costs?

Everything else I am able to figure out pretty easily, but just need some help with this one area. Any help with this would be appreciated. And feel free to DM me. 

Thanks so much! 

Good morning, 

I am a newbie to REI and am looking to invest in Colorado Springs (COS) market. I used to live there and I know the town really well.

If you know this market, you know that there is a TON of new construction. One of the things I have been researching is purchasing a new build town home in COS. 

When analyzing a new build is it safe to lower the % on repairs and cap-ex? I was thinking of lowering it from 5% to 3%, just because everything in the house is brand new. Is this a safe way to look at it, or should these items stay at around 5%?

Thanks so much! 

@Matt Raleigh I would love to chat sometime. I live in Chantilly, and I am kind of in the same boat as you. Brand new to REI, have cash and am ready to invest. I am looking into OOS markets as well.

I have been listening to bigger pockets podcast for about a year. I hear lots of great stories about how the BRRRR has helped build wealth and I understand it in theory.

By doing the BRRRR strategy you are creating passive income, growing your net worth, but at the same time growing the amount of money that you owe the banks.

One thing that is still unclear to me is how people doing this strategy are continually able to borrow money from banks when their debt amount increases also. 

Does an investor have to have a ton of equity or capital somewhere else to leverage the increasing debt that comes with building your investment portfolio? 

(I am in the ‘pre investment’ education mode right now, not yet ready to pull the trigger on it...that’s another post🙂)

Thank you!!