All Forum Posts by: Blake Carlile

@Jeff S. -- No worries.  Grateful for the advice.  I'm insured as the Mortgage Loss Payee and not "additionally insured."  I specifically remember from Brandon Turner's book that "additionally insured" is a red flag and doesn't really protect much. 

I'll clarify:  I'm a private lender in that I'm just an individual (not a business).  It's a simple interest loan secured by a deed of trust for a property in Kansas City.  I'm additionally insured, and the note has a personal guarantee clause.  

Hello!  I'm a private lender and recently received a signed promissory note from the borrower that looks well and good (based my research of all things that should be in a note), but it doesn't have a signature line for me, the lender.  My full name is clearly written in the agreement, but would just signing anywhere at the bottom make the contract legally enforceable?  I trust these folks I'm lending to, but don't have access to an attorney to answer questions over the labor day weekend.  The plan is to wire funds on Tuesday and I just wanted to check with this community to gather thoughts on this.  Thank you!

@Nicholas Petz -- I used infousa for my list, and initially made a few phone calls before finding a little hidden (no google my business page) facility on google maps.  I didn't do a full blown mailer campaign because I was broke and thought I could get lucky calling folks since I had free time in 2020 during the covid shutdown.

Hello.  My wife and I are looking for a good cabinet installer / carpenter to build a cabinet in our mud room next to our Kitchen. Preferably someone that has connections to a good discount supplier and can get us to a reasonable price. Not looking for a retail-priced company to do this work.  Was hoping I could get a few recommendations here from other investors.  Thank you!

Hello!  My wife and I are looking for an awesome, Los Angeles-based CPA who has expertise in real estate investing / tax strategies, and we're also searching for a Financial Advisor.  We're hoping to make this the start of a long-term business relationship.  Looking for recommendations from established real estate investors on BP only at this time -- no businesses or solicitations.  Also, I'm new to BP -- if there's a better forum or place to make this request, feel free to let me know!  Thank you!

Hey folks!

Totally forgot to introduce myself before posting in another forum thread.  Glad to be on BP.  My wife and I are finally at a point in our careers where we're earning enough to start investing in real estate.

1. Where I am based:I am based in Los Angeles California but will be investing in the Kansas City / suburb areas with the BRRRR strategy. Starting off with SFR up to 4-plexes. California might be too pricy for us to invest in at the moment, but after seeing Lee Ripma's BP podcast episode, I've become dedicated to investing long distance in the KC area as well.

2. Goals in joining BP: To learn from others' experiences and to wrangle up some highly recommended investor-minded professionals for my team. (Agents, Lenders, Contractors, PMs, CPA / financial advisor, etc.)

3. Interesting facts about me: I'm currently a professional film editor on popular scripted television shows. I was in the Air National Guard (St. Louis), I very nearly bought a 15k sq. ft. self storage facility in MO in 2020.

Thanks!

Hey folks! I had a Self Storage facility in Missouri under contract in 2020, but had to back out of the deal right before closing because of bad survey issues. I was new to real estate investing at the time and spent about a year leading up to my offer educating myself about the industry and RE investing in general. At first, I thought SS was what I wanted to focus on rather than other asset types (because of no toilets, less maintenance / capex), but now I'm starting to consider the long distance SFR BRRRR investment strategy. I've read some books on the subject, and I really love the idea of the perfect BRRRR (or close to it) in order to refinance and get all or most my initial investment back to reinvest again fairly quickly.  

On my SS deal, neither party had real estate agents involved.  I worked with a RE attorney who provided the boilerplate purchase and sell agreement and he also kept us on schedule with all other necessary documents that needed signatures via DocuSign.  Looking back though, I can't say that I was happy with how the events progressed.  I liked my attorney, but the purchase contract he provided was VERY lengthy, and at the end of it all I had no deal and a bunch of legal fees.  On my next deal, if I were to provide my own purchase contract, I'd definitely have an attorney read it over to ensure it meet's the legal standards of the state.  I don't mind adding to it a little bit, but I'd like for things to be more manageable next time.  

Also, after the contract is signed, my education on what to do next feels lacking.  What if I wanted to buy a rental property without a realtor or attorney?  Are there any resources for learning how to do that?  From electronic signatures, to the step-by-step processes?  Most educational resources out there seem to go from Step A: Make an offer to Step B: Inspections to Step C: Close on Property and start managing.  Leaving out lots of details in the middle.  Ultimately, I'd like to be very knowledgeable about every step of the process so I don't drop the ball on something.  Even if I do become more knowledgeable, do I still need an attorney?  Do I need a Realtor?  Can I do this myself if I know the steps?  I realize all of this probably varies state by state, but if anyone can't point me in the direction of some really good material about this stage in the process I'd be very grateful!  Any other advice is welcome too!  Thank you!