All Forum Posts by: Blake Novotney

Make sure you each have some skin in the game (your plan sounds great with him spending $250k on materials and you financing house) so that way it is in everyones best interest to show up and get to the finish line. Let us know how you end up formally doing this whether LLC or partnership I am also curious what others think some of the best strategies are.

Hey Chris! Wilmington is a fantastic area to be in with all the growth in and around here. I'd love to chat sometime, or catch you at a meetup here! If you search Wilmington Investing you'll find a couple of good Facebook groups locally too. Looking forward to connecting!

Does the neighborhood allow ADUs? That sounds like it may be your best bet, the cost will depend on finishes of course but that money is a great portion of what it would cost. 

So, from this post I am gathering that nobody here uses video doorbells.. seriously? That seems like rule #1 for safety of your property and even the tenants as well.. 

The "nest camera" is just the brand as compared to a ring doorbell. Every STR I have ever seen in my life has a doorbell camera here.

@Matthew Perez I would look into the hardwired camera to avoid that, it's what I plan to do for my primary residence that is going to become an STR when it's done.

Wow, that's a pretty sweet situation. Agreed with many others on deciding if cashflow is worth it vs cashing out. I would personally try to cash out if it's nearly $1M of equity and invest it into something else less demanding.

My favorite clients to work with are investors! Like mentioned above, here on BP is a great place to start. Check and see if you have a BiggerPockets meetup local to your area and go network your butt off there and in all the meetups you can find near you.

I haven't met a home inspector who is willing to give quotes for the items they flag, could turn around to bite them in the rear. Definitely start making friends with local contractors and other investors will be your best bet until you get comfortable doing a ballpark on your own. Keep looking, great contractors are out there!

As others said it sounds ridiculous, and he is 100% all "talk" over a $200 dispute it would be insane to go after any legal repercussions. I wouldn't treat them different from any other tenants. Lawyers have been some of the toughest people to work with for me (I'm sure it's not always that way).

I know that lots of people like myself travel that way to Deals Gap (Tail of the Dragon) also. Like you mentioned having something tailored to bikers, I think a lot of "car" people would appreciate a themed STR. Something decked out with cool car/motorcycle decor, garage or carport parking etc. Just a thought!

Sounds like you caught the real estate "bug" LOL

Seriously that is awesome though! House hacking is life changing for sure, and a great way to kickstart your investing journey.