All Forum Posts by: Sky Mikesell

I personally like the look of texture on the walls.   When i invested in Portland, Oregon most houses out there i worked on all had texture so a smooth wall was never a consideration. 

I now live and invest in Charlotte, NC and when i did texture on my first rehab in charlotte i had prospects walking in asking me "what that crap is on the wall"  .... needless to say most of the houses in the price point i was dealing in in Charlotte had smooth walls..

I still prefer the look of texture but do smooth walls for all my properties... a chef cooks what is ordered not what he likes to eat :)  

Hello Rod good to meet my name is Sky Mikesell  i based in Charlotte North Carolina. 

I will share my experience with hard money ...

HM has helped me get into many many deals that i would have never been able to get into without it. 

The costs i became accustom to with most HM lenders was 12-18% interest only payment, 65% LTV (which needed to include the purchase price and the renovation cost)
Most HM lenders did their own valuation (appraisal) of the property i was interested in. 
During the construction phase they would release draws on the construction work as work was completed which means i fronted a little money for the work and then would call for a draw. 

As years have gone by i have moved into a warehouse line of credit and have a few private lenders as well.   

One thing i appreciated about HM lenders early on in my REI career was if the deal didn't make sense they would not loan on it which more then likely saved me from buying some bad deals due to my inexperience.

good luck and happy investing. 

that is awesome @Joshua Dorkin    and the experience here is already great... this will just further enhance the experience and create a platform for users to interact. 

thanks for continuing to make this better. 

well done @Jay H. 

Welcome to BP David 

you will find a wealth of knowledge here. REI has treated me well over the years and with your diligence i have no doubt it will do the same for you.

i agree with everyone above. 

1. Yes lease is your guide.    Situations like this seem like a good time to instill in  your tenant some good common sense and how you would like them to behave as a tenant. 

2. As Daniel mentioned above the last thing we want in that drain in drano. If you or a plumber does have to come behind that it is no fun and that crap wrecks your pipes if left sitting in there. 

Great Post Joel!  

Hi Patty , nice to meet you, my name is Sky Mikesell

 great question...  

my feelings on this topic are simple. 

1. If you are going to be flipping houses YES get an llc to protect you. 

2. If you are a buy and hold investor it is entirely up to you. If you are a doctor or own more 4 properties then an LLC is probably a good idea.

There are a lot of great places these days to set up LLC's ,Wyoming is always a top choice amongst investors... as Eric mentioned you will still have to deal with your great state of california.

good luck and take care, 

Sky Mikesell

i have very limited experience in that price point but have seen it done as an auction format... 

or a more practical method would be to connect with agents who work at the high end firms such as sothebys. 

get a real estate focused attorney involved to get the siblings out cleanly and get the property into your name or your llc whichever you decide to go with.