All Forum Posts by: Brandon Raeburn

This may be state specific so consult your local lawyer. All liens, tax and mechanics stick over here.

The live for free model can be done in any market. Maybe your looking at the wrong properties. Try finding a MF that needs some work, rehab it, increase the rent on it, and repeat. Just because you haven't found the right property for the formula doesn't mean the formulas broken. Find a distressed MF, an owner in foreclosure, MF in the middle of a divorce, you have to think outside the box.

With so many partners in a syndication, would the roi be of marginal success?

Personally I wouldn't buy anything that has less the 4 doors but it's a personal niche. There's no right or wrong when it comes to SFR or multifamily units. It's best to just pick one niche and become an expert in it, then as you gain experience venture off into other niches. You decide your path, but master the path you take. I'll be moving back to NYC and would love to meet your Realtor cousins, check pm.

I'm also interested and have extra links for NYREIO meetups.

Hello Robin, I'm a certified water restoration technician and real estate investor out of NYC and Miami who's also looking at flood damaged homes. I'll give you the good, bad and ugly takeaways for our current situation. First the bad, most banks will not fund the loan nor will most home owner insurance companies approve a policy until restoration and remediation is complete. So you'll need cash on hand or find a sympathetic private lender. Now the ugly, water damage is the least of your worries. Black mold which is more than probable in most situations with severe water damage will require substantial amounts of gutting and sanitation. Anything from a few square feet of drywall to entire walls, flooring, fixtures, and ceiling will need to be treated and or discarded. Then remediation of all mold spores, (which must be sanctioned by a state licensed biologist) using dehumidifiers and antifungal agents to treat the area. The entire process can run from $5k-$100k in severe situations (I've only witnessed one such repair cost that high). Not to mention the rebuild cost that can be anything the general contractor sees fit. Also, certain demolition like removals of load bearing walls will require engineers and or an architect. Now the good, if damage is assessed to be to high maybe the city will give you permission to bulldoze the house and start a new. A brand new house a top your plot will instantly be worth the drama. If damage is low you'll still get a very cheap property from an owner who's very anxious to sell. But remember this person just went through a natural disaster is in a very vulnerable state, please be ethical. As they say, big risks may lead to big rewards. Good luck, and be prepared.

The registered cars should have a name assigned to them. Who's paying the insurance on the car? I don't want to be the bearer of bad news but she may be deceased, incarcerated, or out of country.Try hiring a private investigator or bailbondsman to find her. Sadly, you could try adverse possession but that'll take 20yrs in MA lol, sorry if this doesn't help.

Welcome to bigger pockets Thom

@James Carlson, wow that'll be costly indeed. I plan to be living in one of the units as well because financing will be through a VA loan. These types of loans require you to live in one of your units as a primary residence. Under this stipulation I may allowed to operate Airbnb.

@BenVargas @AnaGarcia @WillBert @MykaArtis

Thanks for the help guys, I knew there was rules that I overlooked. I won't go below my 4-family unit rule. I'll consult a real estate lawyer about the particulars and give you guys an update.