All Forum Posts by: Darius Burke

I will say it is only renovations and not a completely new construction. So would that still fall under construction to permanent financing?

It will be my wife and I's personal residence. So we would be over seeing and operating everything. 

Good afternoon BiggerPockets,

I have found a property in North Carolina that I am wanting to turn into a wedding venue. I am having trouble trying to find a way to finance the property and renovations wrapping those into one mortgage. Hopefully someone here can help me with some way of figuring out how to finance this property. 

Thanks for your help

Darius

I would look at weddingvenuesforsale.com and inshopper.com. Hope that this helps as I am also looking for a wedding venue. 

Hi I am interested in this property. Is there any other information you may possibly provide? Like price acreage of property other buildings are property etc. Thank you very much. Have a wonderful day!

Good evening. If you are available please send me a pm of what they are looking for in an outright sale. 

Thanks

Darius

Good afternoon. I am writing in response to this post and am inquiring about this property. We are very new to the process but are looking for a way to increase our cash flow. So please feel free to contact me at your earliest convenience. 3173399555. 

Thanks 

Darius 

Well I did do it myself in terms of putting in the can lights running wire figuring out junction boxes etc. I did get the baffle light and housing all for $35. I am meaning $50 for the supplies only not the work. They then were going to charge me for the work on top of the supplies. No I was meaning $1000 dollars for the panel itself the breakers etc. That was not including the work needed for it. They wanted another $500 for that. I am all for people making money if they do the required work and do a good job. Let me tell you figuring out electrical is difficult sometimes. I though am not ok with people trying to take advantage of someone. I am sorry if my words led to a misunderstanding. All the money figures were for supplies only not work. They were going to charge me for the work in addition to the supplies. So I found a contractor willing to put in the panel that I picked up and tried to figure everything else out with the help of a friend. Got a nice lesson about electrical. Haha. 

Hello. I just bought my first rehab house and it will need everything. So I too am wondering about materials cause on a rental unit I had to have a new electrical service put in...the contractor was wanting to charge me $1000 for a 200 amp service panel $50 per complete can light etc. I went to my local hardware store picked up the service panel for $145 and $35 roughly per complete can light. For me it was kind of a shocker that someone would want to overcharge me like that. Another area is kitchen laundry and bathroom cabinets. I had someone quote me $9000 for cabinets for a kitchen then $3000 to install them. I got the same exact cabinets for $5500. I guess I must have just been unlucky and kept getting contractors that wanted to take more than their fair share. I agree with you Bob Okenwa I just can't blindly take what a contractor is willing to bid on materials especially on finished products. Rough materials I can almost understand but that has just been my experience. 

Needless to say that is my sob story time to move on...

So when you are upfront with them on what you are thinking it should cost in the realm of reality contractors are willing to negotiate?

Hi I just completed my first remodel on a property that I own free and clear. It has an appraised value of $144,000 before remodel. I am looking to either rent or sell this property, whichever makes most sense. I am looking at starting an event venue. This property I am wanting to purchase for the event venue is zoned mixed use between residential and commercial business. I am trying to search for some sort of lending on this property. I am unfortunately getting the,"we don't lend to start up businesses." Can any of you possibly help with trying to figure out how to get financing or who to go for. I am looking at possibly close to $425000 after renovations. Thank you in advance.