All Forum Posts by: Chris Carollo

Eventually I'd like to sell one of our buildings but keep the rent for a couple years after I sell it.  Sounds weird, doesn't it?  That's exactly what they are trying to do to you in this situation. Clearly this is an example and I would never think a buyer would allow for this..

 Its sounds like you've done everything right. I would push them to complete the deal as promised and negotiated originally including the cell tower. 

I've used John Klunk at Klunk law in Lockport with great success over the past 12 years for all my deals. 

Have you considered looking at your next investment as your primary residence? Much lower down payment required, do the rehab, sell in 2 years and (Or plan on moving) and do it again.  

I don't know your local market but this might be a way(after a couple years) of building a substantial portfolio of property. 

I also use mysmartmove.com and let them know that they will be paying directly to the site. I also have them submit to me a leasing application before I send over the link to them. Between both steps enough self selection happens so I don't end up wasting a lot of time with the wrong tenants.

On paper it seems that it could be interesting but without all the details of the deal a couple questions pop out.. 

1-Are you basing the ROI on the current taxes? Safe assumption that they would change once the deal is done.

2-Are the Dr's office/Apartments rented at market rate? Is there room to increase? Or did the Dr just sign a increased rent to make the property look better?

3-How do these Rental Rates compare to the market?

4-Are you factoring in Commercial Financing due to the Commercial Space?

I think this is a really interesting play from the builders perspective as other outlined above. I'd also recommend that you friend still does a home inspection with the new house. 

@Gerald R -Great question and one that we possibly overthink regularly... Why are doing the improvements? To put on our own stamp on it or to improve the ROI on the property?

I'm +1 on the shutters idea. The plastics ones from Home Depot/Lowes tend to treat me well.  Maybe paint the front doors a contrasting color?

A friend of mine has been building out a web series on different topics and I thought this one might be interesting for other BP Members. He's basically taking the idea of House Hacking via AirBNB to take the revenue to grow his web business. While's he's not working on building out his Real Estate empire with the earnings, he is building a life that he wants to live. Not much different than a lot of us here aspire to.

Hope you all enjoy it!

While I have no experience with plumbing in Texas, it does sound like they are building in some contingency time.  My concern here is that pipes just don't "disconnect" on their own so they might be worried about what they'll see in the wall once opened? Do they need to run a whole new vent stack?