All Forum Posts by: Caleb Stephens

Terrific podcast! Hal and David’s stories are very inspiring. I look forward to reading the book.

Welcome Deanna! BP is a terrific resource and great place to connect. Good to have you here.

Welcome to BP David! 

This was a terrific podcast! Excellent content and format. You guys killed it! This might be my new favorite.

Hi David, That is a pretty common situation. I like tile in the kitchen and transitioning to hard wood can be very nice. The biggest thing to consider is to make sure you have a natural transition spot for the two surfaces to come together. Good luck!

With regard to my deal, we're still working out the details. The seller is very interested in OF to defer the capital gains tax. This is the building where my office is located, so I know the owner pretty well. He is 65 and looking to downsize his portfolio. 

The building is about 45% vacant and a bit tired, but his asking price is as if it's full at a 7 Cap. I am going to offer a 7 Cap at current NOI, with 10% down. If he doesn't like that, my counter offer will be to split the difference between asking and offer price and 12 months before first payment is due. This will buy me time to do the TLC necessary and fill the vacant spaces.

Yes, I did. Sorry, I'm new to this forums and working from my cell phone. I'm not sure how to deleat that. I also wanted to edit the title of this post, but it didn't look like I could. I could only edit the body of my post. 

Hi @Carl Hebert,

Thanks for the welcome. 

Flipping in Freeport was terrific! There's very limited inventory so we had a bidding war. I listed the property at 3PM on a Tuesday afternoon last May, and had 2 full price offers by 9PM and it was under contract for $7,000 more than our asking price the next morning. There's nothing for multi family here in Freeport. There are a few around, but nothing for sale. I have to look elsewhere. 

Thanks for sharing @Jim Goebel! It's a beautiful home. Sounds like you bought it right. That's a nice way to work it for both you and the buyers. 

You said it was "owned under IRA". Is that through a self directed IRA?

Thanks for sharing @Jim Goebel! It's a beautiful home. Sounds like you bought it right. That's a nice way to work it for both you and the buyers. 

You said it was "owned under IRA". Is that through a self directed IRA?