All Forum Posts by: Carl C.

turned out beautiful. Very nice work. Sounds like a lot learned for the next one. 

Our town limit is 5 unrelated people living together. There are several landlords who have 8 or 10 in one house. Not worth the risk to me. I want to keep my neighbors and the town as happy as possible so I can keep operating. 

Came across a potential deal today that I'll be looking at this weekend. It's a property with two houses on it. Listing agent says one house is a three family, fully rented at 3650 per month. Second house supposedly needs a lot of rehab. Currently empty. I think it could rent around 1500 after rehab based on comps. She is sending rent roll and expenses tonight for me to review. Any recommendations about things to look for? I've read quite a bit about multi family evaluating and I think I'm prepared but this is a first for me. Agent says financing will be tough because the second house needs so much work. I'm not worried about rehab work but would financing really be that tough? If her rents are correct my rough estimate says the property should cash flow over $1000 per month with a purchase price around 350k and 20 percent down and current rents. What is a bank going to be most concerned about? Sorry for few details but typing this on the app is tough. I'll post more after I look at the expenses and the property this weekend. I'll have to get creative if this one looks good. We still don't have any cash after our last purchase. Hoping for something good here!

Thanks for setting this up Damon. Do we need to sign up anywhere to attend? 

This amazing, it a completely hilarious sort of way. Thanks for sharing @J Scott The video definitely seems like any trailer you could watch on HGTV. Hopefully the other production companies will be more interested in your ideas of how the show should be positioned. Good Luck!

We stopped by one of our houses the other day to check smoke detectors and asked if anything was giving them issues. "well the dryer has been making a strange sound lately". Ok lets go take a look. I go to turn it on and nothing happens. I just replaced this a year ago, but it was used so who knows. I open it up and there was a solid wall of laundry packed into it. So much that it couldn't turn on. So I explained that it wouldn't work if it was stuffed full like that. Lo and behold it turned on after they emptied half of it out. 

@Account Closed Nothing that I've heard of yet, doesn't mean it hasn't happened. There's a BP meetup next week in Manhattan that I'll be attending. Might be a good opportunity to see if anyone has heard of successful wholesalers in the 5 boroughs.

A $25,000 house with a tenant who makes $100,000? It may be true but that just seems crazy. This property seems like a good deal to me but we don't have things like $25k houses around me and something about that makes me nervous so take my opinion with a grain of salt. 

No net loss is not uncommon. Could you look at reducing your wetland impacts then preserving and improving the existing wetlands as an alternative? If you get creative, local agencies may be willing to work with you. Wetland mitigation can get very complicated and expensive very quickly. I've done this through my 9-5 and the red tape will drive you nuts and may not be worth it for a very small project. 

I'm not investing there but I am working on one of the new developments through my 9-5 and I would love to be getting in there right now. Congrats and good luck!