All Forum Posts by: Charles Williams

Robert, I am not familiar with that program.

Hi Robert,  yes that is true.  The City has to inspect your unit.  I think it costs about $50.  You should call and set up the appointment soon.  Sometimes it takes them up to a week to get you on the schedule.  

Charlie

Hello BP gang. Sorry I don't post often. Very busy with day job as a pharmacist and with early morning, late night job of being a real estate investor. My wife and I are 2 of Justin's investors in this deal. I have only met Justin once at a meetup he organized. This is what enticed me to invest in his deal. 1. Meeting him face to face and seeing how excited he was about real estate. 2. I knew exactly where he was investing (my home town) and 1/4 mile away from one of my apartment buildings. 3. I saw the management team, Doud Realty which is located 1 door down from one of my other apt buildings. 4. and this was the kicker. Once I saw he had Matt Faircloth as his mentor, who I see posting videos all the time on BP I was convinced this would be a good deal for us to invest our Self-Directed IRA funds into. Like I saw in a previous post to this post, tell everyone and anyone what you are doing. You never know who will be interested in what you are doing. Justin to you I say great job, thanks for reaching out to me, and make me proud with improving this property and making my City more beautiful. P.S. Next time you are in town let me know. Also I want to meet Matt F. Peace Out.. Charlie- VA

Hi Christian. We are selling one of our duplexes located in Portsmouth. It has been a good rental for us. We are now investing in small apt buildings. Its on the MLS, zillow etc. 1934 Holladay St P-23704. Check it out. Good cash flow.

Thanks Jeff.  I believe you hit the nail right on the head.  I currently have 2 bank lenders each with multiple loans.  The current lender hasn't given me a definite NO yet, so we shall see.  However if they do I have a third lender in the wings.

Thanks for advice. @Sam @Brian @Andrew.  I have other bank choices and will start reaching out to them.  

Hi All.  When you go to do the refi cash out are people using the same bank?  Reason I am asking is because the 6-unit building I want to do a refi on,  the lender is giving me a hard time.  I have a total of 77 units.  They state over my entire portfolio my Global Cash Flow is below their standards.  I have a total of 3 loans with this particular credit union with a total of 25 units.  23 of 25 units are rented.  All 6 units in this building are rented.  Overall 68 of our 77 units are rented.  I don't really want to switch lenders, but will if need be.  I thought lenders  look at the property you want to refi not how every property you own performs. What would you all do?  Keep trying to work with this lender or find another one.   

Thanks for any advice. Charlie-VA

Justin, congrats on 40 unit building. I invest exclusively in Portsmouth. My partner and I have a total of 77 units here. Anywhere from SFR to 16 unit building. I would love to hear more about this 40-unit deal. I have lived here my entire life. If I can be any help to you give me a shout. I would be up for meeting Thursday evening. Let me know details.

Charlie

Welcome Kyle.  My company only invests in Portsmouth.  We have 14 properties now.  Three of those are in Port Norfolk.  Sounds like you are off to a good start.  Keep it up.  

-Charlie

Hi Brandon,

Sorry to hear about your problems.  Good luck with trying to chase down the owner to pay.  I'm dealing with a shady Seller myself right now.  Hey, I only invest in Portsmouth and know the area pretty well.  Where is this 4-plex located? and who was the seller?  Maybe I will know them.

Charlie