All Forum Posts by: Chris Merchant

I would step out and guess that you would want to find an appraiser and surveyor that has experience with subdividing land, but I'd guess they would take the 5 acres and figure out how to divide it up to be most profitable and than give an appraisal on each parcel using similar comps.  Do you plan on subdividing and developing or just subdividing and selling lots? 

Not sure the details of the car, year/make/model but you may be surprised at the amount you can realistically get for it right now, used car prices are up pretty high.  But he seems like a smart kid so what does HE want to do with the money he gets for selling the car?  Or here is another idea, if he is dead set on selling the car and you're dead set on him keeping it then you buy it off him and you can then keep it and in 2 years if you want to give it back to him or sell it back to him for what you paid for it or less than do that.  Be a problem solver!

Seems like it is just a way for the city to charge people for one more thing they need to register for.  NYC seems to be the worst nanny city in the USA.

Thank you for your service, as for the cash flowing properties they are there, maybe not as prevalent as they have been in the past but that makes the journey that much more fun.  I definitely recommend sitting down with an accountant and/or tax attorney and real estate attorney.  It is well worth the money spent out of pocket now.

Use this as a learning experience, go to a store that sells new window units and buy a few to have on hand in the event future problems arise.  Seen as they are going to be used solely in the events of emergencies you don't need the best ones on the shelf.  You can probably find a decent one for around 200 ($199 to be exact at Walmart for a 6,000 btu window unit).  It will be money well spent for future emergencies.  Remember we need to keep our tenants happy they are our paychecks.

It seems you're in the right place, welcome to the BP community.  What kind of RE are you interested in?  What are your long term goals with RE?

Seems a bit pricey, but some contractors will charge a fee for giving estimates, these are usually contractors who don't really need the work but if they need to spend time drafting up a quote they feel they should be compensated for their time.  Some bigger companies have people that their sole job is to go write quotes so it is usually how the company will offset their costs of having these estimators writing quotes for people who won't hire them anyways.  The main thing to understand is if you elect to hire the company do they deduct the quote fee from the job, some do some don't but it helps them weed out the people who have no real intention of hiring them.

Best thing I can recommend is be the best at what you do, the more knowledgeable you are about your field the better, learn learn learn.

Awesome, sounds like house hacking may be a great opportunity than. Now it's just a matter of locating the right deal even if you start out with a small multi-family property that you can get for the right price but may need some fixing up, there is the FHA 203k loan too that as long as it is a 1-4 unit property you can buy the property and fund renovations through the loan and it only requires 3.5% down.

Glad to see someone so motivated at a young age, I wish you the best of luck and feel free to PM any questions you may have another book I recommend is Investing in Real Estate with No and low money down by Brandon Turner here is a link to the book.

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