All Forum Posts by: Clayton Smith
Clayton Smith has started 15 posts and replied 86 times.
Post: Looking for local investors in Tuscaloosa, Alabama
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Originally posted by @Brandon Montgomery:
@Clayton Smith Can I get in on this knowledge sharing?!
Sure. I am happy to help.
Post: Looking for local investors in Tuscaloosa, Alabama
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Originally posted by @Connor Woods:
@Clayton Smith @Brandon Montgomery Clayton that’s awesome! I’d love to talk to you and get some knowledge about your rentals! I worked construction for a year before real estate and me and my girlfriend have ran some numbers on the local multi families but doesn’t make sense for us so we looking for more fix n flips or single family off market!
Absolutely feel free to send me a message.
Post: Looking for local investors in Tuscaloosa, Alabama
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Hello all,
I also live and invest in Tuscaloosa. Market is red hot right now and there is very little on the MLS that doesn't get scooped up by non investors or the bigger pocket companies. But there is a few deals to be had if you keep your eyes open. I am typically a buy and hold investor but I have flipped my last few project because prices are so high right now. Also wanting to build a war chest for my first multifamily property.
Brandon if you can get the 3/2 behind midtown that is a great area. I own 1 house in the neighborhood and am wanting to get some more. Not sure if you have heard but they are building a new bridge that will go over the railroad tracks and connect campus and come out on 15th street right in front of the Taco Bell. I believe this will make Forrest Lake that much more desirable for students. It would be a great place to start your investments. If not I would be interested in purchasing it off market.
If you are still looking I have a few things that I am looking to 1031 exchange and trade up on that might meet your criteria.
Post: Popcorn ceiling in a fix and flip
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Originally posted by @Ryan Nolan:
Thank you both for your advice I appreciate it
I have a flip that I am painting and saw you question on the popcorn ceiling. Did you remove it? If so do you think it was worth the cost?
Post: 85% LTV or more HELOC on Investment Properties
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Originally posted by @Kerry Baird:
TD Bank is my go-to, followed by PenFed. Not sure the percentage they will go, but there is extra risk in the market, specifically for investment properties and 80% may be what the market will bear.
Thanks. I will check them out. I agree it may be hard to find over 80% but with my equity an extra 5% LTV is another $48k in credit so I am going to try like hell first.
Post: 85% LTV or more HELOC on Investment Properties
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
I am looking for a lender that will give me a HELOC of at least 85% LTV on my investment properties. I up to date appraisals on all my properties within the last year. Is there any banks that offer this?
And yes I have called around to my local bank / credit unions. They are only willing to do 80% at the moment.
Thanks
Post: Architect cost relative to project budget?
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Originally posted by @Cody Anderlini:
Hi All,
Thank you for creating such a positive place for people to educate themselves, it’s much appreciated! First project here, bought some industrial property in cash about 60 days ago. Since the I have had it cleared, soil work done, survey done, civil engineer is almost complete and I am looking for an architect. I have received quotes that are all over the board, ranging from $11,000 - $54,000. The project consists of two steel structure buildings, 19,200sq’ total space. Curious if anybody out there has a general rule of thumb for how much an architect should cost relative to the total project budget, or any other data driven way of keeping subs honest?
I don’t believe it’s as simple as “you get what you pay for.” People see a 28 year old trying to develop property and are quick to have their hands out. I don’t mind paying for the right service, but I’m not a fan of leaving money on the table either.
Cody,
I came across your post and am wanting to do the same thing in my area. Where you able to complete the project? If so do you mind if I ask a few questions?
Thanks
Clay
Post: I own 0.5acre industrial lot in Glendale, AZ. Cash flow ideas?
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
in my area there is a good demand for secure parking for peoples campers/boats.
Not a big area but you wouldn't have to spend any money to start.
Post: Multi family in Haverhill
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Wow that sounds like very good terms for a commercial loan.
Post: Multi family in Haverhill
- Rental Property Investor
- Tuscaloosa
- Posts 88
- Votes 38
Hi Todd, I am looking to purchase my first multifamily. Just wondering what kind of finance options you were able to lock up on your deal?
thanks