All Forum Posts by: Colin Spivey

@John Teachout

Why?

@Andrew Postell

I am in a smaller town called White House about 30 minutes north of Nashville. When I found bigger pockets, their conference had been had the week before, so I was very disappointed that I had not found this resource earlier. The only event I have been able to find is a multi family investing meeting that is being held in January in Nashville and I have thought about attending just to network and for future knowledge. As of right now, I am not aware of any other meetings near my area.

I am not looking to flip this house, but I feel that BRRRR'ing a property is pretty similar. I have an abandoned property that has been abandoned and vacant for at least 5 years. It has central heat and air, has a metal roof, an unfinished basement that gives the opportunity to add lots of value to the home or even convert it into a duplex, etc. but it has been obviously squatted in, the carpet is ruined, there are no appliances, bath tubs/showers, toilets, etc. in the house, will need some drywall work, and one room will have to be treated for mold. It is owned by a property management company and I have thought of contacting them to see if they are willing to sell since it is only sitting there and has been for a while, but I need to find a ballpark figure of my rehab costs (as of right now I am thing $60,000). How would I go about a more internal inspection of the water and electricity is turned off? What other things do I need to pay close attention to in an abandoned house? Has anyone been through a rehab of a property similar to this one? Thank you in advance for your response

@Andrew Postell

Yes it did, thank you. I will post this into the rehab forum. Unfortunately there are no local REI clubs and I have not started one. I'm not really sure where or how to start one locally and how to attract people to come.

@Aaron K.

I am going to ask but I don’t think that this management company will want to mess with turning the electricity and water back on.

@Bill Brandt

Thank you for your advice

@Dennis M.

Thank you for your input, I will definitely discuss that with my lender

@Chris Coleman

It is not a bad neighborhood. It is a more rural road but only two miles from the interstate and the nearby town. Many of the neighboring properties are A class properties with a few B’s around. It is only a potential property I am looking at right now, but my lawyer recommended 3 or 6 month leases for the sake of if I had a bad tenant I could terminate the lease instead of renewing thus preventing an eviction. I am thinking I will reach out to a property manager and get some advice there too. Thank you

I have an abandoned property that has been abandoned for at least 5 years. It has central heat and air, has a metal roof, an unfinished basement that has potential to add a lot of value to the home, etc. But it has been obviously squatted in, the carpet it ruined, there are no appliances in the house, will need some drywall work, and one room will have to be treated for mold. It is owned by a property management company and I have thought of contacting them to see if they are willing to sell since it is only sitting there and has been for a while. How would I go about an inspection if there is no water or electricity? What other things do I need to pay close attention to with an abandoned house? Has anyone been through a process with something similar to this? Thanks in advance for your response

@Bjorn Ahlblad

Thank you for your advice