All Forum Posts by: David H.

they're are deals if you want to go se on the green line or ne towards md. In nova you'll have to go to

^ under $15k.

buy a used Lexus. It's not that expensive, and it looks good enough. No one gets turned off by a Lexus. German cars carry haters. Same with American cars. Toyotas and Hondas don't get the same respect.

you can buy a used is300 in good shape for $25k, very affordable.

Let me know if you want to get into the new Orleans market.

first and foremost, sounds like you need to make friends with Chris Roberts if you already haven't. He can kill a deal if enough residents protest your project. Where is said land?

Anthony, how did it work?

I don't think first look was designed for newbies. It was designed to get local governments and owner occupants into the home to stablize neighborhoods. The idea is that a homeowner or community group would invest more into the home, whereas the investor is trying to maximize profit (which could often mean minimal improvements).

With that said, I don't think they're doing the discount for owner occupants anymore. I remember they would open it up first to government agencies and non profits, then owner occupants, then a free for all.

The short answer is yes, you could probably be in a position to pay the $10k fine if you really wanted to sell. I highly doubt you would go to jail for the one infraction, that is even if you got caught.

If you start a ring of deals where you recruit a bunch of buyers to pose as owner occupants only to flip and pay $10k fines about a hundred times, then I think you might risk jail time.

So, to answer your question, yeah, you could probably buy it with the "intention" of occupying it, but then shyt happens, right? Your job moves. Who is anyone on BP or a neighbor to criticize you for selling or renting your home because of "extenuating" cicumstances that make it problematic for you to generate cash flow? If you get caught renting or selling too early, then just own up and pay the $10,000. Just have a good story about how you couldn't keep it.

For those on forum worried about getting bid up, this isn't really a scalable strategy. You will run into an issue doing more than one every two years, since they actually do check that you didn't buy one from them recently.

When it's all said and done, just hold it for a year and then sell it. You will get a tax free gain anyway if you keep it for two years.

Man, this is a good quality building that could be a home run with the right mix of tenants. I like the idea of bringing in an accounting firm. Did you sign naming rights so they could put their name at the top of the building? Some other ideas would be call centers if you have access to reliable telecom. First floor should have at least a cafe or subway. You could put that in at first then maybe find someone else later.

the advantage for this building is the location, which is not "great" meaning it could be a way for a company to lower cost. You won't have people knocking on your door to move in, so you would need to cold call and prospect for tenants.

I think hiring a photographer for $250 to deliver great shots can definitely help with the marketing side.

I'm not sure what you paid, so I can't comment on ROI, but there's a good turnaround opportunity in this.

Adam, let's be honest.  That ad is terrible.  Are you kidding me?  You have more photos of urinals than office space.

Do you have a sign on the building? If the city allows it, you should hang a sign that says office space for lease. For a building this size, you should have a professional marketing budget. Create a website, hire a team of creative designers and a team of brokers who can find tenants (not brokers who list on MLS and wait for leads to come in).

The building looks solid.  It might be worth cutting a deal with an anchor tenant like a local employer (bank, medical facility, school, think and be creative).  They get a deal they can't refuse for 2 or 3 floors.  That creates activity and stem the bleeding, and you make money on the rest of the smaller units.