All Forum Posts by: Dustin Verley

Just finished the first episode! Awesome show... straight to the point, brief and not hours long... I'm definitely looking forward to episode 2.

I would also consult your the landlord-tenant code for your specific state. I know in Delaware there's a few recourses, one being the tenant can in some circumstances immediately terminate, without penalty, the agreement. There's also some alternatives such as withholding a minimal amount of rent, or even seeking substitute housing during the duration of no hot water being available.

From my understanding, these essential services, and then landlord tenant code typically circumvent any landlord agreements. Someone correct me if this isn't accurate.

I've skimmed through the thread, so if my post is ruled irrelevant, my apologies.

However, I've seen a few suggestion going for an FHA loan... this is a good idea, but I would also suggest exploring the opportunity of an FHA 203k loan. Of course, just as anything, there's guidelines that one must follow, but typically an FHA 203k loan is similar to an FHA loan in that you can get in a property for around 3.5% down, while also providing the potential for renovations that could increase the equity in the home, to which you could capitalize on.

Now, I've never done this before, but thinking from this perspective could work. If someone who is more familiar with FHA 203K loans can affirm this, or correct me if this is not permitted, that would be great.

Haven't been on BiggerPockets in a while and see I clearly missed a solid gathering. Will stay tuned in to the opportunity of the next event, whenever that may take place.

Nice work! Just curious, do you have any before and after photos of the renovations?

@James Masotti Haven't been on here in a while so I ended up missing this... have set my notifications to email me for any further follow-ups in case any more gatherings are held... hope the turnout was good.

I know this thread is slightly outdated but it has definitely gave me some insight. I think my concern with the whole Sub2 method of creative financing is where the exit strategies are limited based on the types of titles being conveyed. For instance, if I'm not mistaken, typical seller financing is supposed to convey both legal and equitable titles, whereas a land contract/CFD does not convey the legal title until the land contract is fulfilled.

Does this sound accurate?

Looking at picking up a copy of this book shortly... and this post reassured me it will be a sound decision. Thanks Dre.

 Awesome advice... I've always associated the downtown area of Wilmington to be more so an area for young professionals, albeit where you're investing at, as you've mentioned, some areas can be war zones. If I may ask, I know crime rates in an area is only one piece of the puzzle when classifying area, but what are some other things you take into consideration? I normally look at crime rates, municipal investment into said area, employer stability/job creation/income, education, and business growth.

But, I do question whether I'm going overkill sometimes. Any feedback you could provide?

As @Cassandra Sifford has mentioned, I would reference the two books from J. Scott. I've read both and they are great primers. The best way to understand the average cost is get out there and make mistakes and learn from them. Of course, I'd also suggest working with some fix-and-flippers to get an understanding of the process, also finding a GC that can walk some properties with you.

I would say though to ensure you offer some sort of value to the GC in exchange for their time. Doesn't necessarily need to be something monetary but even the possibility of hiring them for your properties could be value.

After a couple times of doing these, you'll have a better understanding of the process... but there will still be variables (labor, materials, your exit strategy also carries weight as well, whether you're going to fix-and-flip to a retail buyer or rent it out.) For instance, you wouldn't put expensive marble kitchen counters in a rental (unless the market supports doing so.)