All Forum Posts by: Falon Sexton

@Kevin Martin we have just decided to eliminate the door stoops and shave four inches off of the entire structure. We already acquired a variance to build on 40% vs. the max standard of 35% so we don’t want to push our luck. Thank you for the advice!

@Danny Kay Thank you...I’ll check it out!

We have a 3000 sq ft lot. Total allowable lot coverage is 40%. We have created the blueprints for a tiny side by side duplex at exactly 40%. The city sent permit app back because the driveway ribbons were 2.25ft by 17ft wide and need to be 2.5ft wide by 17ft. This requirement would push the coverage to 42%. To avoid adjusting the entire structure just a few inches, are there any loopholes other than gravel? We would have to apply for a variance if we wanted gravel and at this point we don’t have time to “hope” the board votes yes in 4 weeks time since our construction loan was approved 2 weeks ago. There must be something that we are not considering.

Looking for general info on where/how to invest in REIT's. Is it worth it? Any success stories or big learns to share?

It seems that banks no longer issue construction to perm loans on investment properties. We are trying to build a duplex and have been unsuccessful finding bank funding. We were trying to avoid getting involved with a private investor due to higher interest rates. Any ideas on how to fund the build?

Thank you for all of the info and advice. We are 7 blocks from the beach so the average price per sqft averages $200. If renting is not going to deliver the 2% we could build snd sell. Thanks Again!!! 

New to Bigger Pockets, could you please expand on the 2% rule? We bought the land for $80k but it is currently valued at $125k so we thought the equity in the land alone would contribute to a higher roi. Thank You again for the advice!

@Mike Wood Thank you for the info and advice. We are using all $125k collateral from land to apply towards the $180k build so we will only need to mortgage $55k...monthly payments should be around $600/month.

@Jorge Caceres If you have specific concerns with plumbing, roof or electrical you may want to consider calling around to local companies and have someone come out and give you an estimate on updating/replacing anything you are concerned about.

@Matt Hangsleben one of the best low risk investments you can start (if you haven't already) is a roth IRA. Currently, are only allowed to invest a max of $6k/year. You are allowed to take out anything you put in at any point in time (if needed) penalty free. Any compound interest will be heavily taxed if taken out prior to turning 59 1/2 years old. It is a great way to start another nest egg!