All Forum Posts by: Account Closed

Just trying to understand the difference. I do deals with all above. I reciprocate and compensate to all the above. I simply find/or others find for me properties to buy for flipping, buy/holds and even other R/E vehicles to gain wealth. I sell and rent most of the time myself. "I am an everything". Not an expert but I do my due diligence and use experts when needed to assess my risk. Can I eliminate all risk? NO ONE can. It seems to me education is the mot important thing in REI and maybe life. BP is an awesome resource for REI but not the only one but a really good one in my opinion. Thank You Bigger Pockets and all those here! "Whatever I am"

Due diligence is best defense. If the home is a "GREAT" deal then get it tested again. Believing it is "Clean" is like believing every home in NJ that received an "Acceptable" mold spore count 1 year ago is good today... NOT!!!! Meth is a bad compound and a esquire/judge/jury would destroy a greedy R/E investor for not getting it tested if disclosed before selling or especially knowingly renting it that might expose the poor tenant to long term exposure.... Just my opinion

Lenin I do hope all works out. Best of luck

I sometimes put an add on craigslist or other websites and actually advertise the anticipated finished project to see if there is interest. I also can adjust price to see where my price point is with ease. I do not give the address but only the area. This works really well to help me determine the rent-ability number to throw in my equation on ROI. About 5 months ago I did this and we got so many hits and I was surprised by the quality of tenants I purchased another property in the same neighborhood and rented it with ease at a very fair price that provides me with the same cash flow as the first. I found out during the the first evaluation the largest Health Care employer was expanding by a prospective tenant so I made moves to increase my holdings in that area. i wish there were more available as these are really quality tenants to which most stay for 3 years at minimum (per their contract with the Health Care facility)

Curt. I do think there is space for properly run family owned hotels/motels but as in most R/E situations planning and execution are key. I believe there are niches out there that can be used to flourish a business.... I do hope you fulfill your aspirations.

It is not that I do not trust. We are all human. I just do my best to perform due diligence on as much as possible. Even honest people can make mistakes. If I suspect I am working with a liar I call them out on why I think so and see there response. If they do a lot of back pedaling I just am more vigilant. If they can explain reasonably I just keep moving the deal forward.. still with vigilance.

Just my opinion

Hi Colleen

Email me info re; The Sandy Property you reluctantly are involved with. Maybe I can help...

Gina

I appreciate the advice. Alot. This might be a project we (myself and or myself and other teammates) can have our very young and mature children work in and on. The Lic professionals I work with are great bus people in fact sometimes to great and they need my vision to see the diamond in the rough. We will investigate this greatly over the next few weeks so expect some P-messages. I must say a group of investors (foriegn) I have worked with 3-4 years ago on residential deals were in the hotel space in Ohio Pa and NJ.

Thanks

Chris,

I would like to keep this post active for now if OK and I will reach out to you as appropriate in private. That said we would want an independent Hotel for this venture (I am involved with and in fact a bit of a control freak) but flexible. I have a strong team of professionals that are also strong business people. Most anything a franchise offering can provide I strongly believe we have the right people in play with the "right" stuff to compete. I have already reached out to the teammates and put forth my idea and thoughts about creative income sources for the property. We have lending sources but I think an expert in the space could afford some insider tips on additional creative financing options. FTR a 20-30 unit building is what we are seeking but again our Bus. Plan financial and end goal parameters would dictate that.

Interested in beat up hotels. Give me some creative financing moves to make this happen. I have access to money but I am frugal so If someone can help I am all eyes to the computer screen and inbox