All Forum Posts by: Felix Sharpe

@Jared Yates Hi Jared. I am an attorney, an associate at my firm. I'm also an aspiring investor, having had my first deal fall through unfortunately. But this is not a plug for me. I work with Cliff Ashburner, who has one of the best reputations in the city for "dirt law." Here is his profile:

http://www.dinsmore.com/clifford_ashburner/

Let me know if you have any questions.

Thanks,

Felix

Hello all,

My question is simple - what methods should I use to determine the best price point for a unit? I've researched apartments.com and have called area apartments to determine rate ranges. Just wondering if there is anything else I should do. This is my first property and the first time I'm attempting to price a unit.

Thanks,

Felix

Thank you for this post! I was just about to ask the same question.

Hello BP,

The questions are ultimately, (1) how do I attempt to acquire this property and (2) what will bank do next? For background, I came across some tall grass on a property that would do well as student rental. It's right next to a law school and a community college, in addition to being walking distance from downtown and the night life. I reached out to the property owner and was advised that they were deeding the house to the bank in lieu of foreclosure. The owner put the property up for sale for maybe a year, but just sat on the market, so it was deeded to the bank.

The bank acquired the property in November for about $120,000 in an area where I'm not sure if its worth $80,000 (which is probably why it didn't sell). So I'm trying to figure out, how I could take this property off the bank's hands. The bank has not yet put it back up on the market. My instincts tell me write the bank a letter, just as I have with other neglected properties. 

Anyway, any suggestions on what you think I should do would be greatly appreciated.

Thanks,

Felix

@Chuck B. Gotcha. Thanks.

@Donta Busch Thank you! @Mary Davies Ms. Davies, in your area Dan Gilbert is buying up everything downtown. 

Hi BP,

I'm preparing to close on my first deal, an owner-occupied duplex.  With this one almost done, I'm looking to forward to finding the next opportunity.  I believe that may come in the form of commercial office space. That leads me to my question - WHY IS THERE SO MUCH VACANT COMMERCIAL OFFICE SPACE? I'm starting to notice it everywhere.

In downtown Louisville, there are several prime spots that are vacant in highly visible/heavily foot-trafficked areas of downtown - namely Main and Market Street. If anyone has any theories, please do share. @Clay Smith @Brett K. @Chuck B.

Thanks,

Felix

@Chuck B. as always, thank you friend. @Dan Wallace @Rick H. Thank you both for your words of advice. Seller financing had not entered my thought process when thinking about the project. That would create much more flexibility. 

@Latravis Brazil I was there (Gene Snyder) today working in bankruptcy court. I usually park by the White Castle over there. I've seen the building before, but I actually stopped to look today. I'll have to stop by to introduce myself next time I'm there.