All Forum Posts by: Jay Barndt

Hi hi Joshua congratulations on the 3 unit under contract I am located up near State College Pennsylvania and use Advanced Disposal for all of my trash pickups it runs around $80 per unit per quarter. Once in a while it is more depending on the amount of trash they put out but I have it contracted to charge back to the tenants for excess garbage. I used to use waste management and they are almost matched for Price the difference for me was Waste Management would miss pickups and would give me the runaround on the phone more so Advanced won my business.   You could also call them both for a free quote on a dumpster rental since 3 units are in one place it may work out better financially I'm not sure.

Best of luck! 

Jay B.

@Karen Polis 

I see what you are saying. that map site is very different from my county. i am not sure if there is a simpler way to view the property lines without obtaining a surveyor map from your county courthouse (may cost a few dollars) they sometimes have them available on a website but its not very common.. PA Is a bit behind the times with tech..  i wish there was more sites available as well for getting property lines but those are the only 2 ways i know of to get the lines. 

#1 county GIS map. #2 county courthouse surveyor maps

it took me a while to navigate my counties site and map but i have it working now.. 

best of luck.

Jay B.

Hi Karen, 

I'm I'm not sure how you're county site works but I know the Centre County tax site has a GIS map that you can do just that,  you can see each property outline and tax ID with the satellite overlay.

I just Google centre county tax assessor and it takes me to the site and just click on the GIS map and find your property.. FYI the map can be tricky to navigate.

Maybe Google search your county tax assessors site.

I hope that helps. if I knew what county you were in I could maybe help you find it. 

Take care.

Jay B.

I tried 3 local banks for a heloc but my credit and the debt to income ratio is both working against me but I've already sold everything that is not a necessity..  the whole system is setup for the banks and gov to make money off every day people.. have not considered a contractor negotiation for a cut.. I am willing to explore any possibility. 

I appreciate your input @victor s. 

@Eric H. Thank you for your response yes the purchase price is correct it was a auction property that was forgotten and fell into repository at the county everyone just turned a blind eye to it. The rents in the area don't make sense on the math it works way better as a flip with the way the area is changing, and Yeah I thought everything was going according to plan up until I had deed in my hand ready to go and our local REI meetings are a joke for the most part.. I have done full rehabs with my own hands and it takes far too long with working a full-time job it's easier just to pay people that do it for a living they will do it better and faster.. I had a few lenders looking at my deal before I picked one I'm trying to revisit them to see if there's still interest I want to make sure I have 3 or 4 backup plans this round..

Hi BP community! . 

I have been doing REI for a few years now and have always been with either friends or family and not always gotten the best deal out of it. so i deiced to keep pushing forward and get my own business going doing what ever i can to get profits coming in to snowball my investing into a bigger animal repeating processes. this was starting to look up. i found a property through word of mouth, found a private money lender to fund my rehab and all seemed well. (but Murphy's law showed up) 1 day after signing the deed my lender calls telling me hes being sued and is out of the lending game.. "sorry good luck." so here i sit with a property and no funding. going on 1 month now exhausting every channel i can to get this thing moving. so here is what i have:

Property:  3 bed 1 bath.  in a nice end of town that has been coming back to life for years and doing well.  C-B class area.

Purchased: $785.00

rehab est: $55k (including Murphy's law)

ARV: $95k-$110k (based on 6 comps)

Timeline est: 4-6 mo.

i'm just asking if anyone has an idea i could implement or a lender or interest in funding this project to help me get my business moving during this stall. and before the wolves come out of the woodwork suggesting repetitive things lets cover some of my stats.

credit: 550 and scarred = normal lending out of question.

Friends and family: already tied up in projects or strapped financially.

Partners: Have their money tied up for 2-3 yrs

Cash on hand: $1500 (and dwindling)

Assets: $370k in collateral real estate.

Flip exp.  6 flips with partners and family managing contractors and deadlines -   0 solo 

Wholesaling: would turn to small of a profit and it would be better letting it go back to the county.

so as we can see my odds are not good but i am pushing and fighting tooth and nail to do this because i know i can complete the project and turn a profit i just need the gas to make this thing go.  i am sure im forgetting some info here but i wanted to get the ball rolling in the forums to see what ideas pop up.

Thank you all,

Jay B.

@Eric Griemsmann, Congratulations on your success! way to stick it out and push on for the end goal.  always great to see where others have victory,  best of luck with the rehab and hope to see the end results! keep us posted!  

Jay,

@Zane Bradshaw, i used creative finance to get my newest property by talking with the owner and through a long conversation and 2 trips to the property he agreed to sell it to me with owner financing. 0 down. 0 interest for 10yrs. non recourse no early penalty,  purchase price 80,000.  triplex fully rented with long term tenants  1800/mo total rent.   but to help you with understanding creative real estate i would watch these 2 videos from Phil Pustejovsky. from Searching through BP forums and blogs and podcasts i also scoured YouTube and discovered Phil and his videos have really got my mind rolling in the right direction and gave me some clarity on creative real estate which is amazing when you do not have alot of money / capital to start out.

https://youtu.be/vjjrp6pL7yI

Good in depth educational vid below.

https://youtu.be/lSXGxOiRp7A

i hope these and more of his videos along with BP forums help you gain understanding that you do not need a bank to always invest and as your portfolio grows you will learn that most cases banks are the enemy of investors. and i apologize if this links more videos than the 2 above sometimes its goofy.  best of luck and i look forward to any questions you may have and your future success.

jay.

Hi @Zane Bradshaw While i wish i started at your age, do not get beat down by your position. you have limitless possibilities. you could -get a job to get money coming in and saving. -look into partnering with someone to help you get into the game. assuming you have not debt at the moment could be a great benefit or also hinder your starting. but as far as getting your first property have you though about doing creative financing? maybe call or stop by FSBO properties or call "for rent" signs and just ask if they would consider selling? my favorite type of deal is one that does not involve a bank.. just food for thought. without any REI ground to stand on you could/may have to get creative to get your feet wet. just don't be afraid to hear "NO" from people or make mistakes because everyone does. keep at it and don't give up. best of luck in your REI adventures.

jay,

Hi @Michael Nash Welcome to BP. Seems you have a lot going on and are heading in the right directions very exciting. BP is a great community to connect with other investors, expand your knowledge and find the answers to almost any question that may be on your mind. Again welcome and best of luck in your REI adventures.

Jay,