All Forum Posts by: James Smith Moore

Welcome to BP! Let's connect I'm here in Texas as well.

Hey Aaron,

Thanks, I appreciate the advice. I started leaning towards that way as well. The amount she owes is too great to really do anything else but short sell it.

James

Well that's the obvious answer...I know I could short sale it- thought there may have been another alternative which I believe there is.

Hey everyone,

I'm a realtor in Metro Detroit and I have a client who is looking to sell her Detroit home in decent neighborhood. The home is upside down owes $54k on it, it's probably worth about $30k. The home does have a section 8 elderly tenant in the home who has been paying for rent for 20 years.

Any ideas on what I can do here, it would be nice to take it off her hands maybe assume the note?

Any thoughts and ideas are greatly appreciated.

Thanks!

James

Elio Levy that would be cool knock down some of the dry-wall make it into a hookah lounge or nightclub. I guess it boils down 2 a contractor checking out the space giving estimates on the cost of repair for pretty much all the systems in the space.

George P. I don't know much about it but I'm connected with some experts in the field and know how to bring the right people together to make something happen as far as contractors, investors etc. I have experience with general business, that can be applied to a project of this size. I just wasn't sure IF there were any proven RE investment strategies for capitalizing from an abandoned building with little to no capital. I'm thinking not many strategies now other than fixing the entire building and renting it out the right way.

George P. It's in Detroit in a great area of midtown detroit. I have no clue on how much it would cost to get it rentable. :(

Thanks Bryan Hennen I was going to raise funds based on the idea via online crowd-funding and maybe some additional investor funds if needed. I like the loft idea- I just won't want to put $500k into the building since we don't own it. We would sign a 10 year lease however.

Hey Bigger Pockets,

So I'm looking at an opportunity in Michigan. The building is a 6000 sq ft warehouse that is gutted from head to toe no electricity, plumbing, heating/cooling etc. It's a well structured building with a good foundation that has about 8 (800 sqft) rooms, 2 bathrooms and tons of storage between two levels

The entire building is only $800/mth. I've heard of investors changing the use of a building to increase it's value or to monetize. Any ideas of what I could do here with the condition of the warehouse. I was thinking either storage, photography or painters studio. I just feel there is some money to be made here with a 6000 sq ft warehouse that is $800/mth in a GREAT location Downtown near college campus

Any ideas, thoughts or concerns would be greatly appreciated.

Thank you for your time

J

My plan was to get my license, gain credibility in the RE space and begin investing. So far so good. I'm gaining momentum and experience by selling Real Estate that will surely help launch my Real Estate Investor career.