All Forum Posts by: Jon Allen

Looks great! What were the biggest parts of the rehab? Any unexpected challenges?

I’d leave it. It looks good. When you set aside what your expectation was there’s nothing objectively unattractive about it and I’m sure you’ll have people who prefer it because it’s something a little different than everyone else has.

@Jonathan A. why don’t you just tell her where you get such good deals? Purely speculating but that seems like an implausible reason to undertake the expense and inconvenience of a lawsuit. Regardless, I’d keep the conversation going rather than deal with litigation over this. Best of luck.

One thing is for sure, if this actually proceeds to litigation everyone will lose. The managing member hires the GC who is...himself. There is an inherent conflict of interest and the best way of addressing a conflict is full disclosure, both before and after the fact. The other members are probably suing primarily to obtain discovery - the contract and invoices. They’ll be able to get those even if they don‘t ultImately prevail. So if you want to avoid a long and costly battle just open the kimono and deal with the consequences. If you have something to hide you’ll still be better off that way than getting bombarded by their attorney. The stress and distraction from profitable labor are things you don’t want to deal with. Whether you’re within your rights as the managing member to withhold the information is immaterial in the grand scheme of things.

No one will be able to explain it in this thread more clearly than it has already been explained many times in blogs and podcasts on this site and elsewhere.  Just research it. I'll get you started. https://www.biggerpockets.com/renewsblog/brrrr-buy...

Congratulations on a great deal!  That's a great one to start with.

@Joseph Back are you saying you literally did no work to it and the house you bought for $69,000 appraised for $100,000?

Why is all of Carbondale for sale? Just noticed that there a whole bunch of good size apartment buildings on the market - seems well out of proportion for a city of that size. Anyone with insight on the market climate in that city?

I'll meet you there as well.

I'm in Bloomington also. I'm new to BP in the past few days and I see this thread pop up - that must mean something. I'd be interested in learning where and when the REI meetup takes place.