All Forum Posts by: Josh H.

Hi all, just getting into the world of foreclosures after building new construction for the last six years.

I have the data mining of pre-foreclosures and auction detail down.

I’m wondering what kind of documents/purchase agreements are needed or work best? 

Also, I know someone who shows up knocking on a door with certified checks for certain situations. Is this common practice to close a deal? 

Any info would be helpful and appreciated. Looking to turn my leads into deals!

Thx 

How many ADU's can you build on the property in this pilot program? Here in Indianapolis, there are situations the city allows the property to have units "stacked" street to alley or back to back to back with courtyard spaces between each.

We also have situations we build additions with a 2 story “breeze way” that falls under the house development standards, but can act as a separate unit from attached carriage house above the garage. 

Hi All,

I build here in Indianapolis and have seen the power of adding doors and cash flow via ADU's (carriage houses) in our market. Our clients typically have a LTR house with no garage or rear structure. They come to us looking to find ways to maximize and diversify their properties revenue potential.

Outside of building ADU's, what are your strategies to maximize property revenues?

Building second stories, additions, or splitting into multiple units? Interested to hear what’s working out there. 

Hi Cullen…sent you DM. Let me know how I could help out. Look forward to speaking with you!

D5 is only single family unless it’s on a corner lot or the existing was duplex. If it’s D8 you can do duplex. 

If you have to build second story, consider doing 5ft knee wall then build roof system to possibly save on costs instead of full height wall system. 

Consider building refinancing and holding, but do so with a carriage house above garage so you can rent out and essentially have 2 rental units. 
 

Hey Jaron...I’d be happy to take a look at it if still needed. 

Paint over siding with asbestos encapsulant paint, foam board or osb over, install new siding 

Or

Foam board or osb over and install new.

Would only worry about any disclosure at sell. 

Wise to get third quote.

Also make sure to ask level of prep/detail each contractor is planning. Ask them what types of houses they typically work on.

I always ask how many days, how many workers will be working or will they be doing the actual painting and how they plan on completing job (ie. roller, spray, spot clean, any sanding, any ladder work, taking doors off/leaving doors on, etc). With this info, I can work backwards to compare their number.

The second quote sounds like the 2 that quoted will probably be doing the work so lower overhead. 

Hey Justin...sending you PM now. 

Thanks for the feedback Greg. If the houses are kept for 5 years as rentals, is that the same structure you’d use? Raising full capital.