All Forum Posts by: Josh Urrutia

60 days from Dig date maybe. But I doubt it was 4500 sq ft. From closing on the land to move in day is going to be 6 months minimum based on anything I've seen. 

What's the exit strategy? F&F, STR, LTR, Primary Home? Cost wise, you're going to be almost always better off fixing it up. The difference especially if its mostly cosmetic, could be $100/sq ft or more. Plus a new build will take 6-9 mos or more. Up front pre-build and carrying costs alone are a killer. If its a total gut, that changes things...but if it's bought right...Rehabbing will likely be your best bet.

I'm late but I second Lane's recommendation. Dividend paying whole life is like storing money in a bank but its your bank. Meaning you don't have to get approval to access YOUR capital. You make your "deposit" AKA premium with NO market risk, NO tax exposure(when structured correctly). The best part is it keeps compounding on the full amount even if you've removed some of it. Guaranteed growth, uninterrupted compounding, and control of your capital at all times. Oh and its still life insurance so someone is getting paid if something happens to you. It does require some education so hit up https://infinitebanking.org/ as well as read the book Becoming your own Banker. Plenty of podcasts on it as well. 

 Hi Rocco, Just curious where you are with finding an agent? I am researching all the different companies as well. If you're still looking the NNI website has some recommendations for IBC practitioners by area. https://infinitebanking.org/ I will say that bigger isn't always better. Just means they spend more on advertising. Good luck to you. 

And all of these responses are precisely why Hard Money is a joke. 40% down just to get in the door so you can pay 13% interest plus a few points for all the junk fees. They advertise it’s all about the deal…blah blah. And yes you’re right, they will all pull your credit and it will take a hit. 

Plenty all over the Midwest. Depends if you are looking strictly cash flow or needing appreciation as well. Some areas obviously better than others in that regard. But forced appreciation through mortgage paydown and rental price increases can't be overlooked. So while it may not be a 1% property now. It could be in the near future. 

If using HML better plan on offering about half of what you were going to offer. They don't tell you about all the costs initially. HML will chew up your profit faster than anything. Even termites. If its between HML or wholesale, just wholesale. Lot less headache and about the same profit. Look up Sam Primm at Faster house in the St Louis area. They will be a buyer if the deal is there.

Wondering what everyone is seeing in terms of multifamily new construction costs vs buying existing. I'm seeing some really good deals on land near me, but have never ventured into the NC world. Multifamily properties for sale are few and far between and the ones that are available are overpriced to make any kind of margins. I'd be interested in starting with a couple 4 plexes to stay in the residential side of things but not sure if building new would cash flow. What am I looking at ballpark for a mid-grade finish 4 plex with 2b/2ba units on one story or two? Any contractors or investors have any experience with this? This would be Central IL, 90 miles south of the burbs. 

Yeah it would be all new ducting. No central air currently. I might have to go that route depending on the bids. Any idea if the mini splits would be less value add than a full system? 

Anyone have experience with New HVAC estimates? Looking at offering on a house but need to bring it into the 21st century and HVAC is on the list. Haven't talked to any GC's yet, just trying to get an idea of what to expect. This would be for for a 4 bd 2 ba 2800 sq ft. New AC unit and ducts ran throughout. I'm planning on opening walls already to replace electrical so that is figured in. In Central Illinois if that helps. 2 hours south of Naperville.