All Forum Posts by: Joshua Espejo

Hey BP!

I have a small portfolio out in Kansas city, and the things I've always inspected are the: HVAC, Roof, Foundation, Sewer via sewer scope, and Electricals. (Shout out to WNN Properties and Jin Lim!)

I just got my first property in Alabama from a turnkey company and am scheduling inspections. I asked my agent if I could get a sewer scope, and the guy (very politely, and repeatedly) tells me that typically can be seen in the crawl space. 

I am here a bit confused... although, a different market and different climate can call for additional inspections and remove certain inspections that were needed in KC.

What are some typical inspections needed in AL, Birmingham specifically?

Thanks in advance! 

Hell yeah man! I am stoked for you!

Do you have any properties in mind already? Or what about certain zip codes/areas? 

Single fam? Multi-fam? Do tell.

Lee! So great of you to stop by. Thanks once again for your knowledge bombs! I'll add these to my criteria and hold myself accountable to take these into account for the next property.

Nothing is stopping me from pulling the trigger -- I am in contract and pulled on another investor to get the funds going for this one.

As part of due diligence, I always look at BP to see what's being said about a particular zip code. Wasn't seeing too many great things about the surrounding zip codes... but it *appears* zip code is an oasis ... the numbers and statistics on Vestmap (thanks!) support it. Overall feeling pretty good about moving forward. 

After this property, I am moving into 100+ units for commercial Multifamily, with the help of a new mentor who has experience in the space.  For the bigger Multifamily, I will be raising funds and putting together investor packets that describe the deals I will be putting together. I'd love for you to take a look when I have one prepared :) I'll be in touch. Thanks again, Lee! 

Thanks for the rundown, Evan! I'll call a few PM's tomorrow including Rudy, just so I can get a decent idea from a few PM's in the area.

What's holding you back from pulling the trigger brother? 

Awesome bro, thanks for the offer. Would you happen to know this specific area or around it? It seems like its surrounded by D and F areas, but seems to be a safe spot in the middle? I am hoping at least!

Hello BiggerPockets!

I just got under contract for a 6-plex with a reputable turn-key company who is very active on BiggerPockets.

I ran some numbers and used propstream and vestmap to get an idea of the demographic and properties in the area. Everything seemed to check out pretty good numbers wise and in terms of tenant pool.

I've been researching more on the particular zip code of the property in terms of BiggerPocket's opinions on it, and it doesn't seem promising. I want to know where else I can look to vet moving forward with this purchase. Right now, I am thinking of calling property managers to get their opinion of the area... But where else do you go to look online? 

I also did a Google Maps Street View -- there are some run down houses next to it, but also a nice-looking freshly-renovated apartment complex on the same block.

I know this turn-key company is very reputable, so I trust their judgement... I am just concerned with my findings from BP on this zip code.

The zip code is 35205, Birmingham AL if anyone has experience with the area.

Thanks!

Neel,

I think I know which MFH you're looking into! Definitely a "C" class neighborhood, but can be decent if you have a good PM. I am considering MFH in 66102 area as well, but keeping my options open. Ended up hopping into my first triplex recently in KCK in the 66101 area -- Strawberry Hill. Keep us posted if you move forward!

Hello BiggerPockets!

I currently am looking for PML's from my circle of friends. I have opened up investing opportunities to my close friends who I trust and trust me, and also have capital to use. The issue is, one of my friends is from Canada, and I am in the US. 

Does anybody know how transferring of funds can work? I know the IRS will look into this because it will be large sums of money sent internationally... but does anyone know how I can get this to work? Thanks in advance.

Al Ahquin, haven't heard too much from St. Joe in my research. I am starting to invest in the 66101 area (Kansas side of KC), and see deals all around on the MLS! It's just right now, since the housing market is so hot, a lot of sellers are pretty optimistic about their prices.

Also, I guess I gotta give Lee's podcast a listen! 

Good luck to you man! Feel free to contact if you have any questions

Hello fellow dentist!

If you are set on changing layout for a rental, just make sure that you are in an area with rent can support a major renovation like this. From what I know, major floor plan changes would make sense for a flip. Rentals are fine by updating the tiles, floors, and other materials. Essentially a face-lift. Just be sure you're getting the most bang for your buck if you decide to keep it for a rental.

In terms of financing, private and hard money loans are options as well. Just be aware of the costs of borrowing this money and how it will affect your bottom line. Good luck!