All Forum Posts by: Justin Hammerle

@Jeff Puciato - If you have not already, Warren Buffett's annual letters to shareholders has some of the best general business advice I've come across.  They are short and sweet and an easy read.

@Kelly Dunkley - You mentioned the lot was behind your yard; is it landlocked? Is there another means of road access without impacting your existing property?  Without proper access and road frontage you could have a worthless lot to a developer.  I would reach out to a civil engineer to analyze the lot for you and make a recommendation on highest and best use.

@Carlos Handler - agree with the sentiment here - sell some properties increase your cashflow and DTI and rebuild.

@Peter Martinson - cashflow, price appreciation, equity buildup, and harvesting.

@Christopher Duron - the lot will need to be subdivided prior to closing, I would first check min lot size and road frontage for building a SFH under the existing zoning before doing anything else. If that checks out I would reach out to a local civil engineer for guidance on feasibility and assistance on the subdivision.

@Brandon Durant - are you putting offers on new MLS listings exclusively? If so, could try adjusting your parameters or switching your focus to properties that have been sitting for a while.

Quote from @Nicholas L.:

@Mason Weiss

@Justin Hammerle

 are there really 500K-1M MFs that people with no experience can easily buy and maintain that will cash flow nicely, at today's rates??  that's a big bite to recommend to someone.

Who doesn't have experience?  The client who invests out-of-state? If you are setting aside "x" amount for equity on a MF that cashflows, that price is going to be contingent on those factors, not some price range that is made up. These are funds used after addressing your personal debt and improving your DTI.

@Kim Hopkins; I would be more concerned about alienating sellers here rather than adding an extra layer of protection.

@Rick Albert - I would pay off all toxic personal debt then look put the remaining in equity of a MFH that cashflows.

@Shawn Patel - What do the mechanicals look like?  You mentioned new A/C, is that a wall unit or replacing a central air unit?  How is the home heated? Old Electrical system?  Sometimes it's what you can't see that will add value to a home.