All Forum Posts by: Justin Hammerle

Also like to add if you have not already try to subscribe to a credit reporting service so that you can view your credit score and all the components of it.  They also notify you when your credit score changes and why so can you keep tabs on how you are impacting your score.

Sean - I assume rezoning the land to campground use will not allow you to build a SFH on the property correct? I would check the zoning regs to confirm. If that is the case you are somewhat forced to subdivide the land to allow for the SF construction.

If you are renting your apartment, I would first check to see if your lease agreement allows subleasing, if not that kind of stops you right there.  If it does allow you to sublease - you need to check in with your local town/city to confirm whether or not any type of licensing/permits are needed to operate.

Generally no.  There are some exceptions, see below link p8-13:

https://www.hud.gov/sites/docu...

Your on one now, you could use the BP calculators. They usually give you 5 free reports before you need to upgrade to a paid subscription.

Hi Jerod - given your circumstance if I understand it correctly; I don't think you will be able to qualify for any type of bank financing.  Your options are really limited to seeking financing from family/friends or from private sources.  There are limited options for private financing that allows borrowers to occupy properties.  If your goal is to acquire another property while renting out one and living in the other, rather than moving out of your existing home perhaps just buying a small investment property to rent is the path of least resistance.

Keeping an old existing property on the land is likely to impact your total density.  I would first determine how much density is lost by the existing building versus building a new single structure.  based on that, make a decision on whether to keep it or raze it and redevelop the entire parcel.

Hi David, connect with an experienced contractor you can trust; just note that in this business risk will always be present regardless of your experience.

The BP famous BRRRR strategy is something to consider and study if not already which takes into account both equity appreciation and cashflow. I believe the idea that a fixed up property will cashflow better is not always true, generally you will be buying at high prices and will likely have to dump a lot of your own equity in order for it to cashflow.

Hi Ace, do you have any local agent connections?  Local agents who work with other investors are a great resource to get referrals for equity/debt partners on deals.

Nice deal!  Also really like your approach and strategy here with having essentially two business lines one supporting the other from a capital and risk standpoint.