All Forum Posts by: Account Closed

@Justin Schreibeis I would call city planning department too like @Kenneth Garrett mentions to confirm the status.

@Demetrice Black Hi Demetrice, is your intent to buy it and turn it into a duplex to rent out if zoning allows this? In that case I would run comp. numbers to see what you could get for rent for each half. Keep in mind your costs to get it rent ready if its currently a SFH will be higher if you have to do a lot to separate the house areas.

@Claudia Mora hi Claudia, welcome to Bigger Pockets. If I was in your position I'd first put some time into understanding all the different ways you can invest in RE (buy and hold, flip, house hack, small multifamily, wholesaling, etc) to make sure I understood the basic strategies and commitments of each. I would listen to some podcasts each day on your selected strategy and also buy a few books. If you decide on flipping, The Book on Flipping Houses (Jay Scott) is good.

Then its about getting your finances/planning up to date and making sure you are in the best position to act on deals that pop up. As far as finding those deals - make as many connections as you can in the real estate community and understand how to analyze the numbers to determine what is a good deal. Best of luck.

@King Dada Hi Damahri, best advice I can give is to really engage in the BiggerPockets forums as well as sign up for their webinars to learn more. Once you figure what real estate method fits best with your goals (buy and hold, fix and flip, wholesaleing, etc) just focus on learning everything you can about your that method. Best of luck. Feel free to reach out if you have any specific questions.

@Cody McVay Hi Cody, Congrats on the house hack! I think since everyone understands the current COVID situation, a simple but thoughtful note introducing yourself will work wonders. Introduce yourself, explain how they can best contact you and try to set a positive note going forward. Best wishes.

@Dan V. Hi Dan, I would not spend $3,800 to repair that existing deck. I would tend to agree with @Will Fraser in the landscaping route or get a quote to rebuild a new deck if its not much more.

@Ben Johnson to add to Andre's comment, maybe try calling around some local banks / credit unions and see if they do portfolio lending (ie they do not sell off their loans but loan their own money). Maybe if you can talk to an asset manager, tell them what you want to do they can give you some guidance and build relationship from there whether you need LOC or loan. They also might have some REO holdings they want to unload. Just throwing out some thoughts.

Trying to xfer a property into an LLC I think means you'll have to close again which has its costs. Not sure if that always needs to happen though.

@Veronica Tello Hi Veronica, I may be interested in this if you are still looking for participants.

@Jordan Voitus Sharing what I put together if it can be of use. I use my buy and hold spreadsheet to run multiple purchase price scenarios on a property and to compare different properties easily.

https://www.biggerpockets.com/files/user/JustinS374

Don't disagree at all w @Mark H. Porter though. It comes down to some simple numbers in the end when looking at what to target it on.

@Kevin Turano Hi Kevin, after looking at this quickly you'll want to bump up your vacancies and repairs. 1% is much too low. Also I would go conservative on your timeline - without knowing all the work a month still seems short. Hope this helps