All Forum Posts by: Keith Robinson

Hi Everyone,

Came across this company online and sounded interesting.  Curious if anyone has had a positive or negative experience with them? 

https://www.deepblocks.com/

Hi Aahil, 

The answer is it depends.  I'll speak in really high level terms but if you can provide more detail I can try to give more detailed thoughts. Basically the biggest difference in co-op vs condo is co-op's in my experience are harder to finance. Condo's are pretty easy and move through the "normal" (such as it is) process. Co-ops don't.  You've usually got to work with a local/regional bank who has an understanding of this property type. 

The other big difference, though less so, is condo's tend to be more structured with the CC&R's. The co-ops I've looked at have had just a loose agreement written up by the owners, some kind of low/no cash for common areas etc.  Don't get me wrong I have seen some horrible condo docs too but just in general the agreements tend to be smaller, less structured on a co-op in my experience. 

Last one on this deal is you now have a partner in the building you don't know much about. That shouldn't be a deal killer but I would factor that into the overall risk assessment. 

Good luck! I hope this helps.

 Thanks Chris.  I am actually talking to them about consulting on fund formation/structure vs reviewing. They seem to have a ton of experience and can help avoid some pitfalls  for a first time fund creator. 

It really (really) depends. But if you look at return on use of cash usually fix and flip pencils out as a higher return since if you can find (somewhat) easy in and out deals you might turn the same dollar twice in 12 months which tilts the returns up. But this requires very active management/involvement. 

Buy and hold- moves from very active to active involvement (notice I did not say passive). 

Hello all, 

I am curious if anyone has worked with Verivest with their fund creation consulting offering? I'd love to know someones experience. 

Thanks!

 Thanks!

 Thanks!  I was looking for an automated way to purchase the data so I could scale operations in various cities/areas with a standard execution model.  Sounds like that might not exist.  Anyone want to start the business with me? 🤣

Hi Chris, 

I will cut the baby in half on this one.  Personally I would explore both. 

Personal Line of Credit: will be cheaper no way around it. So probably the best way to go. 

Hard Money: a low LTV deal like this that is basically a no brainer could be good for establishing hard money relationship(s) with someone you'd like to expand with over time.

So straight math: Personal Line of Credit. Possible other benefits could be a harder call. 

At least thats the two sides of the decision matrix as I see it.  What's great is you have options which is always a good thing.  Good luck!

Hi all,

Curious if anyone knows of a data provider that sells Code Enforcement Data in counties when/where available.  California preferred but open to talking to someone who has it nationwide as well.

Thanks!

 Lots of good advice already the only thing I would add is this: if you're looking to house hack and you've got to live there I would make that a factor in the decision making.  If you like the area/neighborhood/location for your personal living space I'd, for sure, make that part of your overall evaluative process.