All Forum Posts by: Jeffrey K.

The bank is not involved other than to say okay to payout on closing. It would be the seller or you would have to change the price because of damage and get bank to okay it.

Alcohol and evictions are hereditary. If they can't find anyone else to sign who has not been evicted that is a problem. Most people can't find the extra money.

if the arv is 30k and you have it under contract how much repair does it need? Even a place in good shape could have 5k in random little stuff that needs to be done. How much are you looking to make?

The best way to learn the costs is to be the general on your first job. If you are a wholesaler just BS the costs because investors with cash will not listen to you anyways. If it just needs minor stuff tell them 15k if it looks bad tell them 50k. Please don't waste contractors time because we are trying to make a living also.

Where is the guy with the castle when you need him?

Build to suit is not what you think it is. It is when you have land and are willing to build a building for a tenant to their specs for a long NNN lease.

What you are talking about is very common in real estate. You should have connections with companies or you can apply with your site to large companies or national franchises. You can often get their required specs on their website or from their real estate department.

I am not sure you have enough money to start a hard money lending business that I would be comfortable with. Too much risk even with guys who are good.

I too like a NNN or a larger building for you. Talk to a local commercial broker and then come back and post some deals so we can talk about them.

I would buy a larger project. If you buy a bunch of small stuff it really costs you to drive around to fix stuff at all the SFRs and duplexes.

You only chance to get a loan on this would be through the bank that owns the property.

What is public besides hall lighting? With a $200/mo that has to be water heater and boiler? I don't know what state you are in. That would help.