All Forum Posts by: Kristen Ray

Hello BP!

I purchased The Book on Rental Property Investing by Brandon Turner via amazon and audible. Throughout the book @Brandon Turner makes several references to documents found on BP. However, I am unable to locate those documents. Can someone please help?

@Alfred Edmonds @Kelly Page @Account Closed 

Great discussion!! I love the feedback! Recently, I had a discussion with one of my agents regarding finding reliable contractors. Her advice was to get one who could pull a permit. However, I was not completely sure what she met. Thinking of past personal experiences on my personal residential properties, I have had extensive work done and not once has any of the contractors mentioned a permit. My background is in medicine so I had little to no experience with contractors outside of the work I had done to my residence. Thinking back to all of the rooms I had built, decks added, electrical work, finished a basement etc and not once did anyone mention a permit.  Thus, when the realtor mentioned pulling a permit I didn't understand why it was so important. You all did an excellent job explaining the importance of obtaining the necessary documents prior to the work being done. I will consider myself lucky that my previous home improvement projects went over well.  As an investor I will read up on the required permits for the towns I plan to invest in. 

Y'all are awesome! Thanks again

@Stephanie P. Thank you for the information! I will google these organizations and see what I can find. One of the (many) keys to success is surrounding yourself with like-minded people. I fully embrace that concept and look forward to networking and getting to know other REI like-minded individuals.

How would the city/town know that the work was done without a permit? How/why would they be alerted to any necessary repairs (i.e. pluming, electrical and other major repairs) on a residential property?

Maybe a rancher

Sounds like you got a good deal. The only potential negative is that the sale of that house may be used as a comp for similar homes in the neighborhood. However, if several homes in that neighborhood have sold at true market value it shouldn’t have much of an impact. Congratulations!

@Jon Holdman Thank you for that explanation it was extremely helpful! You did an excellent job with the example you gave as well I appreciate it 

Hello BP flippers & Company,

Recently I was advised to hire contractors that can "pull a permit." What does that mean? Please share.

Kind Regards

@Account Closed How are you able to use your business to purchase properties in states other than Maryland? What additional paperwork is required prior to buying properties in a state outside of the state where the business is registered?

Hello Pro BP!

We are new to REI. We are in the process of setting up our LLC in Maryland. However, we intend to do business in Washington, DC as well.

Does anyone know the process of buying, selling, flipping houses in Washington, DC with an out of state business? I know there is additional paperwork to file (and prob a fee to pay) but I am unsure of where to look for that information. Does anyone have a link to such information? We are new to the business world but eager to learn and take action.

Best Regards,