All Forum Posts by: Lamont Chen

Some of the ones I am looking at. Texas, Florida, and Nevada.

Good luck!

Oil Tanks suck and remediation can cost more than the cost of the home depending how bad it is. I have tank sweepers mention how they find oil Tanks underground which have leaked for slow long onto other peoples property.

@Ben Edgington

You can try joining Facebook groups by searching any of the below and try to connect with wholesalers. In these groups there are almost daily posts (not sure if those deals are good).

1. [Your State] Wholesale Group

2. [Your State] Real Estate

3. Wholesale Group

@Neil Narayan

Joe Rogan now Elon. Nice! Definitely going to help the market there.

@Yang Zhuang

4 family renovated can probably go between 1 to 1.5 million (depends of  the area, number of bedrooms per unit, age, etc.) in Bergen Lafayette. Always room to grow for real estate.

Fee free to DM me if you would like to chat about the general area.

@Kelly San Martín

Here has been my criteria for the properties I have acquired so far:

1. Are there any properties in my area which make sense to purchase and house hack? SFH with roommates or 2-4 family.

2. Are there close friends or family whom have moved to a state I could potentially be interested in investing? They can provide local insight as to where good cash flowing or appreciating deals may be.

3. BP and other vendor articles on top XYZ places for cash flow, appreciation, or both.

Good luck!

@Jessica Brennan

Without an inspection you would not know if there are any foundation issues with the house which can be costly to repair in addition to any vandalism from the tenant refusing to move out. Also since you cannot gain access it seems like these potential costs could fall in your court.

@Shawn Good

Not sure how much you own on the property (LTV) but lenders have LTV limit thresholds for how much you can borrow with a Heloc.

If you bought the home recently with a FHA or VA loan and the appraisal came close to the sales price then you probably cannot get a Heloc.

@Steve Burt

Asbestos is not really an issue unless it is disturbed during renovation or demolition. Prior to any of these activities a professional can come to treat the material so that it does not become airborne where the real issues arise from inhalation.

@Marcello Di Gerlando

I am thinking it may have a slight impact to the higher end STR side but I am thinking for the vast majority of airbnb folks it will not matter too much. I see lots of the younger generation staying at Airbnb's more than hotels on the low to med price STRs.