All Forum Posts by: Luka Milicevic

I am in the process of remodeling a home for co-living. I think I made the mistake of doing the work without getting permits. All the work in the home is completed. We are in the process of converting the garage to bedrooms when an inspector walked in without my permission. he is now asking for permission to inspect the rest of my house. Am I required to grant this request? Or can I refuse and what are the pros and cons of each option? thank you.

Only someone from your county can truly answer this question since every single county, and possibly city has different laws.

What work did you do? If you did electrical, plumbing, hvac and they require you to pull permits retroactively you will need to probably tear into the drywall for them to inspect it.

Do they have any proof that you did work inside the house? How did the inspector enter without your permission? Did he break in? Did he just walk in while work was done? They can do that....

If you're converting a garage to bedrooms, you should probably get a permit for that....

That's not a small job like paint and flooring. You are making massive changes.

1 Vote

Coeur d'Alene, Idaho

Quote from @Mary Jay:

Hi guys,

So I need to paint the balcony (the floor of the balcony, people stand on it) with a special coating that is water proof. I had a handyman come and he said the roofer has to do it. I called the roofer and he gave me an estimate of a 3k to apply that coating.

What kind of coating is it?

I guess it should be reapplied every few years or so to make sure the floor of the balcony stays water proof...

What kind of coating is it? That's the question I have for you that you should ask the roofer.

How big is the balcony?

Sounds like a lot but not sure how prices are in your area.

0 Votes

Quote from @Joe Si:

What are your favorite areas for buying new duplexes and 4plexes? Do you know of any builders offering discounted interest rates in those areas?

Discounted rates offered by builders work the same way 50% off sales work.

Double the price and then mark it down 50%.

Builders offering reduced rates through their lender have insanely high origination costs that make the loan the same or less appealing than one without a discounted rate.

0 Votes

I'm not a lender so can't really speak to what is happening, but it doesn't really surprise me....

investors make the same mistake EVERY cycle "it's good now, it will stay this way forever"....so let me buy this deal, at this rate, with these numbers thinking the market will remain the same way until the end of time.

NOPE

Doesn't work that way.

I'm super low risk, always have been. I'm not leveraging much at all and staying at the mid range house pricing.

1 Vote

I love hearing these stories. Congrats on everything. Great journey, great story.

1 Vote

Jersey City, New Jersey

Quote from @Gabriella Landolfi:

Hi all, I'm looking get some information about buying an investment property in Nashville with a possible partner (family member).
-is this a profitable area?

-is an LLC the way to go

-surrounding areas to avoid

-what is the process like for renting, finding renters, is Vrbo and Airbnb the best way to go?

-is now a bad time to buy?

It's great that you are getting started. Based on your questions You need to do a ton more research.

Profitable area? What does that mean?

LLC-Depends

Surrounding areas to avoid - depends on what you're trying to do, but no there are no areas I would say to specifically avoid.

Process for renting - Read some books on this one. Airbnb best way to go? Depends on what you're trying to do. Yes and no.

Is now a bad time to buy? Depends on what your goals are and what you're trying to achieve.

My suggestion is spend a ton more time on reading the forums, listening to the BP podcast, reading books, attending real estate meet ups.

0 Votes

Let me know about the hard money loans

Rates, points, term, etc.

1 Vote

Nashville, Tennessee

Awesome story. I'm in the Nashville area myself.

Let me know if you're investing locally.

0 Votes

Nashville, Tennessee

Quote from @Darian Hampton:

Hey everyone! Im new to BP and excited to connect and engage in discussions here. Theres a wealth of information on this platform, and Im eager to dive in. Im also looking to connect with investors who are eagerly searching for their next project. If you have any favorite forums or valuable tips that you've found especially helpful, Id love to hear them!

Welcome to the forums. I'm active in the Nashville area as an investor and agent.

Join REIN, be active in the forums, attend the meetings

Good luck out there.

0 Votes

Nashville, Tennessee

All Forum Posts by: Luka Milicevic

Luka Milicevic has started 49 posts and replied 2516 times.

Post: Looking for Boots on the Ground – East Nashville Flip Validation

Post: Question unpermitted work

Post: Balcony floor water proof coating (roof type of coating? )

Post: Best areas to buy new duplexes and 4 plexes

Post: What We Are Seeing In The Non Performing Loan Space

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Post: New to all of this - looking for advice

Post: Best Hard Money & Bridge Loans - Miller Mortgage - Nashville, TN

Post: Health to Wealth: My Transition from Stethoscopes to Real Estate Investing

Post: NEW to BP & Looking to Connect with Investors