All Forum Posts by: Mark Chieda

@Jacob G.

I doubt there are many rules against advertising, but- why would you? I’m not a private lender, but it’s in the name “private”. If I were a lender and I put a big ‘ol billboard up saying “call me for some money” - do you think I’d be up to my ears in BS calls and scammers?

IMHO - The reason you don’t see people with money to lend advertising it is because they are more savvy than that. They network, they know people that will get them good returns, they have their preferred places to put their money.

I’ve been working on locating Private Money for a while and am only now being given a ‘maybe we’ll talk’ response.

@Salvatore Lentini

Funding! I have less that stellar credit, so no bank. Im relying on Hard Money or Private Money, so I need to find amazing deals... the local market is a sellers market and difficult to find deals that will work. This being my 1st deal, I’m not comfortable doing anything out of state.

Found out a great property is listed as a Historical Site. What has worked for all the BP listeners in the past?

What questions should I be asking?

Tips or advice?

New investor looking for other investors in Tacoma to network with and learn from. Gearing up for my first project but my inexperience is showing.

Thanks in advance!

@Jameson Sullivan

Have not confirmed - MLS has zoning as Multi-Family. Finding a contractor that can handle a job of this scope is something I need, regardless of the specific deal...

@Jameson Sullivan

Vacant group home/assisted living space.

50 bed with mix of private and shared baths. 24,000 sqft. Want to subdivide into apartments.

Can anyone recommend a great contractor in Tacoma to convert a building into 10+ units?

What is the possibility/likelihood that personal debt could be attached to a flip project as a lien? How can I be sure to avoid such a scenario? Thanks!!

Honestly? I'd ask a tax attorney. They'd know your liability risk and legal strategy to minimize it.

In answer to your questions, it partly depends on the student body in general and on the type of tenants you want. I don't know Baylor; is it an expensive school? Are the students coming from wealthier families? If so then they will probably have cars, so the time of commute becomes a convenience. Even 10 miles away is only going to be a short commute. On the other hand, if students don't tend to have cars, then closer is better; or something on a public transport line. Regarding neighborhoods - if you are ok renting to men, then a well kept property in a dodgy neighborhood is ok. If you prefer female tenants (I recommend them, they tend to take better care of your property) then you want something in a nice neighborhood - someplace not-scary. Hope that helps!