All Forum Posts by: Von S.

Congrats, that's amazing and inspiring! Where are your units located? How much did you put into your first deal and second deal? At what #unit did you use money solely made from your other deals and not out of pocket? Thanks!

Thanks Antoine. I haven't looked into that and am doing it now. Have you used one before? So far, the one I looked at is lending just to partnerships, LLC, Corps. Do I have to legally form a partnership before asking for a loan? Is there any Hard Money Lender that lend to individuals?

It seems like both the FHA 203k and the streamline loans are only available to owner-occupying properties. Any ideas?

Has anyone needed to fix up a foundation recently? What was the work scope and how much did it cost? Thanks!

I think telling close work friends is fine but not your boss or anyone who decides your promotion/raise for two reasons: 1) They might think you're unfocused 2) They don't think you need more money via raise/promotion.

I've seen It's a Wonderful Life over 20 something years ago while in grade school but was too busy reading a book to pay attention. However, as a landlord I tend to be more like George but striving to be more like Mr. Potter as I get more serious about REI. It's like anything else in life-- most people are nice and normal and don't want to take advantage of you so being George is fine. However, there are a few bad apples who really try to take advantage of everything so that's when you play Mr. Potter. If I could do everything over again, I would start out as Mr. Potter and then after knowing how people are, be George on a case by case basis. On the flip side, I've had renters who pay late (they always pay in full) but are the most grateful tenants and I enjoy my dealings with them and I've had renters who pay on time that are just horrible and entitled and I dread seeing anything from them.

Thanks @Michael Pallotta, I'll keep you in mind! We're looking pretty much everywhere within an hour's drive of Boston. The seller from this weekend accepted another offer. Property was in Lowell. We'll keep on searching. Our agent is pretty good but I think she has more experience with regular homebuyers and she seems to be in high demand. We gave her our criteria-- any foreclosures/short sales around 100k--- but we're been the one to bring her properties to look at instead of the other way around. I don't know if I'm asking for a unicorn and being unrealistic or if she prefers something that will have a higher commission.

Thanks for the information, John. The danger of collapsing is what we're also finding from our google research. We don't have access to a carpenter unfortunately that we can run the estimate by. I'm wondering if we should hire one just to get his advice before putting in a bid. It's amazing you were able to do what sounds like a quick fix. I wish I had a good team in place too-- I've tried but it's been hard finding good consistent people who are available.

Thanks for asking, Paul. It's above ground and wood. Interior walls look to be horse-hair.

Not sure where to post this question but what does it mean when the exterior walls are bowed? Has anyone dealt with this? What could be the reason and what is the fix? The bank said there is a roof problem, not sure if that's related. We haven't seen the property yet but things are moving fast. Thanks!