All Forum Posts by: Martinis Jackson

@Nate Sanow @Duncan Hayes thank you both!

Good morning BP family,

What deal finding systems have people found useful to delegate to Vitrual Assistants to find deals, e.g. hire a VA to send out mailings to absentee owners or have them cold call. Where are folks finding competent VAs? Any systems out there that working well for folks?

@Bob Okenwa @Kerry Baird @David Hutson thanks for all your help!

Greetings BP Network: I am reaching out for suggestions or past experiences financing a portfolio of SHFs. I am looking at purchasing 11 SFHs in Memphis, TN, but wondering if commercial lenders will even underwrite this type of transaction. I figured traditional FHA lending would present a number of issues: delays, costs, and other limitations. I welcome all thoughts. Best regards, MJ

Greetings BP family:

Our company is in search for recommendations for reputable GCs (licensed and bonded) in the Baltimore area with significant experience renovating flips and/or rentals. Thanks in advance! 

Thanks @Kristen Ray!

@Jeffrey H. thanks for your response. Luckily, there is a current multi license in place; however, it expires in June. We anticipate renewing before it expires though. Do you recall receiving any rationale for the licensing department not being on board with conversion in an R2, unless you already have the license.

@Beth H. thank you very much, really helpful!

Greetings BP Community:

I am in the process of converting a single family home in Baltimore to a legitimate duplex. I have already confirmed that the zoning is R2, which includes multifamily. I am however concerned about other steps to consider in the process. What is the process for having the property separately metered? Does anyone have an estimate on how long this can take? What are the pitfalls that you have experienced in converting a SFH to a duplex? Below are some of the photos. Any comments and thoughts are welcome (below is a photo of the actual home and a sample of how we would like for the home to look after).

Greetings

Our company recently flipped a home that is now under contract. We are considering doing a 1031 exchange. We anticipate receiving a gross sale amount of around 155k; however, the net profits will not be this much. We need to pay back lines of credit and private money. Does a 1031 exchange mean that we have to take the entire 155k and reinvest it to reap the benefits of the tax free exchange or are we only required to use the actual profits from the sale? If the latter, how is this typically handled with respect to escrow? Thanks in advance!