All Forum Posts by: Matthew Moreau

@Gino Barbaro Do you guys bill a flat rate or do you use a variable RUBS calculation? We've had trouble collecting using a third party RUBS system. We're thinking about going to a flat rate and keeping it in house. 

For list building purposes, does anyone know of a service/subscription that you can input an address and it tells you the percentage or range of equity? I've been manually checking for equity via public record but it's a mundane task that I'm hoping to expedite ASAP. 

Hello,

Does anyone have a drywall contractors they could recommend???

I have a property located in Tampa in need of drywall repairs, patching, and texturing. I'm looking for someone that has integrity in the work they do.  I'm in a bit of a bind so any and all leads would be greatly appreciated!

Thank you!

Thanks, I'm confident in my research. I always triple check my numbers before moving forward but that was my thought as well. It's counter intuitive but I think it's the right way to go. 

I'm closing on a HUD foreclosure tomorrow that I will be rehabbing. It's a 3BR/1BA 1926 Bungalow in FL. I bought the property in the low 70k expecting a 40K rehab with a 145K -155K ARV.

I've debated about turning it into a 3/2 vs a 2/2 . The immediate thought is to turn it into a 3/2. DUH! 

However, a couple thoughts make me think otherwise

The home is small (1,065 SF) 3/2 standards. I would have to add the 2nd bath by enclosing a portion of a utility room that butt's up to the master bedroom. In addition, one of the 3 bedrooms is small by modern standards. 

The second point is that the area is marketable to a 2/2 buyer. It's an artsy, hipster, area that's experiencing gentrification. The reason I bring that up is that most of the people that will be purchasing in this area won't be looking to start a family. The rehabbed homes are being purchased by young urban professionals which will likely have less of a use for a 3BR. 

I pulled the comps and they were virtually the same. The after repair value came in 4K higher for the 3/2's

The question is, would you rather have a spacious 2/2 or a slightly cramped 3/2 ? What are your thoughts BP ?

I'm interested in green building design as well. I will be sure to share any information I come across. I suggest you set a green world alert in BP to notify you when green is discussed. 

Thanks Adam! That's where those W2 jobs come in handy!

Thanks for the responses! 

FYI Ali, I love your blog!. Keep up the good work!

Hello,

I've been following the BP community for years. This is such an amazing community, kudos to everyone. I'm reaching out to ask for unusual advice in this community. While most are asking if they should quite their job or not. I'm looking for advice on the best career to transition into.

My Situation

I'm 28 years old and hold a BA in Political Science. I've worked in real estate for most of my professional life as a property manager, Realtor, investor, and acquisition analyst for private equity firms. I'm interested in real estate from the personal investment perspective but being a traditional residential Realtor doesn't excite me. 

I just got back from a month trip backpacking Europe and currently face a transition phase in my life. I've thought about a couple options moving forward...

A) Increase my skill set via graduate school and work within a passion. I've been accepted into a Urban Planning Masters program. I'm passionate about urban revitalization (Imported From Detroit) and think a lot of skills (land use, zoning, feasibility, demographic studies) will relate to real estate down the road. However, a 2 year 20K commitment is nothing to sneeze at. 

B) Find a new W2 job that can provide stable income and allow me to max out on rental properties with traditional financing. My thought is this path will generate additional passive income streams that can be a springboard for launching my own business down the road.

C) Start my own company now and continue to bight the bullet as Realtor until I get the business (e.g. property management, fix and flip, development) off the ground.

My long term goals are to build a rental portfolio that provides $5,000/Month in passive income streams as well as build a sustainable development company focused on urban revitalization. 

What are your thoughts? Your valuable insight is greatly appreciated. I have a great deal of respect for this community.