All Forum Posts by: William R.

@Lisa Casey: I read this entire thread and have felt your pain in the past.  Glad to see that it all worked out in the end!  Did you decide to rent the house on Airbnb, and how is that going?  

@James Masotti: I appreciate your responses. What do you mean by 5/15, 5/20, 5/25 and 10/20?  I understand that there are not many fixed rate options for commercial loans, so when the interest rate resets how is it calculated? 

I'd start by talking to Planning and Design to make sure that you can add that additional sq ft of living space in the attic, because you will have it pull a permit. I believe they use the sq ft of the lot to calculate the allowable finished sq ft. I'd also talk to some banks anyway, just to be sure that your not able to get financing. I'd want to refinance out asap, you can find cheaper money somewhere.

Hey Andrew!  I am just starting out in that area, but I'd be glad to share my limited knowledge.  I'll send you a PM. Best of luck to you!

Welcome! I'm not on here to often, because I do a lot of my renovation work myself. I am finishing up a BRRR deal just south of Churchill Downs and put two offers in this past weekend.

Welcome to the site. I've been investing in buy and hold for over 10 years with a few small multifamily and a few SFR's. I am comfortable taking a slower path as I enjoy my day job. It might make since to HELOC or cash out refinance on your personal residence to have the cash to put into your business. My wife is fairly risk avers, so she would not be on-board for that strategy. I'd also suggest networking with people who are where you want to be. You should also consider talking to local banks about loan option: portfolio, business etc

Sounds like a solid deal.  Nice work on the timeline...Wish I was in the same boat!

An energy company wants an easement thru a property connecting to an adjacent industrial complex. How should this be handled? Could this devalue the property, or should I have an concerns that I have not considered.  This is rural land that will probably be sold in a few years.

Congratulations. There are always unforeseen issues. Keep the end goal in mind and stay the course!

I had 4 breakers that had a red and black wire.  I guess there are two circuits ran off of one four strand wire? The city inspector said that only one wire was permitted per breaker.  He said I needed two pole breakers.  I didn't believe I had room in the panel, so I used double breakers with handle ties at his recommendation.  If I got the wires mixed up could this cause an issue? I'v had several people suggest that it is probably a grounding problem, where should I start to try to figure that out, in the panel?