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All Forum Posts by: Mustafa Mo

Mustafa Mo has started 16 posts and replied 41 times.

Post: How to take over on an occupied auctioned property

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

Hi,

I recently put a SFH under contract from auction.com property. The property is occupied. I have few questions:

1) How can I set an inspection before closing? I know I bought it AS-IS but just for HM lender.

2) Do you let your PM to reach out after closing and check in the situation either a new lease or eviction?

3) if eviction: can a PM manage this or do I need to hire real estate attorney?

Note: the property is located in STL city MO.

Post: Taking a construction loan

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

Hi

I’m looking to get a construction loan to demolish an existing SF in STL and rebuild a new house. What are the options for construction loans in STL, MO? Do I need to find the architect who is going to design first or do I need to find a lender?

I want a company/contractor who can do all designs, get permits from the county and help me with the docs for getting the loan? If any worked with a trusted contractor or architect in STL please share it with me.

Thanks all.

Post: Demolition cost for 1k SFH

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

@Perron Riley this is very helpful. I will do that then.

Post: Demolition cost for 1k SFH

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

Do you recommend to remove the basement or just to demolish what is above ground level?

Thoughts? Also, if you have any certified contractors in saint Louis area let me know.

Post: Demolition cost for 1k SFH

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

I have a 1K SFH that is stressed property and needs to be demolished completely. How much does it cost on average per sqft?

Do you remove the basement and the foundation too. What are the pros and cons of just demolishing the house and later removing the foundation (if needed) when you start new construction project?

any tips are welcomed.

Thanks

Post: Total demolition for a SFH in STL

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

I bought a SFH in STL city that requires a total demolition. I'm looking for a recommendation for a demo job and a builder/contractor to provide redesign construction plan to be a duplex. Any recommendation is greatly appreciate it.

Post: What is a fair amount to get started as a syndication sponsor?

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

@Amy Wan very useful tips you posted last. Thanks a lot.

Post: Could not find a fixed rate HELOC for a rental?

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

@Bob Okenwa thanks

Post: What’s the best way to cash out equity

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

@Greg Scott thanks for your insight. I will check this out.

Post: Do you hire a project manager for remote projects?

Mustafa MoPosted
  • Rental Property Investor
  • Redmond, WA
  • Posts 44
  • Votes 4

Hi,

I have a out of state rehab SFH property where I have other rentals. Since this property requires a complete rehab? Demo and rebuild, do you hire a project manager? Or do you hire a general contractor who deliver a turn key?

How much do you pay a PM, if he is just going to deliver a key or meet at the property to look at things? no planning work.

Thoughts are greatly appreciated.