All Forum Posts by: Neal Coppola

Quote from @Joe R.:

Cruising Right Along - Awaiting Sheathing Inspection.  

 Joe - That's awesome progress in that timeframe.  Would you mind sharing who your builder is?

Quote from @Don M.:

Internal lumber and roof sheathing in.

 That's starting to take shape....... literally!  How exciting!  Being in the PNW, those blue skies look nice too.  

Quote from @Don M.:

Block on site, scheduled to go vertical next week.

Updated timeline:
Lot purchase Feb 2022
Permit approvals August and Sept 2022
Hurricane Ian Sept 2022
Lot cleared Nov 2022
Underground plumbing and slab April 2023
Block delivery July 2023

 I commend your patience.  Do you have an idea as to when it'll be completed? 

Peter,

With all due respect, those are very detailed and complicated questions/scenarios.  I would caution in using advise from anyone other than an attorney/CPA/1031 intermediary.  Having said that, I too am in Camas and wish you all the best.

Neal Coppola

As an investor whom is under contract for a new build with Delta Build Services that was brokered by Rent to Retirement I received correspondence from Rent to Retirement asking if I would like to join a private discussion group administered by them.  In doing so it would require the signing of a release.  I'm curious, has anyone whom is under contract signed the release and joined the discussion group?

 With all due respect, you would really benefit from hiring a property manager.  Based on your question and responses you could get yourself into expensive and/or sticky situations.  You can always learn from your property manager as you go so that you're better prepared to take over management later.  All my best. 

I don't recall the LTV, however I just did two OOS HELOCs on NOO properties with Consolidated Credit Union.

Investment Info:

Condo buy & hold investment in Flagstaff.

Purchase price: $178,000
Cash invested: $46,000

2 bedroom / 2 bath condo near mid sized college campus.

What made you interested in investing in this type of deal?

Cost of property was very reasonable in the given market.

How did you find this deal and how did you negotiate it?

MLS and used my real estate agent.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Lightly freshened the property with a coat of paint, new window coverings and a deep cleaning.

What was the outcome?

New tenants paid $150 more per month in rent.