All Forum Posts by: Paul Bealefield

Drop a line when your in town!

Hey Tim Thanks!

What I did was get a "Vacant Property" coverage. Its pricey in my mind but I can cancel it at any time.

Thanks again and Happy 4th!!

Hey Peeps!

I just picked up a 4/3 with 2800 sq ft on a construction loan and she needs a full remodel. I am working on the permits and insurance before I close on July 3rd. What kind of insurance do you recommend? My agent is recommending a "Builders Risk Policy" This just doesn't sound right to me. Any help would be greatly appreciated!

Peace
Paul

Christy Gilliam Listen to podcast 21 with Jerry. He details this process for you.

http://www.biggerpockets.com/renewsblog/2013/06/06/podcast-wholesaling-marketing-jerry-puckett/

Peace
Paul

Buy this!!!!!!!!!

http://www.biggerpockets.com/flippingbook

The information is priceless!!! There is nothing like it......

David Ray Moreno I think your best bet is to get into a house/duplex/4plex that needs carpet and paint. Nothing too drastic. This will get you learning the process of buying and rehabbing. Ask questions thru this process.

As for the private financing, it is going to take time to build your resume. REI is a fun and stressful adventure. Keep your day job and build your night job. When you have the deals under your belt the money will come.

Peace
Paul

Hey guys thanks for the advice. I'm gonna have to let this one go. The seller wants too much for the work that needs to be done.

Peace
Paul

Suzie B. The zoning is R2 allowing for 2 residences on the single lot so that shouldn't be a problem.

Thanks for the info on the utilities. I will get quotes to split it this week.

As for rents the top would be a 3bd 1 bath unit renting for $1,300 and the basement after remodel would a 1 bed 1 bath with an open floor plan renting for $900. Rental units here are in short supply and renting for top dollar.

Thanks again for your advice.

Hello Everyone,
I have read most everything on BP and listened to all the podcast to date but never posted anything.....so here goes.

I am looking at a 2300sq ft house in a decent neighborhood that has a completely unfinished basement. It already has a back entrance into the basement so I was looking at turning the basement into an 1 bedroom apartment.

So my question is should I split the utilities?

Has anyone turned a house into a duplex and knows what the headaches will be?

Newbie Investor
Paul