All Forum Posts by: Tal Perry

@Ralphie Hernandez i recommend you check out the YouTube channel "nomad capitalist" alot of helpful tax saving strategy and information for long term planning

I have a buyer trying to purchase one of my flips

The BRRRR is freaking him out the most because of having to claim the income costs as his kids head into college. For their expected family contributions for college costs - the main indicator of what we will contribute is their income and all is included before deductions.

Can someone explain this a little better? Thanks

when it comes to construction work, you can have it good, fast, or cheap. Pick two.

If you want it fast and good, it won't be cheap.

If you want it fast and cheap, it won't be good.

If you want it good and cheap, it won't be fast.

Not all bids are equal. If some guy is going to show up with a crew or professional carpenters, give you top material, and warranty his work...that bid will be different from the guy that shows up with a couple people he just picked u from Homedepot and cheap materials.

Get more than one bid, also try to learn as much about the contractor and maybe check out some of their work. See if you can get reliable client experiences from previous clients.

Sometimes its not all about the money. Sometimes you want to be sure than the company wont go out of business in a year. You want to be sure if something goes wrong 6months down the road, you can expect it to be fixed.

Sometimes the customer experience is also important.

and sometimes its all fluff. For example, My phone and your phone could be the same. But one says Apple and the other says Tracphone. One cost $1200. and the other is $100 from walmart.

Try to figure out what it would cost you to do the job yourself, if you purchased all the materials needed, maybe hired one or two skilled labors, how long it would take you and add 10-20% markup. You can probably get your job done with 10k if you self performed it. But to get someone out there to deal with your wants and demands, and back his work, pay guys and also be responsible for any mistakes, they will probably put an easy 5-7k profit on top. 

@Steven Lowe couldn't have said it better myself. That is so so true. You can only pick two. Decide which is most important to you

Hello fellow Biggerpocketers ;)

I'm thinking of starting a Airbnb Co-Host Service. The reason for this is I'm really experiences in hospitality and real estate. I have a background in construction remodeling and rentals but lately a lot of people have been coming to me for advice on how to setup their Airbnbs and just property management related problems that I've been able to help them solve or show them ways to basically squeeze every dollar out of a property through the service.

So Ive been considering to put myself out there in my local market to help others co host their property and basically manage that aspect of the check in and check out process, updating listings, dealing with guest inquires and dealing with cleaning staff. I think 10% is fair plus my cleaning fees.

However, I'm also worried about "the headache" of dealing with unrealistic home owners. I dealt with this a lot back when I was a contractor helping renovate property and i'm just wondering if I should expect the same thing from long distant home owners or whatever. Just want some advice from others in this field and input about how to structure contracts etc etc.

I own my own airbnbs and rental properties but not i the current market i just moved to and felt that this would be a great way to sort of jump start my real estate business here locally while I begin to looking for properties to invest in for myself.

What do you all think?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey guys I just ran some numbers on a wholesale deal I currently have under contract in South Florida and Would like some input. If you can review the information from bigger pockets as well as my google Attachment that shows my "exit" Strategy. I want to know if this is a good deal or not to a potential buyer and just want various perspectives and just want more of an educated understanding of this piece of real estate. Thank you.

Comps/Exit Plan/ Photos/Videos Google File Drive

@Bill S. Hey which company do you recommend for all three checks?

@Brett Goldsmith how do I find out what type of loan it was?

@Davido Davido thank you for responding. I didn't consider adverse possession. I need to look into that further.

Hey guys. Have a new situation that I haven't dealt with before. Located a vacant property and also located the owner. Owner walked away many years ago, declared bankruptcy, but loan owners never completed foreclosure as loan constantly resold. He owes, according to lender, much more than worth. Completely dilapidated after 10 years empty. Loan has been sold multiple times. Most of it is unpaid interest, penalties and late fees accumulated over about 8-10 years.

How should I attack this? I was thinking short sale? But would prefer something quicker. Maybe some of you have encountered similar situations

My worry is that it may not be in my best interest to contact lender. Possibly there is a way to get this property without involving them directly, maybe going through the court system or some other back channel? Since they have done the foreclosure it must mean they are missing some important documents concerning the property right?