All Forum Posts by: Tina C.

Hello! Anyone have experience with finding a contractor to help permit a finished but un-permited basement?

@Katie L. Thank you for the info. I'm in the Long Beach/Los Angeles area. Happen to have any contacts up here?

@Brian Schmelzlen @Aaron K. Thanks for your response. I think what I actually meant is a family estate planner NOT a financial planner.

Any referrals or strategies you could share would be appreciated. Thanks!

@Joe Homs Thanks so much for your response. That's exactly what we're looking to do. We'd like to purchase something here in either Los Angeles or Long Beach to rent out before they move in, in 2 years time. We don't have a family trust but it is something we are exploring, however they will most likely sell the home in Maryland but put the new home within in the trust.

Are there any other strategies that they can leverage? 

My parents will be retiring within the next 2 years and looking to relocate from Maryland to Los Angeles. They currently own their home free and clear but we are unsure as to the best way to leverage the HELOC they currently have available and whether or not the future purchase in Los Angeles should hold title in a family trust. Any feedback, suggestions and referrals would be greatly appreciated. Thank you in advance!

Welcome @William Escobar

Or maybe try hiring someone on taskrabbit.com

The profit margin does seem very narrow. Roughly, very roughly and very conservatively, I would say the purchase price should be closer to 90K. Use the Bigger Pockets flip calculator to run the numbers to be sure.

@Kyrin Veritas WELCOME and DO IT girl!

@Brian Lo Thanks for the heads up I found the FIBI Long Beach meet up group and I see that there is a meeting at the end of the month on tax tips. Hopefully I'll be able to make it to that meeting.

I love listening to the BP podcasts @Brandon Turner @Joshua Dorkin!! It has been a great tool to use when I'm driving, or grocery shopping, or doing chores around the house and even when I'm working during the day. (I'm a graphic designer and work from home and so I've been listening to the podcasts as I work.) 

@Matthew Nixon you are so right about driving around. Just this morning, as I was driving back home from running errands, I saw 2 vacant homes with signs posted on the doors and windows and shrubs and grass growing high. I drive down this street at least 3 times a week and now that I am actually aware and looking for certain things it's amazing what you end up finding.