All Forum Posts by: Trey Wilcox

Hello Biggerpockets people!

I was hoping to get some insight as to the right approach of a situation. I recently bought a great mountain home at a discount. There are two driveways, one goes to the main floor while the other goes down to the basement. I would like to relieve some of the financial burden of this house before I flip/sell it and was thinking I would rent out the main part of the house and finish the basement for when I need a place to stay. I have family in the area so it would be convenient for me and I would add some value to the house. The basement is currently an open space sitting on concrete and being used as a shop and storage. As far as renovating the basement goes, I have a couple questions.
1.) What permits would I need to pull to be qualified as an additional  bedroom, bathroom, and kitchen?  
2.) I know plenty of subs in the area but would I need a general contractor for it to be considered legitimate?
3.) Any other tips, advice, or information would be very appreciated!
Thanks BP community!

Hello BP community!

I work for a redevelopment company and have been tasked with researching what the best water submeter would be for a project we're working on that will have 35-40 accounts. We would pay the main meter bill and charge each account based on consumption. We are looking for a submeter that we can track and control the water usage using an app or software through the cloud.

Any advice or recommendation would be helpful!

Thanks!!

Trey 

@Scott Wolf I will get on that! Thanks!

@Scott Wolf We haven’t gone over the details but from what we have discussed he is more interested in helping me learn than turn a profit. That being said he obviously doesn’t want to lose money so instead of paying interest on the loan we have discussed that when we sell it we would split the profits by a certain percentage.

@Sterling Brown Hey Sterling! I’m also a new investor in the Athens area. Would you be interested in connecting? Who knows how we might be able to add value to each other down the road!

@Jake Blickenstaff Thanks for the response! I actually have been working with a realtor a little who is keeping me updated on the MLS. I would still appreciate connecting and would definitely be interested in anything you may come across off market! Thank you!!

@Theresa Harris I really appreciate the responses! I’m looking in Athens, GA. where supply is very limited. The pros of my cash lender is that he’s a friend and mentor as well so I know he would not charge me more than what’s fair and he would also analyze the deal with me before the purchase because it would be his money. The cons are having to find that great deal for him to agree to. Hearing y’all’s input on the amount of time allows me to feel more confident moving forward with him. The mortgage would be more of a back up in case I couldn’t find a deal he agreed with. That is if I could even find someone to give me a loan due to my lack of credit. Would anyone know any creative financing strategies if that were the case? Thank you!

@Aaron Smith Thanks for the response! You made me feel better about the time frame now I’m going to get after it!

@Demarcus Crump Thanks for the response! I’m looking in Athens Ga where supply is limited.

@Scott Wolf I really appreciate the responses! I’m looking in Athens, GA. where supply is very limited. The pros of my cash lender is that he’s a friend and mentor as well so I know he would not charge me more than what’s fair and he would also analyze the deal with me before the purchase because it would be his money. The cons are having to find that great deal for him to agree to. Hearing y’all’s input on the amount of time allows me to feel more confident moving forward with him. The mortgage would be more of a back up in case I couldn’t find a deal he agreed with. That is if I could even find someone to give me a loan due to my lack of credit. Would anyone know any creative financing strategies if that were the case?