All Forum Posts by: Uriah D.

@Matt D.

Please send over that DM! It would be very appreciated

@Manish Agarwal

I’d love that contact info! Thanks a ton

Hey BP Family. In Raleigh/Durham I know who to call as we work here full time, but I have a house just under 1,000 sqft that needs to be painted in Monroe, NC. Anybody got a guy that,s decent?!

We regularly have 2-4 million invested in our business on various projects through DOT and PN's on specific properties. all the investors we work with are private lenders we currently know and have build long relationships with (NO HM). Over the past several weeks some have asked about investing with us over a longer term period (1 year at a time) into the business not on a specific property. If we are using standing relationships to raise ~1 million for us to use on various projects do we need to go the SEC route and do a legal filing? OR can we just use a PN and set terms that are agreeable and treat it like a business loan?

Your opinions are helpful, but your professional opinions are wanted!

@Chloey M.

Beat me to it! If you cut the grass, you won’t get a violation.

If someone has a mortgage on their property with a house and I want to buy a sliver of their side yard (~8 feet all the way back totaling 8% of their whole lot).what is the process to deal with the bank? I’m guessing there is some sort of approval process? Who here has done it or knows exactly how it’s accomplished?

@Alexander Felice I’m forever asking that same question. On top of the post is the date /time. 8/12 - 6-8pm. 

@Adam Schneider you are right. It’s a great problem to work through. Originally we were thinking it would be a long road play, but the more I consider it the more I think maybe it can be more than a long play. It could be a 3-5 year play? 5-7? Who knows. Hoping someone has pivoted on here before. If not, I guess I’ll write a BP book on how to do it when we are done!

Hey BP

For the last 6 years we have been flipping and building full time and converting 1-2 units a year over to our rental company in the Raleigh/ Durham area. Recently we have decided to ramp up our rental property holds through new construction and flips. Luckily, we employ a construction manager and an admin that help us out tremendously. The problem I am running into is if we convert all these flips and/or new builds over to rentals then we don't make any income and I can't pay myself or my team. The only thing I can think of is when we refinance them we pull out enough money that we can pay our staff. 

Im hoping someone has done this in the past and can shed some light on a better way.

Currently our cash flow from rentals does not pay all the bills. We don't use any of it to live on actually, just let it build to help buy the next one. 

Thoughts?

@Clint Harris

What @Greg Dickerson said. It’s all depends. I would say, if you are doing that large of a Reno would it be bad to bring it all up to code?