All Forum Posts by: Vamsee Lella

Thanks Ed for the vote.

Thanks for the feedback Ed !! I am talking to demolition contractors as well at this time and one came back with an estimate of $10K...still waiting on other bids.... Fortunately, the Fire Captain was very helpful. He even requested that his name, dept and contact # be included on the Burn Permit application, so the Health Dept could contact him, should they have a question. 

Hi Jeff, Appreciate the feedback. I will check out the blog post as well. 

Should I have any further questions, would it be okay to contact you? I was planning on talking to my CPA as well regarding this. 

This structure is really old and there is dense overgrowth around it. I checked with the Health Dept and they have no record of utilities there. It may be a challenge getting in the structure for verification. 

As regards the inspection for Asbestos, would it be an Asbestos Inspector or a regular contractor? 

Hi BP - I own a piece of land (about 0.75 acres) on which sits a dilapidated house. The city's Planning, Zoning and Community Development Department had sent me a notice to take down the house. I spoke with the code enforcement officer and was able to get an extension to satisfy the request. I have been getting bids from Demolition Contractors in the area. In the interim, I reached out to the local fire department to see if they would be interested using this property for their fire/burn training. The fire captain did let me know that, they would be able to use it for the fire training and burn the structure to the ground and that I would need to get a burning permit from the County health department first. I have submitted the request for the Burning Permit from a few days ago and awaiting to hear back from the county. I was told by the Fire Captain that I would be responsible for everything...from clearing out the shrubs/creepers around the perimeter of the house, to ensuring that there is no asbestos/hazardous material, cleanup post the burn training and such.

If you or somebody you know has been through a similar situation, I would appreciate sharing your experience and all the things you had to do, to ensure a smooth process. I just want to make sure, I leave no stone unturned and cover all bases. Thanks in advance !

Looking for lender referrals/recommendations, who can do Cash out Refinancing of an investment property in MD, without considering the income or the seasoning period of the property and can do loans less than $100K. Thanks !

Hello Finale - Welcome to the BP family. I have done some investing in Salisbury MD in the past and actively looking for deals there. Let's connect sometime, when you get a chance. Good luck and all the best !

Thanks Michaela, I will PM you.

Hi folks, I am in the same situation as Michaela. I am trying to do a cash out refinance of my rental property that I have owned for over 3yrs now. I quit my full time job December of last year and will not have a W2 income or other income to show. Wondering what my options are.                                   Hi Joseph and Harjeet - I will reach out to you folks on the side

Hi, If you are buying in Iron Gate in Alleghany County, VA, please pm me. I have a seller who opted in from my website. I do not invest there but will be happy to pass along the lead to somebody who may be interested. Thanks, Vamsee

Fully renovated 2-level Single family home features 3 bedrooms & 1 Bath, with an airy living room, separate dining room, a fabulous kitchen with a pantry & a mud room. The house is located on a big lot (7,367 SF). Everything in the house is brand new - electrical, plumbing, Kitchen cabinets and much more.

Perfect for somebody who would like to make it their home or make it a rental. Rents are between $700 and $750. House is listed with an agent already. Pictures uploaded today.  

Should you be interested, please PM me for further information