All Forum Posts by: Karl Wertz

Hi, So I am currently working on my 2nd flip. The first was just updates and paint. The current is 4bed 1bath, which I have decided would be better as a 3bed 2bath. I have had the 2nd floor two bedrooms and hallway converted into a master suite with a walk-in closet and bathroom. The issue is that I did not have any permits pulled for the addition of the bathroom. Everything is roughed in with subfloors down and walls up. I have be having serious doubts now because I do not want to have issues selling the house such as it not matching county records, buyers having issues obtaining financing or potential lawsuit. I just want everything to go smoothly but now am stuck on what to do. Should I just demo all the work and put back as a 4bed 1bath? I am just looking for a straight up answer on what I need to do. Any guidance is greatly appreciated. Thanks

Hi, So I am currently working on my 2nd flip. The first was just updates and paint. The current is 4bed 1bath, which I have decided would be better as a 3bed 2bath. I have had the 2nd floor two bedrooms and hallway converted into a master suite with a walk-in closet and bathroom. The issue is that I did not have any permits pulled for the addition of the bathroom. Everything is roughed in with subfloors down and walls up. I have be having serious doubts now because I do not want to have issues selling the house such as it not matching county records, buyers having issues obtaining financing or potential lawsuit. I just want everything to go smoothly but now am stuck on what to do. Should I just demo all the work and put back as a 4bed 1bath? I am just looking for a straight up answer on what I need to do. Any guidance is greatly appreciated. Thanks

Hi, I am currently researching how to best setup my real estate development company. I have personally bought, renovated and sold many homes but without any sort of entity. Being I want to expand and I eventually start new ground up development I need to form a company. I have previously worked for a small commercial developer who has developed $100's of millions in prime commercial real estate. This company doesn't construct they just buy land, find the best use, have the properties built, then own and manage them. Being I want to model their business I want to find out if there is anything I need to be sure to have or know such as if I need certain licenses or certificates to run this kind of business. I have an attorney who will be setting up my entity and he told me to reach back out to that company to ask about this but I also wanted to reach out to the BP community and see if they have any insight. Thanks!

I'm currently trying to figure out the best way to set up my business. I want to develop properties ranging from residential to commercial with that I want to hire on laborers to have an in house team to develop properties that I own. I plan to set up an LLC but what do you think is the best way to get this done? Should I just have my attorney put everything together? Thanks!

I'm currently pulling research together on a currently commercial building about 7,000SF 3 floors. While trying to find the highest and best use I've thought of apartments, office, townhouse, condos, retail/office, condos/retail. I feel the best use would be to develop the top two floors into one unit and sell it off as either a townhouse or condo and have the first floor as retail. My question is, is this possible to do? Who is would own the building? Or would there be a different way to set this up? Thanks!