All Forum Posts by: William Howley

Hi, I have a rental property with an outside separated laundry room. There was a leak in the laundry room which caused some mold build up. I have a handyman who says he has mold remediation experience and he knows how to get rid of it. The tenant is insisting I go through a licensed and mold remediation expert. Is it required by law? What are the risks of not going with a licensed person. Any response will help, thanks!

haha, oh no wonder I got no replies lol.  Just wondering why would that be against the law? seems strange... 

Everything everyone is saying here seems to be true, but if you are a bottom feeder, what would you suggest the best way to get past the 100k mark is. By that I mean, I got 70k, but I am facing stark competition, with smaller profit margins. Is there a way to get additional capital without killing myself, or perhaps another strategy would be to find someone exactly like me and team up?

Hi, I am seeking a real estate agent that lives in Pinellas County, Florida (St. Petersburg area). I have a list of properties that I need comps done on, and would like to pay the agent an hourly fee to complete the comps for me. In addition to making a new connection, after I purchase the property I will work with the agent to sell the property as a normal sale. If you know anyone that you think would be interested in working with me please send them my way.

Thanks BP community! 

Will-

Hey Matthew, Im not exactly sure what minimum would be but I have been deeply considering doing auctions in Hillsborough / Pinellas  ie: Auctiontumbler.com  as means to get back down to that 40:1 / 50:1 ratio. I cant see any other way of doing it other than being a full blown wholesaler... something I really dont feel like getting into. 

hmm, so are the podcasts outdated, or are those 50:1 thresholds for professional investors with good connections "ins". It appears that some investors are still managing to find deals like this one way or another, and those are the ones that are truly succeeding. I will need to do some more research I guess. 

Hi, on a lot of these posts / podcasts investors say the same thing, for every 50k in purchase power try and get $1000 / month in rental income. I am having a hard time finding deals like this in the Hillsborough, FL / Pinellas, FL area. Everything that I am finding whether it be MLS, wholesaler or any other means does not meet these criteria. Does anyone here know of how to find deals like that?

Hi everyone, I have been stuck at 1 unit for a long time and finally got some money together, and not sure what to do next. It would be great to get some advice from the awesome people on BP! I have been listening to BP podcasts and am fascinated how some of these people are able to buy properties and then leverage them to continue buying more. I want to develop a strategy similar to this. I want to get up to 5 properties as fast as possible!

Background story: My original plan was to buy a rental with 100% equity, and then cash out refi that property to buy another. I followed through with buying my first property but because the property was in an LLC no bank was willing to cash out refi it and I was stuck with my 50k into that property.

Two years later I was able to save 70k and I am ready to get back into real estate, this time I am unsure whether to put a new property into the LLC or not since financing is so difficult from a commercial standpoint.

My main objective here is to come up with a long term plan to obtain a property with the intent of getting another one 6 months later. I'm just trying to not get stuck again, where I need to save the old fashioned way to get the next one. 

You deserve it than.

You threw down 100k on the 4plex, then 13k on a 375k property no closing costs? 

Anyone got 150k layin around?