All Forum Posts by: Zac Chism

Yes I agree. Navigating those HMLs I am learning is interesting. 

Hi All! Alright... no cussing. I am a newish newbie in real estate investing. My first project was simply renting our townhouse while our house was being built but that's not what I'm here to discuss!

My second deal was buying the remaining lots (8) in my 11 lot subdivision that went bankrupt. That was 3 years ago and the market has changed. I have been seeking Hard Money but wanted to see if anyone here had thoughts. The Hard Money is going ok and I am waiting for final approval on the development but nothing firm yet. I won't get too deep in the details but I had an appraisal done on the land with a proposed house on it and it came back pretty good. I have a great contractor and my cost is 300K per lot and after build value is 460K. With 8 that is a decent payoff.

Now.... money. Assuming I get approval from the Hard Money guys I am happy with the terms. I want to avoid personal guarantees and limit my cash outlay as MUCH as possible. Do any of you wise individuals have thoughts about my situation?

Hi All! Alright... no cussing. I am a newish newbie in real estate investing. My first project was simply renting our townhouse while our house was being built but that's not what I'm here to discuss!

My second deal was buying the remaining lots (8) in my 11 lot subdivision that went bankrupt. That was 3 years ago and the market has changed. I have been seeking Hard Money but wanted to see if anyone here had thoughts. The Hard Money is going ok and I am waiting for final approval on the development but nothing firm yet. I won't get too deep in the details but I had an appraisal done on the land with a proposed house on it and it came back pretty good. I have a great contractor and my cost is 300K per lot and after build value is 460K. With 8 that is a decent payoff.

Now.... money. Assuming I get approval from the Hard Money guys I am happy with the terms. I want to avoid personal guarantees and limit my cash outlay as MUCH as possible. Do any of you wise individuals have thoughts about my situation?

Hi All! Alright... no cussing. I am a newish newbie in real estate investing. My first project was simply renting our townhouse while our house was being built but that's not what I'm here to discuss! 

My second deal was buying the remaining lots (8) in my 11 lot subdivision that went bankrupt. That was 3 years ago and the market has changed. I have been seeking Hard Money but wanted to see if anyone here had thoughts. The Hard Money is going ok and I am waiting for final approval on the development but nothing firm yet. I won't get too deep in the details but I had an appraisal done on the land with a proposed house on it and it came back pretty good.  I have a great contractor and my cost is 300K per lot and after build value is 460K.  With 8 that is a decent payoff. 

Now.... money.  Assuming I get approval from the Hard Money guys I am happy with the terms.  I want to avoid personal guarantees and limit my cash outlay as MUCH as possible. Do any of you wise individuals have thoughts about my situation?  

Did you end up going with them?  If so did it go ok?

Hi All -

This will be my second real estate deal and trying to figure out my options. I have one rental property and it's doing fine. It was my first home that had great rental potential and I decided to capitalize and I'm cash flowing about 350 a month. This next is more complicated. My wife and I bought a lot in a vacant neighborhood in Feb 2014 to eventually build. With the real estate resurgence in my area (Trussville, Al) I figured the rest of the lots in this little neighborhood would be snatched up.  I bought mine for 15k and after house and improvements it's now worth 45k (per apprised value). Got to talking with my builder (former large subdivision creator) and the real estate agent on the other properties and decided to buy them. They are foreclosure lots but I got 8 for 9k a piece. My builder wants to work together to develop them but I am curious if anyone has ever done something like this?

@Sarah T. @Rolanda Eldridge @J Benoit Thanks all for the welcome. I may be able to make it out on the 28th. I will be sure to RSVP if I can!

Hi Everyone,

I am 26 from Birmingham, Al and just getting into real estate investing. I have one townhouse renting and my investing is on hold until my custom house is finished being built. I am here to learn the ins and outs of rental property financing, and buy and hold strategies.

Is anyone from the Birmingham area?

@Andy Lambert From my experience you can create a business in any state you wish. You still have to follow the law of the state you do business in. I know plenty of start ups that open their C-Corps in Delaware because of the laws governing public companies. My very quick research shows NV is good for small biz and you may not have to file a NV tax return. Please note that was quick research. If you have a good accountant (meaning they dont charge you for small questions) I would ask them too.