All Forum Posts by: Joseph Ortiz

Fellow investors,

I am looking to sell both units of a duplex on a property where the city prohibits subdividing the lot due to minimum lot width requirements. This is a single story structure that is connected right down the middle. Does anyone have experience with selling multifamily on the same lot in a creative manner which would be both legal and make sense for the buyers? We are in Louisiana.

Thanks in advance for any help.

Angel.

Lisa,

This could be one of two reasons that come to mind. One being that there might be a higher content of moisture on the slab in those particular areas. This could be why the glue refuses to bond if it has been good in other areas. The slab could be sweating in the areas that are giving you trouble. You may have to remove a couple of pieces and the glue to test the moisture on the slab itself. The percentage needs to be between 7%-9% ideally. If you find a high percentage you may need to use some sort of sealer before you reapply an glue. Always use a high quality glue if you want the application to last. The second reason may be that the installers did not let the glue get tacky (also known as "flashing") before they started installing the planks. This will for sure create the issue you are experiencing. Either way I recommend that you call someone local who specializes in floors to inspect the floor and give you some direction.  Sorry you are having to deal with this. We have been there!

Best of luck.

Joseph.

 Thanks Cameron,

We have started the process.

 Chris,

Thank you for responding. Yes, if you could forward the best way to contact them it would be great. We appreciate the help.

Joseph

 Bo,

That is good information. We will perform some due diligence on this for sure. At least we have until May of 2023 to get things lined up on our existing portfolio. Your input is much appreciated.

Joseph.

Fellow investors,

With the recent amount of hurricanes the past three years in Louisiana, several insurance companies are not signing new policies on property. We currently use NREIG for our investment properties but they are not sure they will be renewing the policy in 2023. Does anyone have suggestions on companies they could recommend for this who are investor friendly?

Thanks in advance for any input.

Angel. 

 Thank you Eric. We do have local relationships that we will follow through with at this time to see what comes of it. I will actually be building this project myself as well. This does help!

Thanks again.

 Thanks Jay.

I do have local banks/contacts we are currently working with. I am actually doing to do diligence in preparation for possibly having to do something creative. I listened to your podcast way back when and I actually use your excel analysis sheet on some projects. Thank you for the continued value you offer to this platform. FYI, I am the credible GC/Builder. That is my primary business before we started investing.

Thanks again.

Hello fellow investors, lenders and real estate professionals..

We are in the process of getting ready to build a new duplex which will be leased out when completed. The property started out as a sweetheart deal, but the latest interest rate hikes and increases in materials costs have us being very cautious about the overall expenses affecting future cashflow. Can anyone recommend a lender they may have used in the past who does both construction loans and term financing products for investors? I have made a list from BP resources but I was looking to get input if possible from investors who may have experience with  a specific company?

Thank you in advance for any help!

Angel.

Derek,

My apologies on the delay. No, I wouldn't say that the cost to rebuild increased. We were actually just thinking about the value and not the process/cost of repairs. That is a great point. Thank you for sharing.