Casey Speer
Posting an ad in Marketplace to different states
26 September 2016 | 3 replies
I was wondering if anyone knows exactly how the mechanics of this site work regarding my profile location verses the states in which I want to market.
David Stover
Deal or No Deal? Milwaukee Mercantile Apts
1 October 2016 | 10 replies
I rate this property as a C/C-.The home is very old (Pre-1900) and the photos suggest a property that may be sound mechanically but certainly not finished well or pleasant inside.
Mark Forest
Newbie help with forms
30 September 2016 | 1 reply
They are doing a good job of training, but I want to find a book, site, forum, etc that covers the mechanics of all the paperwork from listing to closing.
Paul Grachan
Experienced but burned in Chicago
27 September 2016 | 2 replies
But my lack of long term market understanding lead to over extension on my personal buy-and-hold properties. 2008 destroyed me as 95% of my tenants decided they no longer needed to pay... and some even decided that they were entitled to my mechanical systems and metal materials like plumbing and wiring... one even burned down a multi-family building.
Jonathan Johnson
Appartment building
6 December 2017 | 11 replies
Those look like some pretty large floor plates looking at the picture, and you did say they currently have 4 apartments on the 2nd floor.So you are looking at building out the 3rd, 4th floor at least, I am assuming to have a similar layout to the lower floors to have all your mechanicals lined up.
Kyle Carpenter
First time investor. Is this a good deal?
5 October 2016 | 20 replies
However, the people moving to the community without ties are teachers (we had a bunch retire these last few years), an attorney, medical professional, mechanic, manager of assisted living facility, restaurant owner, carpenter, etc. on top of those other professions.
Andrew Martinez
Any Investors in or close to south west Inland Empire?
6 October 2016 | 5 replies
I am looking to trade my skills as a handy man/ ASE certified mechanic for a few hours a week in investing knowledge.
Ken Betza
Preforecloser Negotiating Advise
30 September 2016 | 4 replies
Still need to verify other details, but what I know is this:- Client has declared bankruptcy- Client has a Mechanics lien on house for 16k- Client owes bank 900k, and house (not yet verified thoroughly) is appraised at 550k- The appraisal is before client leaves house, which will have some further damage to it
Abdul Azeez
First failure and chicken and egg situation
7 October 2016 | 12 replies
@Abdul Azeez, I think that the problem is that you are stacking the deck against yourself trying to do all of these things on your first deal:1) Purchasing the property from an online auction site / bank, which is notoriously tricky even for the experienced investor, due to their proprietary contracts and minimal due diligence period and strict deadlines.2) Working with a new contractor that you haven't used before, or seen their work before, and who may not be used to dealing with investors.3) Trying to get conventional financing on a property that has a short closing time and where the mechanical systems cannot be tested.4) Working on your first deal by yourself instead of partnering with a local investor who can guide you along, or at least a mentor who you can turn to with questions.My advice is to make it easier on yourself by considering buying a property with a standard contract and longer due diligence period, network with local investors who can provide you contractor contacts and also some guidance, and consider using private financing or hard money instead of bank financing.In my opinion, buying from the online auction sites is a more advanced strategy that you can use once you are able to ballpark construction costs yourself and/or you have a trusted contractor you've worked with before and/or you have private financing or hard money set up so you can close fast and/or you can purchase the property without interior access and hope to get lucky in terms of condition (but still buy at a price where you are comfortable doing a full rehab if necessary without losing much money) and/or you are familiar with agreement of sale contracts and closings in your state so you can assess the risks of using the bank's seller-friendly contract.You're already doing the right things by asking questions on this forum, and taking action.
Chase Hildebrand
The Groundwork
22 October 2016 | 5 replies
Your plumbing, electrical, HVAC (includes all mechanicals) can only be pulled by a Master.