I am friends with multiple attorneys, my neighbor is an escrow officer (who did our personal home's refi at rock bottom costs), we have a terrific realtor, and my father owns a major home inspection company (www.homecert.com <--hopefully posting links is acceptable).

This is pretty tight, as many investors like to be at 70% and below (depending on the area)You have to make sure no major repairs are needed so that you can keep most of the profit in your pocket.- This is what you do.Have a local real estate agent pull sold cash comparables in the area within the last 90 days.

It needs at almost total renovation (siding, roof, and some floors are the only things that DON'T need major work right now).

page=1#axzz2rQTi3H9wI've followed other cases, too, and most all seem to be related to blatant, over-aggressive and wholesale application of this law.For the living, this is a painful situation to be caught up in.The major takeaway is that A.P. is a tool of last resort, not an objective to search for scenarios to apply this law (which is available in all 50 states).

This is majorly problematic and leads me to think this is a cloud of smoke and they have no idea what they are talking about.

I'll be writing an article soon about my preferred multifamily tactic: (The 3R Approach - Rehab, Rent, Refi).

I was contacted by a person selling a home that Is in need of MAJOR repair.

Great renovation prices, did you do the majority of the work yourself?

If you smell something funny then you could anticipate major rehabs on the units you didn't see so that you have that price point already agreed upon prior to inspection.

For instance, I have several different friends who own chunks of Embassy Suites in major CA cities, however neither has any interest in having anything to do with operations, only the real estate.3) You'll probably have a better chance of monetizing this opportunity by working with someone experienced with hotel/motel development or investment offers.