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Results (10,000+)
Bryan Harvey new to BP - seeing advice to make a move in the best direction
30 January 2018 | 6 replies
Would I even realistically be able to get a loan for a multi-unit property considering my lack of experience in that sector
Hunter Harms Questions on architects and designers when flipping?
1 February 2018 | 11 replies
They would know what needs to be done first, what tasks can be done during others, and since I'm a newbie it would really benefit me to get some expertise on who to have in, at what time, and doing what. 
John Fulton S&P or Real Estate or Both?
26 February 2018 | 35 replies
Goals, risk tolerance, amount of time you want to spend investing, time frame for your investments, your own expertise, your passion your network...so many factors impact this decision.For me, right now in my life, I'm moving towards 50% of my investments in a brokerage account managed by a very trusted fee-only (no commissions) financial planner and 50% in real estate.
Lisa Wright An Interesting Scenario.
12 February 2018 | 2 replies
I'm not a Real Estate Investor, and this is definitely is not my main expertise.
Joseph Lucido Tax Guidance on partnership in rental property
14 October 2017 | 3 replies
Additionally, partnership tax law for the more complex operating arrangements is often beyond the professional expertise of most tax preparers including most general tax practice CPAs. 
Keoki Kimzin Inherited tenants: Keep the 20-30 yr tenant hoarders?
23 January 2019 | 24 replies
Pics to follow.Purchase Price = $160KMonthly Rents= $1980 4x 2bd/1ba ~750 sq ftRehabPreclosing repairs= $6500 Roof repairStucco workPostclosing repairs= $35000 Exterior: structural repairs, stucco, paintTwo central ACTwo Full interiors (flooring, spackle, paint, doors, bathrooms, kitchens, appliances)New Rents= $2620Goal is to refi > $215K for a final CoC of 23% post refi and a 10 Cap propertyLessons LearnedSearching for propertiesoBring in craigslist more for 2-4 multiunit buildingsoThere are certain realtors that specialize in these multiunit properties, get on their mailing listAnalysisoAdd 50% to all rehab costs…..and get a better contractorPicking teamoRealtorRealtor with experience in multifamily properties and also invests thereoProp ManagerPay for the system not the personGet them in the loop earlier during due diligence to determine better proforma rentsUse their expertise in legal matters to develop your tenant/lease situation and way forwardoContractorGetting the work done in a timely fashion could be more valuable than shopping for contractors for months.We had a long closing timeline that we could’ve have set our team better and poised them with good gameplanoLenderPresent a professional document compilationLook into mortgage brokers for future flexibilityLending packageoLoan documentsoPersonal finance limfacsVery clear guidelines between partners concerning capital requirements by certain datesoInclude gameplan for the property for your lender with appropriate numbersMaking an offeroPrice options (all in same offer, give them choices)Conventional with discountSeller finance less discountCash offer significant discountoOther ClausesDue diligence doesn’t start until you get all of your required documentsClosing TimelineoRepairsLean forward on your contractor and book their time, oDocumentationSave before/after pics, invoices, tenant notice documentationoTransitioning property to LLCGet you lender in the loop asap to determine their specific protocoloMoving money for closingEnsure that if you’re working out of state, that you can do online wire transfers!!!!
Brandon Pelfrey Real estate agent involvement for off market deals
17 October 2017 | 1 reply
I know it would be worth it to me on my first few deals to pay my realtor say 1.5-2% for their help and expertise.
Matthew Phillip Potential New Investor in Binghamton/Endicott area
23 December 2017 | 10 replies
Without the University some of the other jobs/sectors in the area wouldn’t be supported.
Ben Cochran Out of State Purchase/Partnership
22 October 2017 | 5 replies
Going through the prequalification process will also open the conversation with the lender as to what creative options you have.Some things to consider (although you probably already have):Who will select and vet the property in determining if it's a good investment (local expertise will be critical)?
Kim Horn What can I do as an investor...
25 October 2017 | 4 replies
Be respectful of their expertise