Bruce Thomsen
Water and Sewer Bill- commercial property?
I’m in the process of buying a commercial property with an auto body shop. This property is next to a bar my families owns in upstate NY. We are doing seller financing. The cash flow is a bit tight but we are buying i...
James Bynum
Looking for a contractor in Phoenix
Hey all, my family started flipping about a year ago, and are doing fairly well so far. Currently we hold about 2 houses at a time and when one sells, we buy another one.We work primarily in the under $250,000 range a...
Tom Bjork
Banks always seem to get it wrong
Over the past 4 years, banks were lending non-stop to anyone breathing using no doc loans at high ltvs. Now market prices have fallen, ltvs are more stringent, and now banks are hesitant to lend. Go figure a bank's me...
Andrew Watson
Beware the "Spray and Pray"
We are dedicated long-termers. We buy, thoughtfully renovate with resilient materials and finishes ("Bulletproof Chic") and then rent. Our focus is on SFRs. Recently we've been working to consolidate into tighter g...
Account Closed
Spec deal structure
How do these numbers look on a spec deal? Enough return to justify the risk in your opinion?Lot: $325,000Construction costs: $450,000Financing costs: $35,000 (est.)Closing & commissions: $40,000 (est.)BREAKEVEN: ...
Chris Stephens
Flipping Homes - 1. Budgeting Lesson
Hello BP!I thought it would be a great opportunity to start posting some of the current and past flips my team and I have completed. My goal by doing this is to allow the BP community to learn from our mistakes, conne...
Jimmy Jeter
New construction, 75% done. About to run out of money
Need some help to finish our house. I own the .83 acre lot. My significant other and I decided to use a builder she had done business with in the past. We are paying cash to him every week or so when he sends bill....
Keith Behney
Apartment renovation: Dishwasher or no diswasher?
Hi, we purchased a 4 unit (all 2 bed 1 bath) on riverfront here in Harrisburg, PA that we are trying to improve into more luxury type apartments, one unit was already renovated really nicely (long story) and is up for...
Jason Crowe
When the market gets volatile with rates do lenders start closing off loan options?
Particulary refinance available options, given the rates are increasing in the past do refinance options start getting tight to the point that refinance percentages for rentals are significantly reduced? Should this ...
Val J.
Complete New Lease or add Addendums
I've been reading a lot on BP lately about leases and I feel the one that my tenant signed 2 years ago is sufficient but weak. I really want to bone up my leases and be sure that it's air (legally)tight. After the f...