All Forum Posts by: Chris Seveney

I am interested in syndicating my first MF this year. Is it recommended to purchase a PPM Template online to give to your SEC Attorney to review/edit to save time and money of having the attorney draft from scratch?

If so, what site would you recommend? Does anyone have a PPM copy they'd be willing to share? I definitely don't mind paying but just uncertain about the direction to take. Thank y'all! 

Would like suggestions what you would do. Here's what I have: A) 17ac ranch with dbl wide mobile value 300k, no loan. No cash flow. B) Sf 3/2/2 rent house 200k value, no loan. No cash flow son lives there. C) Sf 3/2/2 airbnb w/ 140k note 1500 mo, value 220k. Cost segregation on all 3.

What strategies would you do to get cash, pay debt and keep property? Or sell all?

For the flippers and hard money lenders here: If someone is looking at a flip with an ARV of $300k, how much out-of-pocket money will they need? Give me a breakdown of the costs if you don't mind. Thanks.

I have an apartment building I am currently structuring financing on, I am going back and forth on my options. I have a private lender who is willing to lend the purchase, closings and renovations. I come out of pocket zero. Now to make the loan he has to move a few things around, so to make it worth him doing that he would like to guarantee 5 years of %. After 5 years I could cash him out and refi with a local credit union at a much better rate. It would still cash flow in the mean time, and on the cash out refi I would be able to get out all of his investment due to this being a great deal. Now my question is, would it be worth the 5 years of high interest to be able to acquire it with zero down? Or would you start actively trying to either find new private lenders, talk to different banks, etc... where maybe I have to put some money down, fund the rennovations but I could cash out as soon as I'm done and could immediately get better cash flow with a lower rate. Obviously some pros and cons here, curious what types of opinions you guys have!

I'm looking for a private lender who I can scale with. Ideally we would meet in person (Midwest region).

Hi BP Family,

I am interested in buying a piece of land to build a multi-family in it.  I was wondering if there is such a loan available (land purchase and for construction) instead of depleting all the cash in just the land purchase.  Also, I have never bought land alone, any guidance would be amazing.

Thank you.

Having problems with a hard money client and am going to call some non payment ofloans . Also some other letters concerning a few agreements .  Mainly in th Colorado Springs area.thxu

Hello,

I am a real estate Broker who is also looking into house flipping. I was wondering if anyone got a recommendation for beginners book on this topic.

Thank you!

Tenant says the master bathroom sink is leaking underneath, inside the cabinet. She feels that leak is causing the downstairs bathroom sink to leak as well. I don't know how that could be. All other areas, kitchen, bathtubs, toilets are not having any issues.

Hi BiggerPockets Community,

I bought a duplex in late 2020. One side was already occupied by tenants who had moved in around late 2019. They just moved out, and the carpet in their unit has significant damage — cat stains, paint spills, random stains, and a ripped-up spot from an office chair. While the carpet still feels cushiony and looks good, it clearly needs to be replaced due to the damage caused by the tenants.

I’m planning to install LVP flooring, which was quoted at $4,700. I understand LVP is more expensive than carpet to install, so I'm not looking to pass that full cost onto the tenants. I don’t know when the carpet was originally installed, but it was there before they moved in, and the previous owner wasn’t helpful when I asked for the installation date/year.

I’m considering prorating the carpet over a 10-year lifespan and charging for the remaining 3 years — roughly $1,410. I still hold their $1,800 security deposit. Does this seem like a fair and reasonable approach?

Thanks in advance for your input!