All Forum Posts by: Chris Seveney

What are the strategies people are taking to invest in the current overinflated market of Florida through the insurance crisis?

I want to share a cautionary experience in case it helps others avoid the same headache.

I hired a general contractor (GC) here in Tucson, Arizona for a cosmetic remodel on my property. Before we started, I specifically asked him if a permit was needed. He said no, claiming that since we weren’t adding rooms, moving plumbing, or breaking down walls, it wasn’t required. He also said he was licensed for both residential and commercial work.

He seemed professional at first, and I paid a 33% deposit upfront. But soon after the project began, he started asking for more money before finishing major parts of the job. I ended up paying almost the full amount before realizing something wasn’t right.

Then a city inspector stopped by randomly and issued a stop work order, saying the work did require a permit. That’s when things fell apart. The GC became uncooperative, wouldn’t assist with the permit application, and once I obtained the permit myself, he refused to be listed as the GC and completely ghosted me.

I then consulted another GC, who helped me confirm that this person is not licensed at all, despite his earlier claims. I have since filed a complaint with the Arizona Registrar of Contractors (AZ ROC). They confirmed he is unlicensed and have opened an investigation.

Luckily, I paid with a credit card. I’m currently disputing the charges, and the credit card company has frozen the funds while it’s under review. They told me if the contractor can’t prove he did the work as agreed, I may be able to recover the money.

I also learned that because he’s unlicensed and abandoned the project, he likely can’t place a mechanic’s lien on my property.

Before you are lured into spending thousands on anonymity through Wyoming LLC's, Management LLC's or whatever the flavor of the week happens to be believing that will protect you from lawsuits ask yourself why individuals with real assets don't use the same strategies?

Here’s the difference…. you can walk around this mix-use complex without spotting premises liability traps, I’m confident everyone who performs services is licensed and insured and the building ownership is listed as additional insured with sound contract management.  That’s how you prevent liability,  not hiding in the cloaks of secrecy.

Hello Everyone,  I target Assumable Loans and Seller Carry Multifamily properties.  I have access to some data that let's see some of the criteria I am after and it is OK but does anyone know if Crexi has good data?

I was considering Prime Corporate Services for their business credit building services, but I have seen too many negative reviews about them. Are there any other companies I can consider for that?

Up at 4am working on my craft.... tired. I have been overwhelmed lately, but I am still pushing. I noticed I have been writing and typing so much lately my hands actually hurt lol. Got a couple of important gatherings I am attending - making sure I am locked in and ready for that. 

How is everyone else? Hope all is well. 

Hi All,

Newbie land investor here. I am starting my land investing journey in WI, but plan to expand to other states as the business scales. My question is - can you use a generic land purchase agreement template for multiple states or do you have to generate a new one for each state based on that state's specific laws? Additionally, I have seen other investors include a one page generic purchase agreement with their marketing cover letters. Is this the purchase agreement that is sent to the title company or does the buyer usually have to fill out a different, more detailed purchase offer document after the price has been agreed upon?

Thanks!

I found this guy online and enjoy his videos. If you are looking at investing in some offerings you can check out if he reviewed them. I found him as I saw the following FB ad and just started contemplating how someone is providing / targeting for investors a 47% IRR in a MF deal, and not only that in texas.

Here is link to videos: www.instagram.com/minkowbarry/reel/DGzNHc-vUgG/

We were so dissatisfied with the three loan servicers we tried 8 years ago that we decided we might as well service our portfolio of note ourselves.  Of course with commercial notes we aren’t subject to Dodd-Frank or the CFPB. 

In December 2024, I purchased a condo through a fix and flip loan under my LLC. The loan is for 6 months. It's almost 6 months in June. I can't rent it because the HOA has a 2 year rental restriction and it's not selling. I can't get into a DSCR loan because I can't rent it. What can I do??! I do not want to refinance it under my name 😭 any help on guidance would be greatly appreciated!!!