All Forum Posts by: Adam Bartomeo

 I am a believe that there are always good d als out there for those who are willing to find them. But, ALL of the multi family properties in SWFL are out of line.

I believe that as you grow and become larger it will be easier to find these types of lenders but I am having difficulty. All of the lenders that I have been dealing with want a personal garuntee and I'm fine with that. But, they have been putting me through the ringer. Local HML's have been the only ones that have been reasonable but they are charging high points and high interest.

@J ScottDo you have anyone that you recommend? I am considering a portfolio refi and have done some research on B2R.

That is a very specific question but there are probably a few people here that can answer that. I would suggest you visit the va website to get some clairification but I think you will have to call.

Before you do that I would ask a good mortgage broker, your accountant and lawyer. I would be leaning towards it being ok but I don't like messing with the government sponsored programs.

Welcome! I was active army for 3 yrs and army national guard for 3 yrs. Dont hesitate to reach out for advice or if you have questions. Good luck and Godspeed on your deployment!

 Mistakes happen to the best of us but the best of us learn how to turn it around. Lemons to lemonade. I would stop what your doing and come up with a plan before you go any further. If you are going to rent you may not need to do all of the work you are proposing. Newer investors often over do the rehab on flippers and rentals. 

You should be able to find out fairly easily being going to the state and/or city website. 

Hailing that said the majority of states in the union do not require a home owner to higher a contractor to do work. The home owner is typically allowed to do most if not all of the work to their own home. 

The reason why a state requires a license is to protect to public from shady individuals and to make money through fees and fines.

You will have to pull the necessary permits just like a contractor would and pass inspection.

I've read thousands of books and even managed a book store. I have never heard of a book like this but there are millions of books out there. I don't see why it would be any different from investing any where else. You have to have a team in place for when you are in th field, deployed or reassigned. You can always partner up as a money lender/silent partner.

Let me know if you need any help. 3 hrs active and 3 national guard.

It is a nightmare if you have to get to your plumbing or drainage if it is in concrete. It isn't often that you would have to do this (I think I have had to do it 2 times in 8 years) but I probably should have done it a few other times. I didn't because it is so difficult, we usually just find a way to live with the issue or a way to work around it. In my current primary residence I have to snake the clean out a least once a month. I would rather get poop on my hands once a month then jack up the floor.

Having that said, slabs don't rot, attract termites or carpenter ants. Animals and bugs cannot live in or below a slab. A slab is well insulated. And, it is no joy crawling under the house when there is an issue.

I would choose slab all day

I have painted more houses then I would have liked to but it has the best bang for your buck and is easy to do. I've done 4 inside and out over the past 3 months. Anyway, I never apply 2 coats unless it is absolutely necessary. I normally buy highquality paint that is made to last longer then your normal paint. It saves time and money. I have never had an issue with Behr Ultra and it is my brand of choice.

So, I guess I would take the high road on this one as I have in the past. I would have a conversation with her to try and find an alternative, then I would have a conversation with her immediate family to see if they could either take her in or help with the rent. I would then try to her find a location that she could afford and help her to move there if necessary.

It's not all about evictions and money. There are other solutions that can be found and that will go a long way with karma, God, and the community.