All Forum Posts by: Andy Bailey

A couple of things: One, your dad is still grieving and everyone does it in their own way. Maybe counseling? 

Two: Family businesses a lot of time do not work out. It is hard to move past the Father-Son relationship. It also sounds like your dad has to come with more money and the land? Is this correct? 35% of a deal is better than 0% of a deal.

Have you both line out your thinking in logical, not emotional way? Why do you think 50% of the deal right? Why does he think 35% of the deal is correct? 

Three: The first dude was way out of line and ignore him. 

Can you do a Heloc? How large is the garage? Is it on a slab and are your having to dig up the slab for plumbing? 

You can do up to a four plex with a VA loan, but only for your primary residence. Since it was two tax lots, I could only use the loan for one building. They are next door to each other.

Hi all I haven't posed in a while and I thought I would give an update. 

Next week, I should close on two duplexes. I am going to live in one unit and rent out the other three. I sold my primary residence and used the equity in the purchase of the investment property and I used my VA 0% down to purchase the building I'm going to live in.

After PITI, property management, vacancy, cap ex (low since they are brand new), and maintenance, I will be cleaning $200 a door. When I move in a year, I will be clearing about $2200 a month.

I will also be closing on a refi for a flip on a two house lot. I already rehabbed one of the houses and have renter in house. The other house needs a lot of work, but it will be worth a pretty penny when it is done. 

I'll PM you. 

Well, did a really poor job of updating this, but I sold it and make over 30k. 

I would suggest talking with everyone you know about it even random people you meet. I found my lender by happenstance because I talk about real estate with everyone.

Hi All I'm Andy with Two Vets Homes. My business partner and I started on our first flip.

We purchased a forclosure, the last house in an area which has not beeb updated. It is a 4 bedroom and 2 bath home with approximately 1580sf. It has brand new roof from the bank and the rot repair to the roof has already been done as well. It is the last house that butts up to Farmland acreage with a great View of the Coburg Hills.

So far I've gone through multiple contractors trying to find the right one. Luckily my real estate agent was on the ball and helped out. And after closing there was a little bit of snafu because we originally thought 3 interior walls which were just partition walls. However, were thought to be load-bearing after we cut into them. However, I had a architect/engineer friend look at it and they are not.

Then the drywall and popcorn ceiling came back hot for asbestos which I pretty much expected. Met with the asbestos abatement contractor yesterday. Luckily I've known them for a while and they're very trustworthy.

I didn't plan to do much physical work on the deal that was frustrated with the situation and decided to rip out the kitchen cabinets myself which was quite fun. I only found one dead mouse. I will post some photos a little bit later.

@Robert J. Hey I'm in the area I am meeting with a sub contractor on a flip today out in Harrisburg at 430 . DM me if you want to tag along.