All Forum Posts by: Calvin Lipscomb

I’m beginning to make offers on potential rentals and fix and flips and am looking for a general contractor in the western suburbs that can walk properties and give estimates (and, of course, ultimately do some rehabs), starting ASAP. I have a specific property that I walked yesterday and would like a rehab estimate before I jump into this one. Any suggestions?

Hi Everyone,  First time poster here so I appreciate any responses!!!

I'm under contract on a mixed use property zoned CMX3 in the Spruce Hill area of West Philadelphia. I'm purchasing the property using an FHA 203k loan. I already have an FHA consultant but am looking for a well-respected contractor with 203k experience.

The property has a restaurant on the first floor, one bedroom on the second and two bedroom on the third.  The third floor is in need of a gut remodel.  I'm going to try to keep as much of the current lay out as possible, but may have to move a few walls.  I'm leaving the bathroom and kitchen in their current configuration.  I'm also considering adding a fiberglass roof deck if it fits in the budget.  The other two floors are currently rented and up to code.  Projected start date is mid to late June.

I'd really appreciate any help/guidance the community can provide.

Thanks!

Hi all, I have a friend who is interested in beginning to invest in real estate. It would be so helpful if anyone is willing to offer any advice on her specific situation!

She lives in Bushwick, BK and loves it there- in theory, she'd be interested in buying a condo and living there herself for the next 4-5 years or so while she finishes school, then renting it once she moves away. She has a 6-figure income and her budget is 450-550k.

Other option is, she invests that money in a condo in Philadelphia to rent from the get-go. I own an investment property there already, and would be willing to help her out by checking on her place whenever I'm down there, so not much hassle for her. It seems like she could get a better value home in a nice Philly neighborhood, potentially with easier tenants, on her budget. Hard to get a sense of how much appreciation potential is left in Brooklyn though.

Thanks for your time again, and would be great to hear thoughts on this!

I am in the process of forming a LLC with my buddy and we are going to start our rental portfolio. We want to set up a partnership agreement for how money is spent and divided. What are the things that are a MUST when it comes to the agreement? What are your experiences when it comes to a partnership agreement?

Hello All,

Was curious if anyone has had trouble locating the sample forms and agreements on the BP site and forums? I was using the search bar and came across a link from BP "Real Estate Forms..." so I followed that link and it say's "Page Not Found" Anyone know where I can find some sample forms and agreements to use when flipping houses. Also any type of checklist or home evaluations people use when walking through a house to flip.

Thanks everyone,

Clayton