All Forum Posts by: Francis I.

Thank you. Any idea about how to go with the building permit process for an existing ADU?

Hi guys. I bought a house last year here in Dallas Tx that I live in that came with 2 existing ADUs (350sq ft and 300 sq ft). A city inspector stopped by to look at the vacant property next door with several violations and saw my units advised that I obtain building permits for my 2 existing units. The previous owner remodeled both units and they are up to code in terms of electrical and plumbing. Anyone with experience with this?

@Nelson Gomez from my understanding new ADUs are not allowed in single family houses but existing ADUs may be allowed due to grandfather laws.

Hello,

I recently completed a house renovation flip in Baltimore city. However, I received a citation from the city about non registration of my property which came as a shock to me. I was under the assumption that only rentals needed to be registered and that flips were exempt from this rule?

The fine is $500 and I find it rather on the high side. What are my options? I am thinking of requesting a hearing. What is the best way to fight this citation or reduce the citation fee? Please help!

@Ned Carey

@Ian Barnes

@Jared Lichtin

Hey Jared, good job with your successful construction company. 

Do you have an in-house construction crew for your projects or you have a team of several independent contractors?

I am trying to get to the point where I would have 5 to 10 flips going on at the same time and I would like to know which would be more effective - in-house crew vs team of several ICs?

@Ned Carey

Thanks for the quick response. Would this have any effect on the potential ARV of a property recorded as RENTAL DW in public records vs a similar property with an actual/recorded square footage?

@Ian Barnes

@Ned Carey

Hello Baltimore City BPers,

I am an active flipper in Baltimore city and I have come across several properties (townhouses especially) with no recorded square footage in public records but their sizes are recorded as 'RENTAL DW' (Rental Dwelling) instead.

For investors familiar with this term, what are the implications of a RENTAL DW townhouse for a flipper? 

This is really awesome and inspirational. You are where I aspire to be someday!

Do you mind sharing with us some details on the activities between 2016 and 2018 that made you a millionaire? 

It would really be helpful!

Hello everyone,

To active flippers out there with one main LLC (S-corp LLC for flipping purposes), how do you deal with properties purchased from wholesalers that are under a different LLC name (usually named after the property address) but you want the property under your main LLC presumably for tax/accounting purposes? I recently purchased a property through wholesale. After closing do you deed the property to your main LLC via a quitclaim deed (this may involve transfer and recordation taxes)? What happens to the empty property LLC afterwards? Any recommendations for best practices would be appreciated.

@Ian Barnes

@Ned Carey  

@Jamal L.