All Forum Posts by: John Rooster

1. Yes 2. In theory yes, but if it were possible it probably would have been done already. 3. No. 4. Of course, but I assume it is already priced at a discount relative to either 8 distinct houses, or an 8 unit building.

Not something a begineer should spend any time on.

You know a bubble has reached its peak when...

I spent a week in Ft. Lauderdale about 4 years ago. There are some low income areas there but there are no war zones in Ft. Lauderdale. A war zone is defined by the frequency of violent crime, not by the condition of the properties.

The holes in the windows look like pellet gun holes to me.

Provide 2-3 years of tax returns showing your income. Unless "I try to write of as much expenses as possible" is code for "I show hardly any income". Next best option is what is commonly referred to as Stated income loans. Historically they are around 70% LTV with interest rates about 2% over market mortgage rates, but I don't know of any lenders currently offering said Stated Income loans. Maybe someone else does.

Huh?

Are misplaced homes a big problem in Alabama?

Was it a tear down of an existing house, or a vacant lot in a new subdivision. Does your estimate of construction costs include financing? I have built one house, I found that because I was not a large established builder, that I had to discount it significantly relative to market to sell the house. What has been your experience in that respect?

My observation from a distance on properties like these in Baltimore is that they are eventually given, or sold cheaply to non profits that use grant money to over rehab the properties and sell them for top dollar with special terms. The unintended result is that it is very difficult for private, for profit companies, to rehab low end housing in Baltimore. I would be interested in feedback from Baltimore investors on that perspective.

Obviously the big problem is that goofy addition(?) above the garage. The picture of the addition isn't complete and clear enough for me to give a specific suggestion. But I am thinking either, remove it completely, or put a bay window or full dormer window on the front of said addition

eta: please do not paint the brick, I hate that

The shape of the garage door opening is very odd. Is that common in your area?

Based upon what you say, it seems to me the high and best use would be tear them down to the foundation and rebuild