All Forum Posts by: Tyler Weaver

I was much further from retirement age and cashed out some of my IRA. The way I looked at it, I deferred income from a year where my marginal tax rate was quite high, to one where it was close to zero. The funds from my IRA were taxed at something pretty close to a total of 10% from the penalty as opposed to the 27-35% tax rate of the years when I was stocking away the money.

I do not have experience on the other side of things. I looked into lending to myself at market rates, which seemed appealing, and doing deals from a self directed IRA where I would have to make sure it was 100% disconnected from me, and the IRA was the only one benefitting. This seemed a bit challenging for long term buy and hold, but maybe worth it on buy and holds.

Seeing what zoning will allow is the first step.  Sometimes you can get a variance if you can convince the city the project should get a variance or perhaps a zoning overlay.  That is typically very challenging.

Another possibility beyond multi family is townhomes.  

In my market they do not require permits for many types of repairs.  Though to get a tax abatement permits are required.

Unless the only thing you are interested in is the expected return then it is going to be pretty hard to quantify.  There are other important factors to consider besides return for an actively managed asset, and it will really come down to personal choice once you learn what the pros and cons of each are to you.

Yes, builders risk and general liability.  Errors and Omissions may or may not be relevant to you. Workers compensation insurance as well. I am not sure how much you need, but I know I have seen contracts for residential construction that call out 1 million in liability coverage, and some that are 1 million with an additional 1 million in umbrella.

Welcome to BP. Do you have any details on the flip you are currently doing? What neighborhood is it in, what is the scale of the flip?  

@Adriane Boggs commercial code requires all doors leading to an egress stairwell to be fire rated. I believe 90 minute rating.

It is possible the trap has dried out and you are smelling sewer gas.  All you need to do for that would be run water through the drain.  

Replace drop ceiling tiles, clean hard surfaces, paint the walls, possibly flooring.

@Gaby Liu Those areas are not my specialty, but I would say tread with caution as an out of town investor in those areas. People I know that have success in Price Hill have intimate knowledge of the neighborhoods.

I would recommend working with a Realtor that focuses on investment properties, especially off market deals such as @Slocomb Reed

@Brian Downs welcome to the forum!

@Joe Fairless hosts a meetup that meets up next Tuesday. There are plenty of others who use the BRRRR strategy that attend.

https://joefairless.com/best-ever-cincy-meetup/