All Forum Posts by: Jeremiah Helg

You can send me the information and I'll see what comes up.

Quote from @Brian Mackey:

Quote from @Jeremiah Helg:

Hey, Bigger Pockets community. I'm looking at a multi-family deal in Baton Rouge. It's a triplex that has been recorded as a condo and can't go conventional unless that's changed. My questions as a prospective buyer is: What's the process for changing such a recording? Is there someone to reach out and talk to that about that specifically? And finally is it all on the seller to have the recording changed? 

Where at in BR?? I’m an investor in the area as well. And that’s a great question… I think the seller would have to change that.  Are there other units beyond the sellers that are part of this condo association??

It's a triplex located in East Baton Rouge parish. I'm not sure if it's okay to post a link here to it though. 

It's just all three units of the triplex listed. I don't think there's other properties tied to the condo association. 

Hey, Bigger Pockets community. I'm looking at a multi-family deal in Baton Rouge. It's a triplex that has been recorded as a condo and can't go conventional unless that's changed. My questions as a prospective buyer is: What's the process for changing such a recording? Is there someone to reach out and talk to that about that specifically? And finally is it all on the seller to have the recording changed? 

My lender will only allow me a minimum of $75k and I want to make an initial offer of $55k on a property I recently viewed. Are there other mortgage lenders that will lend $50k and up? Is there a work around to my problem?

I happened upon a listing that is a multi-family property; however, the property has two buildings that can be considered homes of their own. My question is would the commercial zoning the properties currently have get in the way of selling them individually if I were to flip them? If so is it easy to have a property rezoned to sell as residential properties?

Let me know if my post is lacking of any information, first time asking this kind of question.

First some general questions: 

0.5: Do you know your credit score? If not I would suggest beginning to build what credit you can. (Added because of list 2).

1: Do you know much are you able to save monthly? What is a rough estimate of the money you have saved? The quicker you can answer this for yourself the better. (I can save about $500/m and have about $7000 saved if you count all of my assets). 

2: Do you have or need a lender? If you need access to capital a lender can get you there faster but you'll need a decent credit score, aim for 600+. (I'm currently at this stage and anyone past this stage with better knowledge can chime in and supersede anything said beyond this point)

3: Find a deal. (From my understanding a buyer can back out at any point before a purchase is finalized. This gives adequate time for property assessments to be made and negotiations to take place before you are left holding the property).

4: Fix it up. (Make sure you pay attention in the assessment step and set project budgets especially an unforeseen repair budget and calculate those out before you end up eating into your profits).

5: Network with a few local area real estate listing agents that can get your flips to the masses. (Be sure to set S.M.A.R.T. goals to achieve the best results)

I'm not writing anymore beyond this point as I am still learning and it wouldn't hurt you to do some more research on these things yourself, hopefully you have the jist of where to begin.

Disclaimer: I'm new to real estate investing and have been researching it.

@Michael Hudson, I live close by and am just starting to learn REI. If you ever need an extra set of hands I don't mind pitching in as I want to learn as much as I can. I'm in college for business administration, as well as a full-time supervisor at wal-mart. I'm available 2 days a week (Tuesdays and Wednesdays) currently so hit me up and I'll see if I am free that day to help out.

While I've just started studying my local real estate market I don't have too much information to give you; however, I'm actively building a sample of houses that have sold in the Ponchatoula area within the last 18 months. Once I'm done doing my data analysis I hope to put together an investor pitch that will help me secure funding for future flips and BRRRRs. I'm only a month in roughly studying all of this though so I'm still very green around the ears. 

@Kyle J. Thanks for the advice and detailed response.

@Clint Shelley. Do you know what I would need to look up in order to possibly acquire the property via the tax route? Thank you for your helpful advice.

@Kyle J. Thanks for the advice and detailed response. 

My brother lives near an abandoned property that has been vacant for 10 years now. I was able to identify the owner via emailing the tax assessor for our parish and have mailed 2 letters both to their current address and the abandoned property's address. So far no one has contacted me, and I've been looking into adverse possession laws in my state. I'm mainly curious if I were to pay the property taxes for the property would I be able to cover the risk of them asserting possession after I have paid the taxes? (E.g. Is it possible to work with a lawyer to get in writing that if the property owner claims ownership of the property that I am entitled to the reimbursement of the funds I spent paying off the taxes?) 

I am actively trying to reach out to the owner, not trying to take what hasn't already been abandoned. Just want to clarify that.