All Forum Posts by: Joe Kling

Hi Jerry

I can't open the pdf. Where is the property? 

Joe

Hey BP

I remember listening to podcast where the guest had purchased HUD/MLS listed homes sight unseen in out of market areas. I wanted to go back and review what he had done. Can anyone remember which episode this was?

Thanks guys

Joe

Hey Vincent

I tried to avoid posting when I don't have much value to add. At the risk of violating that rule, I think the real answer to your question is in the deal. If you buy low enough you should have the equity to either fix and flip or BRRR. There should be roughly the same margin for error on each. If you buy at 50% ARV and put 20% back into it for rehab youre sitting at 70% ARV. If you're selling you should have enough margin to make a decent profit, if you're refinancing you should be able to get 70% out without too much hassle. If you start investing more than that you're going to have trouble with either strategy.

That would be great @bill Wicker. 

Would you prefer I email you directly?

@Bill Wickerundefined

Hi Michael,

Thanks for the referral.  I sent Robert a message.

Joe

Hi all,

Can anyone suggest someone in the Baton Rouge area of Louisiana to give me a rough estimate of the value of some condominiums?  The properties are currently two  adjoining 4 unit apartment buildings which we will be converting to condos.  

I am looking for someone outside of the deal to give us an outsider's opinion as to the value of the properties after converted, but in the current condition.

Can you suggest a real estate agent or someone to perform a BPO?

Joe 

Hello Doctor

can you send be info on the multifamily? Where is it located? 

Joe

@Alex Hamilton

Thank you. I did not realize there were 2 companies. I'd like to speak with you about some of the oportunities you have available now. I left a message on your office line. 

@Alex Hamilton 

according to the HUD website one of the characteristics of a CHDO is that there be no individual benefit:

No Individual Benefit. No part of a CHDO's net earnings (profits) may benefit any members, founders, contributors, or individuals. This requirement must also be evidenced in the organization's charter or articles of incorporation.

I'm interested in the deal.  It seems what you're offering would be a benefit to the potential landlord, however.  Can you shed some light on this requirement? 

I am going to begin attending FIBI in Pasadena but have not been yet. I'm also in the process of figuring out how to modify BRRR to implement it remotely. Some say you can't do it unless you'rein the market but I'm trying to figure out how to do it.