All Forum Posts by: Jordan Butz

@Remus Phillips I'm living more towards the Madison area but the area this property is at is right above UAH on the other side of University Dr off of Bonnell Dr

@James Rodgers I hope so I'm getting in touch with GC's at the moment to get multiple bids on everything from roofing and tree removal to a general overhaul on the inside.

@John Leavelle I have heard about it but I haven't yet gotten around to reading it. That is definitely a book I do need to get my hands on one.

Is a general contractor the best route to go for this? Or should I break it down further and look for a specialist in each field?

Hey BP I have been scanning properties again and did a drive-by of a property in my neighborhood and it was a fourplex in my neighborhood that was in desperate need of some TLC. The grass looks as though it had not been cut in a minute and the foliage is getting out of hand. I drove up to it did a walk around and found all the windows to be busted in along with the doors and some of them boarded up. One AC unit was actually missing! On the inside it is easy to tell kids would come in and hang out and get wild as there were dozens of liquor bottles and cigarette butts strewn throughout all the units.

The carpet was horrendously stained with God knows what but luckily it didn't smell as bad as it could've thanks to no windows :) Holes in all the drywall and most faucet heads missing. In fact, there was even a hornet's nest in the upstairs unit. The weird part is the man who owns it still pays taxes on it... 

But my real question is, is there a line you as an investor will not cross when you are looking at homes in despair and in terrible condition? What kind of projects will you just not touch with a 20 ft pole?

@James Jay alright I will! Be on the lookout for it

Hey, thanks @Michael Tincher ! I definitely would look forward to connecting with you and helping each other out!

@James Rodgers the church is just going to write a check and call it done I believe that's what he said

Hey there BP community,

I was just talking with my friend here at work and we got to talking about real estate and how he something already in the works. He has 48 acres of land split between 3 other siblings (12 acres each) and was approached with an offer from a mega church wanting to purchase 25 acres of the plot and while the church was just planning to pay cash for it, his question was if they are selling to a church do they get any tax benefits/deductions from such a transaction. 

Thanks!

@Chris Ready yeah you are totally right! Most of them were selling for around that price range so they were not being too realistic especially with the condition the property was in. I believe the most I would've offered on that property was 100K

Unfortunately, @Drew Brock I wasn't able to make it work I got a chance to speak with one of the owners and the wife was tired of taking care of it but the husband was now having second thoughts about selling it. Two days after I looked at it, they pulled it back off the market so maybe some time again in the future