All Forum Posts by: Justin Hammerle

@Skyler Carpenter - 30% is a great return.  Can you not start putting some of that cash flow back into the property to get it to a manageable state?  Or is beyond repair?  You still have equity working for you.  

If the repairs are reasonable, my vote would be to stabilize the existing property and look to scale to another compounding both equity and cashflow.

@Nick Buonanno - I've had some success with direct mailers but generally as Amber mentioned getting someone on the phone is going to get you to the answer much quicker.  It wouldn't hurt to do both.

@David Vallieres - congrats on your first LT investment deal!

@Daniel Toy - I would reach out to a few commercial brokerages that have retail relationships and gear end user interest for your area first.  You've already identified a few sites, so once I knew there is genuine interest I would leverage the broker relationships with end users to figure out the best structure for the build out and lease.

@Julie Nealey - No, unless the sellers agent have given them permission to do so.

@Amanda Mark - I would say no. If the zoning allows for a 2-family, and the property is a single family, that is its use.  You will need to retro the property as a 2-family to change its use from SF to Multi, the municipality would then have to inspect and deem it as a legal conforming 2-family.  Residential zones will sometimes allow multiple use types as long is it falls within residential.  

@Robert Salazar- it wouldn't hurt to have your property manager there to answer any questions and to keep the property secure.

@Daniel Kohn - depending on how much equity you have, you could also consider selling your existing 2-family, which will free up your ability to use an FHA for a property with 3-4 units. It is much easier in the long term to scale 3-unit+ properties versus 2 units.

@Brandon Ly - in my experience, if someone has gone out of their way to get an atty involved it can only mean more costs and stress for everyone in the long run.  I would as soon as possible reach out to the atty whether you personally or your own atty and see if there is a quick an easy solution for both parties; like splitting the cost to take it down.

@Eddie W. - I would explore using a mixed-use HOA if the residential developer is not opposed to it.