All Forum Posts by: Justin Hammerle

@Jose Goncalvez - I know FL is tough right now but it appears to be breaking both the 1% and 50% rule even with the increased rent, I would pass and spend time looking at other properties.

@Ryan Emrich - Great deal and good read on the details.  I noticed a big gap in mid-tier commercial MF in MA.  So much competition at 200+ and under 10.  Not so much in between.

@James Valice - there are many variables of why a deal may fall through that could really just be circumstantial.  Sometimes deals arise for the very reason of other buyers being turned off by the past history; if you analyze a property on paper and the numbers work, continue your DD until you know for sure its not worth your time. 

@Jake Andronico - you really can't go wrong following his advice from a personal finance standpoint.  but his view of debt use is a bit unreasonable if not dogmatic.

@Ashley Turner - Air BNBs are getting hammered throughout the country with regulation. I believe NYC just mandated that you cannot have a STR unless you are occupying the property.. WHAT? I think your only option as many have already suggested is to lawyer up.

@Owen Concaugh - Pre-approval process is generally similar but you should be aware that FHA loans are generally more strict on property condition for final loan approval and are sometimes looked at as less favorable from buyers in comparison to buyers that have approved conventional mortgages.

@Liz Llamas - Assuming you already have decided on a specific market to invest in.  It would be important to build your team; mainly a REALTOR, Property Manager, Lender, and Contractor.  Would recommend reading "LONG DISTANCE REAL ESTATE INVESTING" by David Greene.

@Travis Andres - Even with looser lending restrictions its hard to fail under the 70% rule, whether BRRRR or just flipping.

@Jon Dorsey - I've tried this on a few occasions, my experience was that the mills around here are very specific on the size and straightness of the raw lumber.  I would reach out to a few lumber mills in the area and if there is any money to be made I'm sure they would take them down at no cost or even pay you.

@Sushree Mohanty - Yes, recommend looking into FHA options if qualified.