All Forum Posts by: Ryan Saulle

Hey @Daniel Rossi we’re in central jersey. We host a meetup every 4-6 weeks, happy to connect.  

Hey BP!

Looking for a second market for short term rentals or AirBnB’s in Florida. We’ll be visiting Jan 24-29 checking out a few areas: Boynton Beach, West Palm Beach, Delray and Palm Bay. Heading back in a few weeks to check out Tampa, Saint Petersburg, Sarasota and Fort Myers. Any insight on laws or anything regarding these cities would be helpful. 

Thank you!

Ryan

Hey BP, see below:

Position Goal:​ Assist the project manager to coordinate & oversee renovations of all projects.

Overview: The purpose of this position is to assist the project manager from acquisition to disposition. Work with the project manager to formulate a plan for all flip projects and see to completion on time and on budget. Relay project process to the project manager on a weekly basis. Goal is to assist the project manager to help improve processes and foster relationships with contractors.

PM me if interested!

Thank you,

Ryan

Hey @Joseph Ranola, hope all is well. Short answer: if they’re passing on the deal, they probably don’t think it’s that good of a deal. If that’s not the case and you’re confident it’s a solid deal after running the numbers, I’d lock it up and partner with someone for the financing. Shoot me a text tomorrow, curious to see some of the deals you’re coming across!

Hey @Danny Randazzo, is this event still on?

Hey all heading down to Charleston SC September 2nd - 4th. Would love to connect with some local investors to talk real estate before or during the visit. Thanks!

Hey @Richard Parseghian

We remove all tanks (mostly post closing) in order to resell. If you are flipping or selling down the line you will need to do this for a conventional or FHA buyer. We also do sweeps and soil tests on all our properties prior to closing. We once did a soil test that came back clean, then got hit with a contamination invoice once the company removed the tank. I won't put the company's name on here but reach out to me regarding this company so you stay clear of them and their shady actions.

If you plan on keeping it as a rental, you do not have to remove it and can operate the property with oil if you choose to.

1. The oil tank removal company usually drains it but charges you OR you can have oil drained prior to removing the tank and sell the oil.

2. Yup, you can do an oil to gas conversion. If leaving radiators, would cost you about $5-7K (roughly $1.5-2K to remove tank, $4-5K for furnace / conversion). If you were adding forced air and all new duct work would be upwards of $12K.

3. It's tough to get anyone to 100% guarantee there will be no contamination when removing but we have a good tank guy who's honest and fair. He removed about 8 oil tanks for us and we haven't run into any issue. 

4. If you're buying "As-is" / from a distressed seller, not likely. If you're getting a loan with a bank, your lender will most likely require the seller to remove it prior to closing.

Hope this helps!

Feel free to shoot me a PM directly with any questions.

Ryan

@Iverem Rose We actively invest here. Feel free to reach out anytime. 

@Kevin Romines Appreciate it Kevin! 

We will be occupying 50% or more, will look into SBA loans.

@Fasil Khan sorry, let me try to elaborate. 

Looking for feedback on any type of owner-occupied business loan for a mixed-use building (2 units). 

The borrower being a business (not personal owner-occupied). The business will be occupying the commercial space downstairs and the residential unit upstairs will be rented out to a tenant.

Does this make a little more clear?