All Forum Posts by: Scott Schultz

The the variable I dont now is that 3+ units require Fire suppression, as well as stamped engineered prints in many municipalities, as well as added municipal hook up and impact fees. first you need to research the government fees, and what they will require of you, it is not unreasonable to have $10-20K spent before the first scoop of dirt is dug, Even a SFR where I am building I spent $6K in permits, surveys, and plans, the plans were the cheap part at $1,100

its gona run you at minimum $130/sq ft but probably closer to $160/sq ft, much will depend on foundation, permits, and lumber prices, Current umber prices you will probably be closer to $175-180/sq ft, but when prices come down so will the per foot price.   But we are now seeing PVC product shortages, 1-1/2 & 2" pvc pipe, and electrical boxes are getting scarce, so that may be the next price hike. 

Not sure if ABC out of Wausau would, they go to Woodruff for me, but otherwise  Lakeland Rental Management in Minocqua, they are expensive tho.

@K. Dailey why would you do this? Most of us prefer separate utilities and furnaces, we make our tenants pay their own utilities

@Diamari Smith do both buy a 2-4 family and live in one unit

@Nathaniel Vance if you have an enforceable contract that’s not an issue

@Judy Paley. Commercial doesn’t do 30 year generally, if it doesn’t cash flow on 15 or 20 year it’s not a good deal, I’ve seen many investors do 25 year amortization and need to bring money in at renewal because values had slipped and nothing was paid down. Lots of risk with long amortization with commercial financing. I never go more than 15 year amortization

please read this thread: https://www.biggerpockets.com/...

Honestly you have $3,250 tied up, oh well, is that money gona break you?  You can renegotiate, or let it sit, I really dont know why they cant fix it now, there are days they could do the work, I know plenty of brick masons that work all winter here in WI.  

Let me throw a wrench into you lawyers theory, Read your loan docs. Most Commercial/portfolio loans reach across all properties and entities. The protection only comes into play in liability, borrowing at a professional level, there is very little protection. This is why I advocate Low Debt. This puts you in the drivers seat and it’s not a problem