All Forum Posts by: Micah Shelton

@Jonathan R McLaughlin goodnideas as well. I think some exterior plants would make it more homey feel. We had staging in our original budget but cut it as we ran long and funds diminished. 

One realtor in our area suggested pull listing. Add deck and privacy to side yard. Stage it. And then relist one March 1.  Not sure if I would re-list at same price or not if we did additional work to the home. 

@Nghi Le good ideas and I will look into the refi option for sure. I am in a 12% hard money loan at present. I’ll crunch some numbers on going to an 8% loan and keep a little longer into spring. 

@Mike Nuss Yeah I agree with that. There have been a few in the $375 range with one less bedroom or one less bath, not as updated and some without garage. I appreciate the feedback....sometime better to cut a loss than sit on something to long. Just stinks

@Jeff S. R5 and in a decent neighborhood. Has a detached garage that could be converted into a separate dwelling. 

@Mike Nuss  5811 SE 102nd Ave. Portland, Or is the address. It’s a corner lot with 5k sq footage. Basically a 6’ run across the entire back of home. Decent side yard. 

Thanks Ryan. Yeah looking at possibly re-financing into a rental as an option. 

A flip that hasn't sold question...I have a 4 bed 2 bath home that we fully renovated. We lowered the price 10K and have had great showings. All feedback has been positive and no one balked at the price. The issue seems to be that as a corner lot it has no back yard, just a large side yard...should we privatize the side yard with fencing and add a deck (roughly $3k) or lower the price again? We are approaching the 6 month mark on our hard money and will receive a $2k fee as well as a march payment. As it stands we are flirting with breaking even either way we go due to length of project and reno overages.

any thoughts would be much appreciated

Working for a client that found a SFR with a permitted MIL. The unit has its own entrance, kitchen, bath, laundry. Question: If the space was permitted as a MIL does it need to be a permitted ADU to be rented to non-family?

If it needs to be converted, can he just pull the necessary system permits (splitting electrical, HVAC) vs going through a complete build permit since the space is already a finished livable space?

Portland, OR

@Neal Collins thx for that. Who do you use for your insurance as a developer? I’m finding that many agencies don’t want to cover Developers and that it is higher premium than a CG insurance plan.

My company has flipped several houses. Some of them were bought in my personal name, some in my company name (s-Corp) in the past I have been classified as a Residential Developer and then hired a GC to facilitate the construction components of project. Question: Do I need to to be a developer requiring fees to the state and special insurances or can I simply own the company, own home, pay a contractor(s) to do the work and then sell? I’m in Oregon if that matters. Just trying to streamline my process.