All Forum Posts by: Dave Cali

What type of properties do you manage? What software are you using for the financial and work order process?

Research, research, research! Also one most important point. Never, ever use any of your own money. Borrow from a bank, lending institution, capital partners etc. If it fails you can't get burned. Set up an LLC. GOOD LUCK

Sounds good. Let me know when & where.

#1. are two families allowed? if not then you will have to go for a variance or other entitlements.

#2. A price PSF is difficult because you will need to know what quality to build at. Could be anywhere from $85 to $200 PSF.

#3. You will need to hire an architect/engineer to establish the project specs and scope.

Happy to help.

You have to do your homework. One of the things i learned is that its usually attended by most of the same investors. They know about each other and what their weaknesses and strengths are.  The bank doesn't care about zestimates. They want their money. Before you bid make sure you know as much about the property as possible. Are there any liens, oil tanks, tenants, structural issues, code violations, etc, etc, etc. If you want to learn more, My wife is RE Agent/Broker and has extensive experience in the process/paperwork.

Yes, you can go to any sheriff sale and just watch. It's a public auction which is always in the public notices section of your local paper. Usually once a month auctions. The banks will send a rep to bid on the property usually starting at $100. There is also a dollar amount established by the note holder which they will not take less than and therefore will bid up to the outstanding amount, typically. Hope this helps.