All Forum Posts by: Stuart Birdsong

@Sibley Simon Typical developer fees in Colorado, depending on size of project, range from 8-15%. Most fall around 10-12% in my experience. 

@Alex Wentland Does your contract have a section that addresses assignment/ assignability of the contract? I am not a lawyer so this is not legal advice, but if a contract has a clause that states the contract can be assigned, and you have been transparent with the seller regarding your role as a wholesaler than you should be covered. However, it would be wise to have the addendum for additional transparency regarding your role in the transaction.

'Hope for the best, prepare for the worst'

@Chris Parker Don't trust Zillow. It is a highly overrated information source. 

Did the property appraise at value, the purchase price? If you are renting out both sides for 3000/month these are some tight numbers. Cash flow may be challenging. If you are house hacking, and 60% of your mortgage is covered, well it's cheaper than the alternative. Just a thought

@Suzanne B., Are they advertising 75% of LTV or ARV with no down payment?

@Joe Orr Welcome to BP, Joe! Best of luck to you in your pursuits!

Stuart

@Austin Faux

PM me I'll gladly share the comps with you. You're correct in your numbers for the most part.

@Mindy Jensen, I am fascinated with learning more about Business Development and Unique Marketing strategies. Of course, I don't expect anyone to disclose their trade secrets. 

I, too, am interested in being able to follow a writer. Thanks

@Adam Fuhrman

FHA, in accordance with Fannie and Freddie regs, will only provide lending for 1-4 residential units, so long as you occupy one of the units. Anything over 4 units is considered commercial. However, you may be able to purchase them with separate contracts and loans for the 2 4-plexes. FHA for the one you live in and Conventional for the other. But don't quote me on that, I am guessing that you may be able to do it that way.

Unfortunately, his statement is too broad, and productive Farm land in the United States, is a crap shoot, so how does he see this as a valuable asset class. It's too dependent on changing weather, government subsidies and the commodities market to be a good bet. However, we are due for correction, much like the stock market. It will have a much larger affect on markets that have been inundated with foreign money, and are now seeing reduced returns. I, personally, am not overly concerned about what Jim Rogers has to say, but, I have been wrong before. I was told that I should stick with solid fundamentals and have a stomach for the corrections as these will principles will make for positive long term returns. Cheers!