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All Forum Posts by: Stuart Birdsong

Stuart Birdsong has started 10 posts and replied 297 times.

Post: Developer fees on mid-sized residential project

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

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

Post: Contract

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

@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.

Post: What is your one liner to stay on track with REI?

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

'Hope for the best, prepare for the worst'

Post: Help me I'm having buyer remorse

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

@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

Post: Loan 75% LTV with no down payment?

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

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

Post: Brand New

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

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

Stuart

Post: Realtor Says DEAL.....I Say NO DEAL.....What do you say?

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

@Austin Faux

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

Post: What do you want to read about on the BiggerPockets Blog?

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

@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

Post: Joint Package 2 Property FHA Loan

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

@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.

Post: I Would Not Be Buying U.S. Real Estate

Stuart BirdsongPosted
  • Investor
  • Fort Collins, CO
  • Posts 304
  • Votes 112

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!