All Forum Posts by: William Sing

Hey Duane, 

If you have an agent, I'd talk to them and see if they can find out some more info on what the situation is for the weird re-listing situation. 

Do you know how much the reno would be? That will really tell you whether or not that is a good deal. I'd probably work on getting it under contract then do your due diligence on everything. 

If you had to only put 30-50k into it, I think it'd be a pretty good deal. 

A certain percentage of the HOA needs to agree to it. When my Dad's HOA disbanded (in Oregon City), it required a 90% agreement from everyone in the HOA. You might want to go to the local code enforcement office as well to see if you can get direction. If you want to go to the attorney route, check out Shawn Morgan https://www.morganlawpdx.com/

Check out RSW Building - https://rswbuilding.com/ Bob and his son are fantastic. They have gone through the 203k process numerous times and are recommended by the local HUD professional I used for doing the 203k loan. Shoutout to @Julee Felsman too who is a great lender who has some actual experience with doing 203k loans and is an investor herself. 

Check out Colbalt CPA https://www.cobaltcpa.com/ They are a local CPA group here that work with investors. They have a few different plans since last I talked with them. Hope that helps! Chat with Bryant who is great!

That has definitely been the case. Anything on market, especially given how low the supply is has been going way over asking. A lot of agents I know have been trying to list so it doesn't become a bidding war but they still turn out to be that way. 

Hey Shaghayegh, I hope I'm answering the right question but I'm guessing you want to earn money helping others find their dream property? If that is the case you could look into becoming a real estate agent. If you are advising people money wise, you could look at partnering with a builder in the area as well to help build dream homes. 

Agreed!

First off, congrats Tuan on this huge accomplishment!

As for your question on how to reduce your risk. You'd have to put the entire property under an LLC. Usually, this isn't a huge issue but just be aware of the due on sale clause. I would look more into insurance umbrella policies since you don't have a larger portfolio that might be an easier than moving everything to an LLC.

Hope this helps!

Depending on how many properties you have, you could check out Buildium. Appfolio is also pretty good. If you wanted to pair some other software together Zapier might be helpful as well. 

Hey Kobey! 

You can check out this website: https://www.hud.gov/states/pen...

I'd also check with a local REIA or local land lord association. They will usually have classes going over the big stuff along with premade forms you can purchase.

DM me if you ever have any other questions!