All Forum Posts by: Tony Santos

Thanks for the replies. Yes my ultimate plan is to just install vinyl over it. I just heard horror stories about the asbestos shingles breaking while nailing (without a nail gun) the vinyl to the shingles. But what you said @Matthew Paul makes a lot of sense. Thanks everyone!

Hey BP,

I am currently looking at a home with asbestos shingles. The shingles are in extremely rough shape and I want to install vinyl siding on the home. I am aware of asbestos shingles and how they break extremely easy if you nail into them. My question is has anyone installed vinyl siding over asbestos shingles? Do you need to get the shingles removed before installing the vinyl siding? Typically, how much does it cost to remove theses shingles? I've been doing research online and I am getting prices and information thats not even close. 

Thanks!

Hey BP,

So I am currently in a negotiation with a bank owned property. I unfortunately hit my MAO and we are $15,000 apart. I know patience is key and their motivation changes over time but are there any special or "hidden" techniques some use out there? I was thinking maybe send out my same offer again but with a clause stating they own 50% of the profit for anything over $140,000 on the resale. (My ARV is $130,000 so that really wouldn't effect me). But, again, are there any hidden techniques out there that will maybe entice a bank to accept one offer over another, other than the givens (cash, no contingencies, etc)

Thanks guys!

Tony Santos

Real Estate Investor from Massachusetts 

Kyle Cabral

Hey guys, I was just wondering if anyone has any samples on different forms you have contractors sign before a job. If not samples then advice. I want to make sure all of my contractors are on time and stick to a strict schedule. I have a couple forms I've found on online but I was wondering what everyone here uses. Thanks!

Hey BP,

So my partner and I are currently in the market for a buy and hold. We currently own a single family buy and hold where the numbers made so much sense that we didn't even have to analyze. Now that we are looking at bigger units 4-12 we have to crunch our numbers. We first decided we need $200 a month cash flow from each unit for it to make sense. Brandon Turners 50% rule and his opinion is $100 a month. Attached is an excel sheet which we created showing a current 6 unit which we are analyzing. We are slowly coming to a conclusion that we are too conservative and $200 a month for each unit will be hard to come by. We threw this exact offer in Brandon Turners 50% rule and if my memory is correct it shows 27% ROI and the $100 a month per each unit. So in that case this is a homerun and a no brainer to buy. But in our case and with this chart we created its not... So what does everyone think? Are we being to conservative? Also I would love to hear how everyone analyzes their deals.

Thanks BP,

Tony from Massachusetts < (keyword alert purposes :) )

Hey BP,

I currently bought a single family home under my business name. We bought the property with private money (a family members HELOC) and now we are looking to re-fi. We want to re-fi into a commerical loan because we want to keep it under our business name. This is our first buy and hold as a company so I want to make sure I am not missing any helpful hints. So I have two questions-

1. Any recommendations on this re-fi process?

2. Any recommended banks or mortgage brokers you recommend in Massachusetts? 

Additional info-

Purchase price- 85k

ARV- 210k

Rehab- 2k

We are looking to do this no cash out of pocket. Thanks!

sorry for the mis-spelling! 

Does anyone have any secrets, tips, or hints on how to find a "Pre Foreclosure List." I've been asking around and different cities and different towns give me different answeres which is expected. But the majority of the answers are "ummmm no we do not provide anyhting like that." I spoke with a wholesaler a while back and rookie mistake I never collected his information. But long story short is he gets all of his leads through a direct mailing to pre- foreclosures. I am currently in talks with one city that says they might be able to provide me with an "at risk or potential forclosure properties." I am very excited to hear their feedback but in the meantime is there any sites, tips, or recommendations anyone has?

Thanks BP!

ps if you have any similar tips for eviction notices I'll take that too :))

Hey BP, 

My biggest weakness in my real estate investing so far is estimating rehab costs!! It drives me nuts. Does anyone have a particular sheet they use to help them out? I understand and I'm pretty good at finding what needs to be fixed but pricing it out kills me. I am also a home inspector for an energy conservation program so like I said finding the problems are no issues. Please if you have any resources or sheets you would like to share I would be very thankful for it. 

Ps yes I've read the book on flipping houses by j. Scott :)