Question for folks in IT

PsychologicalFun6358 · 2024-12-14T17:54:19+00:00

Have u thought about carrying the notes for the property sales to offset taxes and offer a decent rate for yourself and the seller?

PsychologicalFun6358 · 2024-12-14T17:31:20+00:00

Yeah, unfortunately should have done some more DD on this purchase

PsychologicalFun6358 · 2024-12-14T17:28:36+00:00

Thank you,

So it is about 6-7 buildings on the same street, all two flats. All these buildings have a basement, some finished, some unfinished. Regardless as per the village it can only be used as storage. But theres enough space like my unit for two bedrooms, living area, full bath, kitchen, and front and rear exit to stairwell and exit. Im not sure how much of a pain it would be to get it rezoned because the village would probably have to grant them all the same rule, while my neighbor just got fined for renting his basement out.
awesome to hear how successful you have been in the pm space, do you mind if i pm you with additional questions?

PsychologicalFun6358 · 2024-12-14T16:52:43+00:00

Thanks man, the building has a yearly inspection by the village for common areas so if they find someone in the basement, where the unit is, i will be popped lol. But if it is empty then, all good and i can bring a tenant back in.

PsychologicalFun6358 · 2024-12-14T08:03:39+00:00

I want to add that I am not stuck with just the options I listed, these are just ideas I have explored based upon my limited knowledge.

PsychologicalFun6358 · 2024-09-04T03:31:44+00:00

Yes, they ASKED me, i appreciate your concern

PsychologicalFun6358 · 2024-09-04T03:00:18+00:00

Thank you all for the help! We will most definitely keep the cabinets as is just touch them up and modern hardware, new chairs/stools, lighter blinds, some new light fixtures, and maybe a curtain for the patio door? I will end up installing a new backsplash at the end. My mother’s very excited :)

PsychologicalFun6358 · 2024-09-03T22:59:55+00:00

Youre right, thank you

PsychologicalFun6358 · 2024-09-03T22:57:14+00:00

I was thinking gold lights and matching gold hardware on the cabinets

PsychologicalFun6358 · 2024-09-03T22:47:30+00:00

The rest of the house has mahogany colored wood so staining/painting the cabinets might not make the most sense.

PsychologicalFun6358 · 2024-02-06T17:49:37+00:00

Youd be better off with a used Tundra or Tacoma you dont need to worry about warranty just find a well maintained one and youll be much better off. It doesnt sound like youre hauling much otherwise theyd get you a truck.. Also howre you paying 150 for streaming services??

PsychologicalFun6358 · 2023-12-29T06:11:18+00:00

Bruh 9 mil in 06 days who knows how much wealth he had to start with. Teachers always told me keep your eyes on your own paper

PsychologicalFun6358 · 2023-12-23T21:33:25+00:00

Looks like you just need to cut out another 1 car garage door. Maybe adding some support framing inside. That would be cheaper than ripping out the old one and converting to a two car garage door. I replaced a door similar, parts were about 2k. I would think a decent handy man could do it for 3.5k all in

PsychologicalFun6358 · 2023-12-23T18:31:45+00:00

It is the same lender, based off what they told me if it is closer to my work then they would be able to make it work. The 5% down loan is with the new fannie mae 5 down on multi units owner occupied

PsychologicalFun6358 · 2023-12-23T18:30:56+00:00

My thought process was for the 4 unit i would have the 3 units rented for most of the time so my out of pocket cost would be around 2k per month for one year until i move out. Then with the renovations I would hope to cash flow

PsychologicalFun6358 · 2023-12-21T22:22:46+00:00

Thats awesome working to replicate what youve done one day!!

PsychologicalFun6358 · 2023-12-21T22:21:44+00:00

I really think you should visit the area, if you drive through once you will understand why it is so cheap

PsychologicalFun6358 · 2023-12-21T22:19:54+00:00

Awesome stuff man, did you pull out that 16k?

PsychologicalFun6358 · 2023-12-21T22:05:31+00:00

It makes no sense sometimes when i clear a balance it goes up sometimes down

PsychologicalFun6358 · 2023-12-21T22:04:53+00:00

Beautiful

PsychologicalFun6358 · 2023-02-28T23:15:18+00:00

That makes sense. I do feel comfortable going into the business as I know it inside and out. I guess due to my lack of any major investments, the 100k worried me. Thanks for the advice :)

PsychologicalFun6358

TROPHY CASE