All Forum Posts by: Adam Craig

 Right now it is 4 units. But one of the units is so large (used for small/medium sized law firm) I wanted to break it up in hopes of having better success renting it out quick. So you are saying leave it as a 4 unit and it would be beneficial? 

 Follow up question - This is a 4 unit office and the plan is to convert to 6 spaces. When I looked for comps I went back nearly a decade and I was unable to find what I would consider a comparable - this is an old historic house converted to office space. There are around 8 other properties in this down-town area like it but not have sold. How are commercial lenders going to determine the value - comparable buildings or the rent coming in?

 I have never owned a technically historic home - but most of the homes I rehab are from 1920-1950. This one is from the late 1800's but was completely gutted and renovated in 1988. What would be different?

I am looking to purchase a historic house converted to a 4 unit office building right in great trendy downtown area - I would be converting it to 6 spaces and using one space for my own business. The price is 275K.

I have been getting some push back from the commercial lender I use because the building will be vacant on transfer so it will take a small cosmetic 1 month rehab and some more time to get it leased up. So my DSR had to be good enough to carry the whole loan assuming I get 0 rent which was going to require more down.

I am now thinking about doing what I do with my single family BRRRR. If I purchase this with hard money, how soon can I take it to a bank to get it refinanced? Soon as I have signed leases?

Looking for some color suggestions where the front door and shutters on this small brick property.

I have done many auction.com/hubzu/xomne purchases. I want to dip my toe into court house steps because I have purchased some of my flips from these guys and I buy many properties as/is with no access inside on auction sites.

In my research it was not clear - Do I need to have a title search done on these properties or can expect them to be free/clear of tax liens and clear title on transfer?

Hi all -

When we flip homes we have been going with some really popular grays. This one is half red brick so I am not sure any type of grey would work. Any suggestions are appreciated - painting the brick possible but here in Cleveland market with the winters we have no maintenance brick is appealing.

Good stuff ! You saved me alot of work putting 50+ transactions onto a spreadsheet :)

Thank you! I do believe I have a tenancy to give too much information. I have been reading books/podcasts/youtube on raising capital. Part of the reason I was thinking of creating a "flyer" about myself is incase I ever do any direct mail marketing to doctors/lawyers people with money. Or if I am ever in front of these people it would be nice to hand them something after I give my pitch?

I have been doing real estate 8 years. I have purchased and rehabbed more then 50 homes and sold more then 30. I have a 32 rental units and plan on moving into apartments I am at the stage where I am going to try and get off/reduce hard money and bank and create a pool of private investors. I am currently working with 3 but I think its just the tip of the iceberg. 

What is a good way to present myself? In addition to my pitch, I want to create a investor profile flyer letting potential lenders know who I am and what my track record is.

Do you think it would be good to list every deal on an excel sheet with address/buy date ect...? Or is that overkill.

Thoughts appreciated!