All Forum Posts by: Paul Amegatcher

@Anthony Mirabile

$60k reno is a lot for 2 units that are 775sqft each. I would get multiple bids before I commit to the renovation budget.

@Andrew Hawkins Are you looking to house hack with the VA loan?

If she doesn't want anything to do with the property you can always try the following two options:

1. Quiet title action - You may win be default judgment if she fails to respond. This will remove an interest she has in the property.

2. Forced sale occurs through a partition lawsuit. A partition lawsuit (also called a partition action), is a court process to divide up a property between co-owners.(copied from google search).

Either way its better to pay her directly than to sue her. Good luck.

@Ben Roberts

Start with local credit unions or smaller regional banks. You would be amazed how many of them will finance a property like that with 20-25% down at a 30 year fixed rate mortgage. I sold a property to an investor in Dayton, Oh for 28k and he was able to get a mortgage from a local credit union with 25% down. His monthly P&I payment was less than $110 a month. The property sounds to be in decent condition so i would look there first. Good luck.

There is a local meetup in Fairborn every 2nd Monday of the month for the Dayton area. It is a great place to network with other investors. @Darrin Carey runs the local meetup and has a facebook group setup as well. I look forward to seeing you there in the future. 

@Brian Tyler

I grew up in Oak Park, Il and now live in Dayton OH not far from Cinci. I would choose Cinci over Naperville. The cost of living is much lower in Ohio. Chicago has better food but Cinci is not bad either. It just depends on if he has a connection to the city or not. Its a good position to be in.

@Steve B.

This is not a true or fair statement. The opposite is actually more in line with reality. My wife who is a physician would not risk her license to sign off on a crazy persons ESA paperwork.

Another lender to consider is lima one.

@Jases Brown

No. No. No and No. It never works out. Trust me. Do the work up front and charge market rents. You will come out a lot better than having a tenant complete the repairs.

I use direct mail and got my list from listsource.com. I then used yellowletters.com to mail the postcards. You have to have a plan in place on how to handle the incoming calls and how to screen the potential leads. You can also look into facebook advertising. I started a campaign about a month and a half ago and I have one deal so far from it. It looks promising for the future.