All Forum Posts by: Brad Peralta

Hi, I am looking to invest from out of state in the Columbus, OH area. Where as some areas or zip codes I can start to look at that are B/C neighborhoods? Thanks!

Hi, I am looking to invest from out of state in the Columbus, OH area.  Where as some areas or zip codes I can start to look at that are B/C neighborhoods?  Thanks!

Thanks Mike. Yes I'll need to see a lot more than the MLS photos. The part I struggle with is do I have my agent walk through several properties a day based on the initial numbers I get from analyzing? For example, if my initial rehab estimate comes in low when analyzing and makes it a good deal, I will want to do a deeper analysis which involves having my boots on the ground visiting the property. I doubt my team would want to visit a number of properties daily. How do I avoid getting false or very inaccurate rehab costs initially and wasting my agent's time? I guess I can assume for the worse and pad my rehab costs as you mentioned.

When analyzing out of state deals on MLS or Zillow, how do you estimate your rehab cost? Is it based off the photos or virtual tour available online? What if little to no photos? According to some BP posts/webinars, one should try to analyze about 10 deals daily to practice/start.

How would you know if this BRRRR deal is right without getting a somewhat reasonable rehab cost before placing an offer? I'm a total rookie so I have no experience whatsoever in estimating a rehab cost. I've read J Scott's Estimating Rehab Costs book but it seems more relevant when someone has access to property or when you have an inspection done during the contingency phase. What am I missing here?

Great list!  Thanks for sharing!

Newbie question: If you have a HELOC where you can pay cash for a property and rehab (BRRRR), is there ever a case where you shouldn't do that and explore other financing options such as hard money, private lending, or a down payment with a conventional loan, etc? What would be the advantages/disadvantages of doing an all cash deal vs a down payment with financing? Thanks!