All Forum Posts by: Carrie Giordano

@Russell Brazil @Sarah Ziehr thanks for the info. It is interesting how vastly different areas can be!

This may be an area specific question but how flexible is Fannie Mae HomePath on pricing? I have heard that they don't budge much on pricing but will make repairs. Normally, offering all cash and no contingencies with a quick close can persuade sellers to accept a lower price but will this work with them?

Hello, 

I live in Los Angeles but invest in my hometown in Ohio. Up until now I have bought all of my deals off of the MLS. I am looking for a way to be more proactive and find more and better deals. It seems like a marketing campaign to the area I am interested in would typically be the way to go. However, I'm unclear on whether or not this is possible being that I live out of state?

I do have family there that may be willing to help but am not sure if this is really a feasible option for an out of state investor.

Hooray! I finally have my permit!!! It took almost a month for me to receive a permit to put up a single wall! The cost: $75, plus an extra $75 I gave my Dad to help out in obtaining it. First inspection is set for Tuesday.

The electrician came this week and got his permit the same day and finished the job. Unfortunately, he didn't have time to get the inspection and left for Florida for over a week! He thought I could do the inspection but when I called they prefer he be there.

As a side note the project could have been finished three weeks ago had it not been for the issues with the permits but right now it is so cold in Ohio that it's not a prime time to rent the house anyways. So I am trying to stay patient!

@Kevin Darrell thanks so much! I'm just completing my first Brrrr which is on this property.

On Monday, I spoke with the city inspector who informed me that I also must add heat to the bathroom.  I resubmitted my drawings for the permit. He called me later that day and asked me to add a few more things to the drawing.  I did and immediately sent them over hope in my permit would be approved by the following day. Come Friday I still had no permit and was told it would be on the agenda first thing Monday morning. 

Cost to add heat -$140

@William S. I think it's a great choice to focus local. When you are doing the math don't forget to figure in capex as @Cliff Harrison mentioned.  As someone who only invests out of state (my local area Is too pricey) I will tell you it can be very stressful. Even if you pay a little more close to home in the long run I don't think you'll regret it!

@Jen R. Good luck with the rest of the project! I have not heard of anyone using used cabinets but they look good from the pic! Where did you find them?

@Rollan Dizon After finding BP this past year I also became very interested in small apartments. It seems that many, much more experienced investors believe it is the way to go. However, I have yet to find a deal that the numbers look better than on my sfh rentals. Currently, I have four sfh in northeast Ohio and would like to add 3 more to my portfolio this year. My goal is to obtain 10 rentals in Ohio and then branch out to a new market. I have yet to decide on what market that will be. I've never done turnkey but probably will once I invest elsewhere. Good luck in 2016!

@Rollan Dizon very cool, congrats on starting running out of the gate! What goals have you set for 2016?