All Forum Posts by: Christopher Blanco

@Jay Hinrichs, it varies from city to city, but most POS inspections require the seller to fix the issues found, or the buyer to assume them and agree to fix them by a certain date. In some areas, its as easy as assuming the major violations (roofing, windows, sewage, etc) , fixing them, and having them reinspected. It can be as hard as an area called Shaker Heights where the POS inspection violations include things as minor as rattling doorknobs. In Shaker you also need to get a Shaker certified contractor to bid out the POS fixes and then you need to put 150% of that cost in escrow until the violations are fixed. 

Hello @Erin Berlin. Welcome to the group!

CPA's do more that your taxes. Mine helped me organize my business to maximize tax savings, even before I had a single property. Plus at $600 a year for unlimited support, strategy, and taxes (business and personal) its well worth it. 

I am under contract with my first property! my last post was deleted because I included a link to my website. :-( So I missed all the comments I had :'( Any way I am really excited to get started and plan on blogging the whole process on my website. Thanks to biggerpockets for all the help!

I started out looking to flip houses. Then I started reading and researching more and decided that I would let the property decide my exit strategy. I want to do both. I want to flip to build cash, I want to do BRRRR to build a portfolio. I want to make this a business, so the avenue that takes me there is the one I am going to take. I am not interested in 1 or 2 investments and then I am done. When I come across a deal, I analyze it as a flip first, then a rental. When I get beat out, its normally in a multiple offer situation. 

I used Wheeler and Sons, fast, inexpensive and nice work. 

Unless you can turn that 1 bed into 2 or 3, I wouldn't take this deal. You will never get rid of it. 

@Brad Fausett I am getting beat out on every offer I put in. People are overpaying for properties by quite a bit. The last few I got beat on were flips, the last rental I got beat on, someone paid almost 11K over what I would have offered. I am ONLY interested in C and up and will not go into the D neighborhoods in Cleveland. If you have some properties that you need to pass up on, send them my way! :) I am happy to pay finders fee for anything I close on.

For calculators I am using the spread sheet software called HouseFlippingSpreadsheet.com. Its the software J Scott recommends. It does flip, rental, and wholesaling calculations. 

Sounds to me like you need to get your financial house in order. Can you work two jobs for a year? If you get a part time job and use nothing of that money to live and sock away 10K, by next year you will be in a much better position. While you are at it, save up $500 and get a secured credit card and start building your credit. 

$10000 sounds high for a replacement to me. Is there complications to running the ductwork upstairs?