All Forum Posts by: Christopher Kaflik

Motivated seller is trying to get rid of a property that is in pretty dire condition.

It definitely needs a complete gut job. New roof, porch, everything. The only issue is it was built in 1840. Would it even make sense to go for a place like this? 

It has potential as a cash flow cow as it has 5 bedrooms and is minutes away from a major college.

251k ARV

It's 2500 square ft to give you an idea of how much work would have to be done. Two stories with a basement.

Who knows if you tear it down to the studs if those would have to be replaced as well. Probably not up to code either, I haven't seen the place physically yet as I am not even sure it's worth looking at.

Offer / Or run?

@Michael Swan

Did you fly out to Ohio to look at and buy all these properties or did you visit once and then did it over the phone via a management company?

Thanks for the explanation! That makes sense. Although I would probably only agree to a shorter term exclusivity contract, say 45 days, in case it doesn't work out for me. Or how about if I find a property and that agent is listed, then I could do an exclusive contract only on that property. 

I just don't want to get into something I'm unsure about right off the get-go.

Fortunately we're in this together and she's very supportive of the idea of REI.

Hello BiggerPockets!

I am SO glad that I have stumbled into this wonderful community. My S.O. and I have been reading as well as listening to the pod-casts for a month now. 

For about a decade I have wanted to get into REI but each time it just seemed like so much to know or seemed just out of reach. Now I'm finally taking a serious dive into it as I am more comfortable with my financial situation.

First thing we're looking for is to network with others. We are located in Connecticut and on the border of Western Massachusetts. 

From all the reading we've done the first thing we're trying to do is get a list of people we can work with. Our power team. Since we're mainly going to start with assignments, we're looking for cash buyers, real estate agents that can provide us with properties and an attorney to go over any forms we might be using.

So far the couple of agents I have called fell through as they wanted to be worked with exclusively or kept canceling on us when we wanted to view a property. 

Is it really a hit or miss for these types of things? Are we just going to have to call 50 agents and see which ones will work with us the way we want them to?

Do we need a CPA right away or can that wait until we've done our first deal?

Would anyone be willing to give us some suggestions on who they like to work with in CT or MA that are helpful to investors?

Thanks for being a wonderful community and I look forward to growing with you all!

Chris & Laura