All Forum Posts by: Michael Magno

Flipping is a job, and isn't for the faint of heart, especially for an OOS investor. I might recommend you try to do a deal locally first, learn the ropes, and then consider expanding. 

The liens will need to be paid off at the refinance, as the new lender, will require a First position lien on the property. This is the problem with doing a "Quit Claim Deed" as you didn't do your due diligence, which could have prevented this. Now it's on you to pay the liens off if your "family" doesn't want to cooperate. You own the property. 

I believe this is going to be specific to your particular mortgage documents, and how the lender wrote the mortgage. 

As the old adage goes, the best time to buy real estate was yesterday, the next best time is today. Much like the stock market, time in the market, always trumps "timing" the market. That being said, all investors have different goals, etc. 

Where in Ohio?

Personally I send a questionnaire to perspective tenants that outline the requirements for my rental. Once they complete the pre-screening questionnaire, I schedule a bulk showing, think open house style, for all perspective tenants to check out the unit, and allow them to apply after that. 

Welcome to BiggerPockets! I am sure you'll find lots of great resources to help build your investment team! 

Depends on the class of the asset. C class or worse, you may be inheriting someone else's headaches. B class and up would be better. 

C-TOWN! 

I charge $50 per side in my duplex. I've seen this vary around town between $25 up to $100k depending on the size of the unit.