All Forum Posts by: Account Closed

All great information....Thanks for all the replies!

MikeOH,

Thanks for all your direct and indirect advice (from reading your responses to other member's posts.) I visited your site today and like your philosophy with rentals and just purchased your book! Thanks again for the advice and that appreciation stretches across the board to all the active members who offer invaluable advice to us newbies.

Congrats, and thanks for all the detail, this is very helpful for us just starting out!!

The question I have is regarding Rehabbing distressed properties and then using them as rentals. Do any of you focus on this type of investing? If, so what formula ( or guidlines, no one formula ) do you use to determine your purchase price? I am familiar with the ARV formula for flipping but would it be the same if you decided to lease the property versus selling. I am really interested in this business and would appreciate any feedback/direction/books regarding distressed to rental properties.

Thanks for the quick feedback!

First off I would like to say this is an amazing site and I have learned a ton from all the experienced real estate pros.

I have a question regarding a rental property that is currently leased to very close friend of mine, and the owner has never been very good with the maintenance. Have any of you, contacted owners out of the blue via email, phone, ...etc, asking if they would consider selling. If so, what was your strategy?

thanks