All Forum Posts by: Derrick Brigham

Wow very helpful answers. I now know I can get better numbers for trash cost. And lookup the water sewer for myself. This is great and time savers for analysis. 

I will post what I find in this thread for future reference for a ten unit in Canton city.

I could use some comparison numbers for a 10 unit apartment my partners and I are considering buying. What are your utilities in Canton Ohio for apartment buildings? I was given two conflicting numbers for water and sewer. One said $4,000.00 per year the other said about $135.00 per month. Any input would be helpful. 

I already asked for the actual bills from the seller but I would like to see some real examples of others if possible.

Thanks.

First off, termites  can do massive damage. Get a pest control company in right away and kill them. Second they have probably done more damage than what you can see. Bottom line is take action right now as delaying this process will cost more money the longer you wait.

I hope the damage is minimal and good luck!

Brenda,

also ask lenders about a conventional rehab loan. 203k is a tough loan with lots of red tape. A conventional rehab loan still has extra steps but should be easier to get from a lender if you qualify.

get ready for massive record keeping with either one. And money management.

I have been more successful using trustworthy hard money lenders than banks, but I'm still learning and growing.

good luck and never say die!

Kevin,

I think the only difference between you personally having the title in your name vs the LLC name is how you file taxes. The bank account you use doesn't matter personal or business. However a business bank account setup with a EIN number does have many benefits that could help show profit for your business after two years of owning it so you can get loans under the business name instead of against your name/credit. My debt to credit ratio is maxed out so I am working this stratigy now.