All Forum Posts by: Dustin Faeth

I am working on doing a 2-yr lease option on a current property I own and looking for a good credit repair specialist/company that is local in Columbus, OH that I can utilize for any potential tenants interested in the lease option but have credit issues that will need resolved over the 2-yr lease so they can hopefully qualify for a mortgage and purchase the property by the end of the lease. Thanks in advance for any suggestions!

Thanks guys!

Are there any good service sites available online or companies to use that I can have potential tenants submit an application to, that will check credit, criminal history, eviction history, etc?

Great...thanks for the feedback Ryan and Joe

Is half a million enough liability coverage for a rental property, or should I carry $1M or even more? Or does it depend on the bedroom count and how many tenants may be living there?

Does this remain constant for properties I purchase to rehab and will own for a shorter period of time?

Hi Tom, I appreciate the response...when I mentioned that the properties would be sold at a good deal, I was not referring to the seller saying it was a good deal...through my evaluation of the areas and the rents, and overall price of the property, I was calling it a good deal from an investor standpoint.

To the equity partner in the deal, I would say that what I bring to the table is a great cash flow opportunity that I located, and they are investing the cash for the project and making a solid ROI, while I handle the acquisition and management of the property.

As I said, I'm open to any suggestions on ways to build the rental portfolio, and structure deals without being able to get a conventional mortgage, or tie up a lot of capital right now. I could also sign a contract with the equity partner, putting up some assets as collateral, or sign a promissory note, etc.

I have been coming in contact with several different motivated sellers lately that have cash flowing rental properties here in Columbus, OH that they are interested in selling at a good deal, because they no longer want to be landlords...I would like to start increasing my rental portfolio with some of these properties, but the only problem is that I don't have the cash to tie up in a long term investment right now, and I'm self employed and can't qualify for a mortgage...what are my options??? Open to any suggestions....Thanks!

Hi Anthony, I'm an investor in Columbus also and have used Northwest Title on some of my recent transactions and they are good. They are off Dierker Rd. up near Bethel and Henderson Rd. area on the Northwest side of Columbus. Their phone is 614-451-6313

Small Rehab with Huge Income Potential! This 5 bed, 2.5 bath, 1704 sq.ft. duplex needs minor rehab to become a great investment opportunity to rehab and flip or rehab and hold as a rental property. With an ARV of $60,000 once rehabbed, and a CAP rate of 22% once occupied with tenants (factoring a total monthly rent of $1100), this is a great deal for investors who want to flip and make some quick cash, or hold and have some steady cashflow, and short payback on their investment.

Message me with your email address if interested and I will email a complete wholesale packet with additional info and pictures/videos of the property, along with deal analyzer and estimate of repairs. This one won't last long, so contact me ASAP with any questions, or to view the property.

3 bed / 1 bath / 864 sq.ft. with additional living space in full basement. Property is in good condition with newer roof and mechanicals. Current tenants pay $610/month and on a 1-yr lease that expires September 31, 2013. Typical rent for this area is $650-700/month, so there is definitely room for more monthly cash flow on this property. Asking price $23,000. CONTACT ME IF INTERESTED AND I CAN EMAIL YOU A DETAILED PACKET FOR THE PROPERTY INCLUDING ALL PHOTOS. Thanks

Dustin