All Forum Posts by: Dori Arazi

I have a bird-dog finding me out of state distressed properties and a contractor lined up to do the work. Is there a scenario I can set up where someone can purchase the distressed property on my behalf? 

These are all cash deals.

 No worries. It’s always hard to make the call. You either risk starting a topic that was already discussed or risk derailing a similar topic ;) 

Hello Columbus REs, 

I'm an investor from California looking for out of state, value-add investment opportunities. I''m very much new to the area and would need to start form the ground up. Any advice or contacts would be greatly appreciated! 

Ah, got it. Thanks! 

@Michaela G., thanks for that angle. I didn't consider it.

Do you mind elaborating a little on how a high earnest money offer can help sweeten the deal? As you mentioned, I tend to put down the earnest money contingent on inspection. So if the deal falls through the seller will not be seeing that money. I'm trying to fully understand the added intensive. Is it purely a psychological show of intent? 

@Caleb Heimsoth, moderstely experienced in my local markets. I’m confident about the numbers. Though this would have been my first out of state rehab. 

Agreed. I'm trying to figure out the most ethical way to do it for the tenants. Putting it as part of the offer seems like the best approach. 

@Brian Garrett, If I did have a solid team in place, how would you handle the tenant situation? 

I just got access to an off market deal for $150K. Its a 1550 sqf duplex, looks like its in pretty bad shape on the outside. Its been cited by the city for siding repairs and yard neglect. Comps for equivalent properties in the area or in the high $300k. property is currently generating $1400 a month, though can easily generate $2800-$3000 with good repair (based on surrounding comps). Seller will not let me see the inside of the property, to "not disturb the tenants". It might be a full rehab + HVAC scenario for all I know. This would be an out of state investment, so there is an added challenge there. 

The issue is that this duplex is occupied by tenants who have been renting the place for many years. How does one handle a situation like this for a BRRR strategy?

Also, I don't have a super solid team set up in that location yet, which makes me somewhat nervous to jump into this level of unknown. 

Thoughts?

Thank you for the insight guys. That was very helpful!