All Forum Posts by: Grant Patmon

I have done a number of BRRR deals in Columbus. The number one thing is getting your numbers right. The number two thing is being prepared to challenge your appraisal. When you sell a flip the appraiser gets a copy of the purchase contract and rarely appraises under the contract price. On a BRRR there is no contract for the appraiser to work off of. As real estate values are fairly subjective and the appraisers job is to protect the bank, the appraisals typically come in lien. If this happens you must formally challenge the appraisal or worse, at times switch lenders.

If your wife is inheriting multi family properties in multiple countries my advice would be to study up the best you can on property management so that when the time comes you have the knowledge and tools to hire a quality property manager for those properties. There are many property managers out there that are bad at what they do. If property management is not chosen wisely you can loose a lot of money very fast.

Key Realty. You pay a yearly fee and keep 100% of your commissions. Inbox me if you need any more information or contacts. Very investor friendly. Be as involved it uninvolved with the brokerage as you want.

Great job indeed! I'm curious about your lender as well. P.s. I have heard poor things about combo washer dryers. I would look into the apartment style ones that are attached up and down but not actually combo.

Great post!!

Hey Jon. I would like to speak about your GC service.  I will inbox you.

Chris Schoonhoven I would probably not take a property there even if it was given to me. Cap ex. And tenant issues will eat all of your profits unless you want to be extremely hands on. Which is doable if you have boots in the ground. If you want to be hands off you will have a hard time finding a local and reputable PM company to manage it. It may be close to one of the nicer areas but perceived and natural barriers make the two areas very different places to invest.

Congrats on the purchase and project! I hope things go well!

Google "HUD Home store" "homesteps.com" and "homepath.com". Those will get you 95% of the REO's on the market. If your looking for a solid agent with solid investment experience feel free to inbox me.

Just get it while in college. Assuming you want to be licensed in Ohio all you need to do is take 4 classes and a test. It's actually really easy. Some in state universities offer the classes for free if you are already paying normal tuition. Good luck!