All Forum Posts by: Grant Patmon

I have used "rent a center" as well as picked up discount furniture and home good knick knacks from discount stores like marshals wall-mart etc. and can stage a home for the fraction of the price. And you get to keep it all in storage for the next flip.

I was going to go to that last meet up too but ended up having to work. Aka met with some buyers and got in contract :)... Then the contract fell through :( but would totally be in to go if another one in Columbus was on the books.

I have been doing that here in C-Bus for the past few years. It works great except... Your debt to income eventually maxes out! :( I was able to buy 5 units that way while in school with a very low income though. Now I'm flipping to raise my income to buy more rentals via the BRRR strategy. If you have a high taxable income you will probably have quite a bit of success doing this.

I would avoid the wood on the floor, it can get torn up so easily. But stone countertops on the other hand is more durable than laminate tops. It took some shopping, but I have been able to find great deals on granite slabs in the 100 dollar range and have found an installer that can install at really good prices. All said and done I get granite tops for only a bit more than I would pay for premium laminate tops. For me it's worth it because it's more durable and granite really pops when prospective tenants and buyers come to take a look.

You should consider talking to family or close friends with money. It will be very hard to find private money if you have not done a deal, not impossible, but very hard. People get private money when they build trust and a strong relationship with their private money lender. It will also be hard if you don't show a history of previous deals. Friends and family on the other hand may throw money your way if there is a good foundation of trust and you have a solid business plan. Hard money, regular bank loans, and your own money are also very good options but not without their own difficulties. If you do get money be very careful when choosing your first deal. A lot deals that look promising can easily turn to disaster if you don't get the numbers right and loosing someone else's money in my opinion is way worse than losing my own. Good luck!

I think you need to start thinking about what you bring to the table for the mentor. In sales it's never the buyers fault something went wrong it's the sellers. And right now you are selling yourself to potential mentors. Do you have cash that they can borrow or a long list of applicable skills? Probably not. But do you have a can do attitude? Are you willing to meet a plumber at 3:30 on a Saturday morning at one of his apartments for an emergency? Possibly. Would you paint an apartment that he is turning over because his painters are busy working on other units? Possibly. You are very correct in that people do things out of self motivation. So start thinking about what it is you can do for a mentor not the other way around and one will literally fall into your lap.

Usually pulling up the carpet and pad as well as hitting the sub floor with a couple costs costs of good oil based primer will solve the problem. But... Not always. Just depends on how bad it is.

Hey welcome to bigger pockets. It's always nice to see other young guys on here! I'm just up the way in C-Bus. Pm me if there is anything I can ever do to help.

In my area, Columbus Ohio, the would be illegal (practicing real estate without a license) as you are taking a commission off the deal. The way wholesalers here get around that is by selling the contract, which is different than making a commission,or by actually closing on the house and then selling it. Only realtors working under brokers or brokers themselves are allowed to facilitate the sale of real estate for profit of property that they themselves do not have a stake in. You should really consider getting a good real estate attorney on your team, it's honestly too expensive not to. Good Luck!

Sounds like you did alright. If you want to squeeze a bit of extra money out of the deal as you should, then you need to contact your county auditors office about lowering your assessed value. They will more often than not change your assessed value to the price you paid for the property if it was purchased in an arms length transaction. This could potentially and easily save/earn you an extra $1000-$2000 a year.