All Forum Posts by: Grant Thompson

William,

Great to hear! Our team does a lot of long distance investing as well. The local team is crucial!

Hello James,

If you are attempting to BRRRR this one it appears you need to purchase it for significantly below $320k. My back of the napkin math for BRRRRs is Purchase Price = ARV * 0.7 - Rehab Costs which comes out to around ~$238k based on your numbers. Hope this helps!

Feel free to DM me if you have any questions.

Hi Marky,

I have head it done before. If these items are a deal breaker for you then I suggest asking for a lower price. I doubt the seller wants to make the repairs if they let it get into this condition in the first place. Worst case you walk, best case you can come to some agreement. If these items don't break the deal, is it worth risking losing a good deal

We have experience with section 8. There are definitely some horror stories out there with regards to having section 8 tenants, but we have had no issues with any of ours. Make sure your PM is experienced with section 8 before choosing them to manage your property. Having a large portion of your rent guaranteed one nice advantage.

Feel free to DM me if you have questions!

I'll send you a recommendation in your DM. I have been very please with this company and they do up to 75% LTV on cash out refinances.

The boat sounds like a HUGE liability for a STR. Disclosure: I don't own or operate any STRs.

Hello Brandon,

Glad to hear you are finally making the leap! My DMs are open if you wish to network or run your plan by an extra set of eyes.

Hello Eugene,

We use NREIG (https://nreig.com/) for insuring investment properties in LLCs, their coverage is tailored to the needs of investors and their customer service has been good in my experience

Hello Goanar, welcome to the BP community! It's great to hear you are getting interested in real estate from a young age. I got started in RE shortly after graduating college, feel free to reach out if you wish to connect.

Best of luck!

@Davere Currie

Hey Davere,

Cleveland is much more granular than just East and West. Generally speaking though, East Cleveland is pretty rough and uninvestable unless you really know what you are doing.

Check out this guide by James Wise.

https://www.biggerpockets.com/member-blogs/4704/blog_posts/42419-cleveland-neighborhood-grades