All Forum Posts by: Ian Gilligan

All the Columbus investors showing out! Might buy there one day but staying in Dayton for now. 

Hey all! 

Looking to connect with any Ohio investors while at the conference. I've been buying in Dayton for the past 4 years. Let's touch base!

Hi Tanvir, I'll be there and am looking to connect with other Ohio investors. I've been buying in Dayton for the past 4 years. 

Hey guys, 

Should a lease for a medium term rental be drastically different than it is for a standard long term lease? If someone has a medium term lease that you use, could you share? Thanks!   

Hi @Roy Massey,
Just curious what you decided for this. I'm in the exact same situation on a BRRRR... trying to make the best decision from a value perspective. Thank you sir!

Hi all, 

Talking with a seller tomorrow about buying a duplex from him Sub To. And I'm probably an idiot but I can't seem to figure out what exactly happens when I take over the payments. Am I sending his mortgage company checks with my name on them? A little confused... Thanks much. 

-Ian

Hey BP, 

An investor is willing to sell my partner and I a package of 6 homes. Would be buying pretty significantly under market value, with rents very under market. Once vacated, they'll all need to be turned, to varying degrees. I am trying to figure out how best to structure this deal so that we'll be out of pocket as little as possible, but also not have to come out of pocket a ton on each rehab as they become vacant. 

Maybe finance them, and have an equity partner provide down payment? Could we also have equity partner provide draws for the rehab? 

Also considering a big private loan, but as there's no telling how long before some of these will be vacant (they're all MTM but don't want to jack up rents so high that everyone leaves) so I don't want to be in private money for an indefinite period of time... 

I've never bought a package before and just need some insight regarding possible ways to structure. 

Really do appreciate your thoughts.
Best, Ian.

Hey all, 

I have a 425sqft add-on (was added on to the main house years ago; isn't reached by HVAC from main house) that I need a heating solution for. About to be occupied by a new tenant. There's already a window AC unit that functions great; I'd rather not lose that unit and install an expensive mini split... 

Any baseboard heating solutions or anything of the sort you can recommend? Need something more permanent than a plug in space heater or something like that. 

Really appreciate any thoughts.

Best (and Happy New Year!), 

Ian

@Rene Owczarski thanks Rene, they asked me for a letter from my employer saying I’m approved to work remote, which I am, and which I provided them. So it looks like that letter covered me on that front?

Hi all, 

I'm presently living in CA, considering buying in TX to work remote, and house hack. Only way I can make it work is if I put 5-10% down, which I know you can only do if it's your primary residence. Question is, if I get called back to the office/CA before year 1 of occupancy (which is highly likely) am I in danger of mortgage fraud? 

Thanks a million!