All Forum Posts by: Jaran Ramsey

Does anyone know how to effectively report a tenants delinquent payments to the credit bureau

In my opinion, you only fail in this business when you totally stop investing in real estate because of a few bad deals. In fact, mistakes will be made but we have to stay committed in the long run. We can’t quit because of a few miscalculations, just learn from them. Real estate investing is a marathon not a sprint.

@Jaran Ramsey on a 4-Unit Multi-Family

In general, how much should an investor walk away with in profit on a property? Or, should you walk away with profit per door?

@Frank Wong Great Point! I appreciate the feed back!

@Russell Brazil my agent says it doesnt matter, however I was thinking that if it doesnt matter why would price per sq ft be included on the comps, I could be overthinking it, just want to make sure that my offer is not overpriced. This is a unique situation since the only thing I can compare it to is a 4-unit that sold last year and single-family residential homes on the comps.

I am currently in the process of purchasing a Triplex right now,and based on the comps the averages are about $81 sq ft for that area. However, based on my offer I’m at $113 sq ft, now here is the catch this is the only Triplex in the area, and the only thing that is closely comparable to the Triplex on the comps is a 4-Unit that sold last year which SOLD at $75.06 pr sq ft. Is this sq ft something to really take into consideration? It’s kind of difficult when you don’t have a SIMILAR TYPE OF PROPERTY to compare the Triplex to based on the area. Thoughts?

Ohio has some of the most affordable homes around, does any one know of any hard money lenders for flips?

Appreciate the feedback from all!

I have a property up under contract In Cleveland, OhIo and my lender advised that he can’t close under the LLC and I probably would need a commercial loan? Is that true? Are commercial loans better than conventional loans? What other way can I get my property under an LLC?