All Forum Posts by: Joey Palmer

Hi guys/gals,

Does anyone in the Greater Cincinnati area know of any bank that offers HELOC or some type of line of credit on non-owner occupied investment properties? I used Huntington for (1), but they only let you have (1). Any referrals would be greatly appreciated.

Thanks for your time. 

Hi everyone, 

I've finally gotten a seller I've been working on to sell his investment property to me. Better yet he wants to sell it to me under a land contract. Due to some tax reasons he stands to walk away with a better balance next fall (Fall 18'). He lives out of town and in the meantime I would take over management (land contract). 

Let's say we agree at $150,000 price due September 18'. How are land contracts set up? I plan on getting a RE attorney involved but wanted to understand the basics first. Would I pay him the mortgage plus $/month in the meantime. Would someone please share they're experience or knowledge of land contracts please? 

Thank you!

Hi there. I'm looking at a property in Cincinnati, Ohio, the Pleasant Ridge community. It's located next door to a property I already own. The two properties were once co-owned by a couple, and since we couldn't afford to purchase both at once, we purchased the first one and now we're *almost* ready to snag the second. Since we don't have all the funds for a down payment at the moment, the seller is willing to do a Land Contract. Questions:
1) Have you purchased a property using a land contract before, and if so, would you do it again?
2) What is considered normal for the seller to do while the land contract is underway in terms of paying the mortgage? 
3) Should I expect to act as the property manager during the land contract term?
4) What pitfalls should I be aware of in terms of the contract language and potential problems?

Thank you!

Good afternoon BP members,

I was listening to BP podcast 205 (Jered Sturm) this morning. My ears perked up when I heard him talk about sub-metering a new apartment complex he had. Now, I'm not into apartment complexes rather 2 - 4 families. Has anyone successfully sub-metered (water) they're 2 - 4 unit property. If so, can you break it down for a dummy?

After a quick search I found "American Water & Energy Savers" website. They offer some type wireless RF sensor that can be monitored from across the country. 

Any advice would be very appreciated. It seems like a relatively easy way to increase my NOI.

Thank you! 

Hey guys, 

I work with Chuck Vonderhaar. He's great, R.E. investor himself. I highly recommend him. 

@Zac Winkle

Joey

Hi Ben, 

I've worked with @Adam Curry in the past and he was exceptional. 

Good luck!

Hi Barb, I utilized a renovation loan through Wells Fargo. They completely financed my rehab costs. I simply had a down payment of 25% of the totality of the loan (home price + renos). It was relatively painless. Please PM me if you have any questions. 

Good luck!

@Max James I just sent you an email w/ my guy's information. I got similar results when shopping around this spring. 

Hey Max, 

My wife and I just had one of her former colleagues at the publication "Skinny Mom" take pictures of a flip in Hyde Park (only lasted 18 hours on the market w/ her pictures). She cost $150 but as you can see from the pictures she was well worth it. PM me if you'd like to contact her. http://heartsandcolorco.pixieset.com/hydeparkhouse...

Take care!

Hello Sue! 

@Adam Curry would be a great resource for you. His speciality is working directly with investors. Best of luck!