All Forum Posts by: Jeremy Robinson

Hello again all! I just purchased another home in Greer SC. It looks to be the cheapest in the neighborhood, and needs a full remodel. I will be doing most of the work myself, but I am running into self conflict by trying not to over build for the house. It is a modular home, with a marriage wall, part of which I would like to beam and remove. It has a 3 car garage and full basement, with interesting land, about 3/4 of an acre.

Anyways, I am brand new to this part of the country and have no network. I need advice on layout/design, electrical plumbing and structural, but mostly on a consulting level, enough to keep me up to code, and legal, without over improving, and allowing me to do most of the work.

Plan is not yet clear, I still need to get a grasp on this market, but renovations are a must and I will be living in it during. After, I'm considering it for either a rental, or possibly a flip depending on what the market does.

Thank you all!

I have been wondering the same thing about local meet ups... I'm not finding much, so I am considering starting one up. I am a small fish in terms to what a lot of others have to offer so am looking to find others to help me start something up. I mainly focus on multi family and own out of state (Utah).

"The questions on people’s minds, are we getting a Target, an Olive Garden, or is Google coming? No answers on that but KPVI will continue to ask questions." This is the closest thing I could find in regards to Google in Pocatello. Both Boise and poce are on my radar right now. I have been getting a lot of leads from a wholesaler out in the pocatello/northern Utah area about MFs with some really decent cap rates (9-12%).

I am sold on keeping the property, I have a great interest rate, and was just listening to the radio and it mentioned that the Fed is raising rates. even at 10% I can cash flow positive, I am just missing the additional support element. I actually want to buy more properties, but that seems unrealistic considering my situation, but my work posts for my housing during my stay in Japan, and if I get the other unit rented out and cash flow, I can come back with a substantial amount of savings. I'm looking into purchasing in idaho, I hear there are good returns there. the kitchens are bad, the precis owners did not screen well, and there is damage paint can't fix. they work, but I don't like them, so maybe it's an emotional thing I need to let go of. 

I just want to say, everytime I post on here I get such great responses from so manyy kind and knowledgeable people. it warms my heart so many people are willing to help and provide input, this really is a great community BP has cultivated all thanks to you guys. 

So thanks for the replies, I should provide some details I suppose. The duplex was built in 1999, I bought it for 210k, each unit rents for $850. my mortgage is about $1100 a month, so if I had both rented I would be cash flowing about $600 a month. I know it's not the best, but deals were hard to find and I pulled the trigger. I'm a stranger in Utah, I only have a few acquaintances that I work with, and no one I can rely on for back up. I'm not very social, or good at networking. was working on that but now this new was dropped on me. I'm not sure what to expect with property management as far as rates go either, still green. I think the units have a potential to be rented for more, 2 beds, 1 1/2 bath. it is a real duplex, not a conversion, and zoned as a mfr. I would like to keep it, but logistically for a newbie, it might be a bit much. As of now, there is a 90% chance of me going to Japan for 3 months, that won't be a problem, but after, there is a 60% chance I will be asked to stay and get my visa in Japan. It is very exciting for me, but my real estate aspirations will have to be put on hold in the mean time. I think if I redo the kitchens I could get $950, and I priced the cabinets at Ikea, each one would be around $3k if I did the labor myself. 

Earlier this year I bought my first duplex in Ogden Utah, just north of salt lake city, things have been great, living in half and renting the other, but now my company is probing me for a potential mive to Japan. I will be going in January for at least 3 months, but after that I have to get a visa, or claim residency there. so now I'm trying to figure out what to do about my duplex, I am not very well networked in utah, and now I have to think about renting the half I live in and getting a property manager, or just selling. anyone with experience or advice? 

I too have just started my investment career in ogden, I just bought my first duplex a couple of weeks ago. I'm interested in meeting local investors but the closest reia I found was in Sandy... just putting it out there, but I would like to try and get other ogdenites together to network! 

I did not mean to reply to my own comment... I was trying to edit my post, my auto correct is crazy, it changed short sales to sorry ales...

short sales with a VA loan are almost impossible. I found that out recently. If the property had investment potential others will also offer, and a va loan is usually the last one looked at because of the requirements associated with it. I just posted my story if your interested how some of the process goes.

Sorry ales can take a very long time, sometimes up to a year. It's very possible that the bank will assess the house and come back at a higher price. Short sales also are sold as is, so if the VA appraiser finds problems, you would have to fix then it off your pocket before the loan would even be approved, a very risky situation to be in.

Best of luck to you, I have to au it is a very rewarding process!