All Forum Posts by: Justin S.

 I think that's what @Brice Hall is truly searching for- someone to convince him where that sweet spot is. He has no problem casting shadows but it's truly with the hope of seeing the light. Good Luck, Brice!  You can do it!

So, in Ohio, a positive test within the home will result in a condemnation pending remediation. I would check with whatever your equivalent to our Health Department is. If it's the same in Co, that would obviate the need for an eviction. Good luck. 

@ 1,200 in Gross Rents with an $850.00 mortgage payment, after maintenance, CapEx and vacancy, where do you expect cash flow? Is the $850 with the full rehab budget?

To me, the numbers don't make sense especially in light of the added expense of the necessary repairs.

Just my opinion, but I would walk away.

I recently bought a small Duplex @ $22,500 with a $35K rehab. I'm all in @ $57,500. It has an ARV of $90K and I am doing a Cash Out Refi with PITI @ $550. Gross Rents @$1200. My margins are still tighter than what I want but it gets me to my next project and a sale within 3-4 years utilizing a 1031 exchange. It still cash flows and a sale in the 3-4 year window allows a quality duplex that should bring 85-95k sale price without any immediately foreseeable CapEx which makes it more attractive for a buyer.

@Rosston Smith  Could you provide the expected gross rents and expenses?  Sounds like I would be looking for another deal unless the numbers are fantastic. 

I suggest a webinar for more in depth discussion on this topic. If nothing else, this thread has caused me pause to reanalyze some of my previous thoughts. I appreciate the discussion but am now second guessing some of my decision making. 

Congratulations @Gabriel H.!  Sounds like a fantastic setup for a first property!  

Great suggestion @Dawn Anastasi. (-:  I am a firm believer in doing it right. If there is no profit available after budgeting for necessary and appropriate repairs, the deal is not the right deal. 

We are "fixing the lean."  

@Account Closed will be limited to the $10,000.00. It just depends on Chase's goals. Just get the 2,500?  Small claims should be fine. Attempt to teach a lesson?  Small Claims may limit his ability. Again, a consult with an attorney is definitely worth the time. 

This is the type of story I could read all day long. Congratulations on your successes!