All Forum Posts by: Joshua Springer

The brokerage i'm with is very inexpesnive as far as recurring costs(mainly just your dues to be a Realtor).  As far as restrictions on transactions...as long as it's legal he will probably be ok ... if it gets to risky he would probably prefer to avoid it.

Msg me if you want more info.

Sounds like a real estate board would be sceptical that you're doing what's best for your "client".  If you're going to take a commission for "selling" the home I'm going to assume they'll consider them your client.  If you're going to make money on buying/assigning then you'll probably be ok depending on local laws, assuming you fully disclose to seller what your intent is.

Regardless of where you invest, arguing that Ohio, and more specifically Columbus, is not a good rental market is pretty crazy.  We might not be amazing for speculation but economy is very stable.  With nearly 100,000 students in Columbus universities, several large HQ in area and a good tech industry I think we're on the right side of the growth curve.

If you want $150/unit I think that's your answer.

Give yourself real numbers like you've now done on expenses and work backwards to your offer price that will net you $150/unit.  If that's not good enough to get your the property you should propably keep looking or lower your expectations...but don't change expenses just to meet your goals...that's the worst thing you could do.

Well done, looks great.

@Kevin Trumbull

Mortgage interest is tax deductable..so a HELOC yes...HML depends on the structure of the loan but probably not.

If your tax lien was a federal lien you can get it removed, otherwise it's state/county dependent.

Buy home for 50k

put 20k work into it

home is now worth 100k

bank refinances 70% of 100k for $70,000 going to "you".

You owe 50k + 20k to hard money lender.  You give money from bank to hard money lender to pay debt.  If hard money lender is a lien holder bank will pay them directly.

you get $0 cash out of deal but now control a property with 100,000-70,000= 30,000 in equity.

as bill said make sure A) you will qualify for the cash out refinance and B) Their seasoning/LTV requirements.

Sounds like they're just replacing a facility and not adding to it.  There will obviously be a temporary glut of renters/short term workers in area to complete the work but it doesn't seem to be a long term job increase.  210 million is a lot to dump in an area but a lot of it seems wrapped into the technology.

Welcome to the site.  

They're many qualified individuals here depending on what you're trying to do.

If you want questions answered I can try my best to help.  I got my license here in Columbus specifically for investing but can help others when it makes sense for my schedule.  Add me if you'd like.