All Forum Posts by: Justin Frye

@La' 

@La'Terrius Campbell Direct message me ill get you taken care of.

@Account Closed Thank you!

Thank you my friend!

Thanks guy!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Columbus.

Purchase price: $165
Cash invested: $18,000

Full rehab on an Old Town East Duplex. Complete transformation from top to bottom

What made you interested in investing in this type of deal?

Location! Location! location!

How did you find this deal and how did you negotiate it?

Off market, And actually negotiated directly with seller on purchase price.

How did you finance this deal?

Private lender

How did you add value to the deal?

By completely renovating the entire house.

What was the outcome?

Getting over $3,000 in gross rents each month

Lessons learned? Challenges?

Use check lists and follow them! Also make-sure your contractors and you are on the same page from the start all the way to the finish.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

@Andrew Smith that’s an easy one don’t listen to everyone on here there’s plenty of cash flowing properties in the Midwest, Ohio, Indiana, Chicago, Michigan, and Kentucky.

so i found an off market deal the other day that the homeowner is currently in a purchase agreement with a "wholeseller". They no longer want to be in that current agreement and want to sell independently.  The home owner wants to do business directly with myself, the buyer, and I have already had a contract drawn up to this effect.  The seller however does not want to sign until he can be assured/guaranteed he can get out of the purchase agreement he previously signed to sell his home.  There is nothing in the purchase agreement so far from what I have seen that has him legally bound to the agreement.  Can anyone give me any kind of advice or help as to how he can get out of this agreement?  I am obviously trying to assist him in getting out of the agreement due to him wanting to sell to myself directly, and not use any type of agent/wholesaler.  The wholesaler that he has been working with has been doing shady business and the homeowner no longer trusts them and wants to get out of this purchase agreement asap.  I appreciate any and all input!

Best,

Justin

thank you @Basit Siddiqi

Awesome thanks will! I will definitely start looking into credit unions. Thanks for the advice I do believe a portfolio lender will be much more beneficial for me in this situation.

Hello all I'm currently in the process of searching for a bank to do my refinance, and figured Id search some advice on here before making any final decisions. Can anyone recommend any particular way to negotiate rates, and if anybody knows what the current market rate is for interest rates these days on REFI'S. I'm an investor in Columbus Ohio and looking in going to a local bank to do this seeing how im assuming most commercial banks will have high rates. Also what is needed on my end as far as documentation goes? Thanks