All Forum Posts by: Kurt Phillips

Welcome @Adam Jutte to the wonderful area that is Central Ohio.  There are tons of opportunities here but you may hard to dig them up.  @Robert Ellis is a resource I recommend as well for an agent who has a ton of contacts and can point you in the right direction.  Aside from asking lots of questions on here there are a ton of quality meet ups in the Columbus area.  I would recommend searching them out on Bigger Pockets events and start networking like crazy.  If there is one thing I love about this industry is that most people are willing to offer referrals or guidance to help out when they can.  You will find answers quickly when you begin to do this.

Along with this topic - does anyone know of a lender in Ohio that will refi on the ARV on standard residential rental properties 2-4 units that have been rehabbed without a seasoning period. Or with a seasoning period of less than 12 months?

@Shane H. that certainly sucks and I have had dirt bag tenants as well and to this day if my wife utters their names it ticks me off all over again, sounds pathetic but its true.  

Defamation of character is real and he could sue.  Military or not I do my best to never put myself or my business in harms way.  If you want to go after the money he owes you then that is a possibility, but even that may be worth too much time, energy, and money to do.

Bottom line, he will get his so don't sweat it.  Your obviously the bigger man so let him live out his dirt bag existence and hopefully he will have a "coming to Jesus" moment and realize what he is doing.  But don't give him the satisfaction of bringing anymore harm to your business than he already has.

Welcome to Bigger Pockets and especially welcome to the booming metropolis of Lancaster, Ohio!  I know you already sent me a PM but I look forward to connecting sometime.

Depends on your resources @Account Closed and your goals.  How much cash flow will it generate and can the property afford to give up 10%, do you have time to manage it yourself, and probably the biggest in my opinion are you wanting to get into this game long term or is this just a 1 time 1 property deal?  If your wanting to invest in buy and hold I would suggest managing it yourself to learn.  If not then get it managed as long as it will still cash flow. 

I typically can get a property manager for 8% in my area but I'm guessing 10% isn't bad.  

Welcome @Jimmy Ch to the BP community.  That is awesome that you moved to a different community and maintained you goals.  So many folks encounter an obstacle like that, or opportunity, and decide to hunker down for fear of the unknown.  Keep hitting it man and ask questions along the way.

@Steve Blevins that sounds like an excellent strategy that I highly recommend.  Disclaimer, I know nothing of this property other than what little details you have said but a 4 unit 2,2 with washer drier is generally highly desirable in any area.   By living in the rental you will get much better financing options than as an investor.  Your return should be much higher as well.  My wife and I did this exact thing on a duplex nearly 16 years ago and we are still reaping the benefits from that decision.

@Jeremy Hostetter the ARV is only 35k? If that is the case, depending on if you will use a real estate agent on either end of the transaction or both I'm not sure how you will make any money. For you first flip I would find a property with a bigger spread. Just assume you will be way over budget for your first flip and if you are not then wonderful, you make a little more money. Allowing yourself a wider spread will at least soften the blow of any mistakes you might make.

While a referral is definitely preferred throw out an add on Craigslist and Facebook Marketplace.  Good chance you will at least get some names to help you move forward.  Best of luck!

@Jordan Hechinger that sounds like an awesome plan! Welcome to BP. Immerse yourself in the information here, your local REIA, books, and any seasoned investors that will give you their time and you will be off to the races.

Appreciate your service!