All Forum Posts by: Lindsey Clark

Thanks Bernard! Structural issues can be scary when you don’t know much about them. It’s good to hear that this doesn’t seem like a deal breaker. I will find a contractor familiar with abnormal joist work and see how much this will run me. From there I can renegotiate. 

Hi BP community! I’m hoping either a structural engineer or someone who has dealt with this before can chime in. I am under contract for a property that has some structural issues. It looks like the current owner had some mediocre work done to resolve the issues last year. There is already evidence of some shifting of the walls as seen in the inspection above. I had a structural engineer come and check it out. He seems to think the repairs done are enough to stabilize the home at the moment. He won’t say if he thinks the home will remain stable. My question is, how long can I expect this to hold up? Is this something that will continually need repair? Should I run from this deal (I am past due diligence)? Or is this something that can easily be brought to code? Thanks in advance for any insight. 

https://m.facebook.com/groups/...

You can try this one. Seems like the popular investors Facebook group for your area.

My realtor did suggest one who gave me a great bid but I did not end up using that contractor. I actually found my contractor though an Airbnb host for the place I stayed at during due diligence. I am also using in house contractors through my property manager. They are way more expensive but I use them because they have a relationship with my tenants and can coordinate with them directly. 

South Florida is expensive and as a rookie it can be intimidating (but not impossible) to reach out to owners to find an off market deal. I was in your shoes a few months ago. I ended up investing out of state. I realize now you don’t have to go to that extent. Orlando, Tampa, West palm beach and Jacksonville have plenty of properties in your price range. Just do some market research to find an area you like and then use an investor friendly realtor to help you spot a property that meets your criteria. They sometimes can find off market deals for you. 

Hi! Try searching facebook groups for investors in your area "Colorado real estate investors". Many wholesalers and investors post deals there. It might be a good place to start and to get an idea if you even want to invest there. Good luck on your REI journey!

Cozy.co is a good one. I use it now. I believe they were bought out by apartments.com. Not sure how that will change things. Another popular one is buildium which may have a small fee. Require your tenants to put in service requests and to pay through the app. Take yourself out of the equation. 

Sometimes you have to look past the amount of money you are spending and look at the value of the service being providing. You could spend your time finding amazing deals but instead you are dealing with tenants and rehabbing your property. Additionally, if you burn yourself out imagine all of the potential money on deals you will miss out on because you wanted to save 10% on property management. I think you have to change your mindset if you are going to scale. You can also leverage technology. There are free apps where tenants can pay rent and automatically be charged late fees. Best of luck. Don't give up. Keep at it. It will get easier. 

Hello everyone! I am looking for some insight on the Hocking Hills market for short term rentals. I am currently under contract for a home that I will use as a vacation rental. It is located near downtown Logan, Ohio. It is 20 minutes from Hocking hills state park. What is the crime like in the area? Online it says it is an F which is concerning but I do see other STR's on Airbnb that are doing well. I wonder if crime has had any effect on their STR. What gross income can I expect? If there is someone who owns a short term rental there or anyone who manages a property there, it would be very helpful if you could share this information with me. Thank you!

Thank you for your responses everyone! I am seeing the big picture more clearly now.