All Forum Posts by: Marcy Albrecht

@Nathan Phillips

Welcome to BP! The local Real Estate Investing Group (Stark County Real Estate Investors Association) is meeting on Tuesday.  You can come and meet some fellow Stark County investors.  The website is: Investinstark.com.

I am sure you can find some help there.  Our meeting this month is finding financing!!

Hope to see you there!

@Nathan Phillips

Welcome to BP! The local Real Estate Investing Group (Stark County Real Estate Investors Association) is meeting on Tuesday.  You can come and meet some fellow Stark County investors.  The website is: Investinstark.com.

I am sure you can find some help there.  Our meeting this month is finding financing!!

Hope to see you there!

It depends on how many guns you want to carry!! It is definitely a two or three gun area!! Stick with the NW or SW of Canton unless you think you can manage that type of area from far away.  Canton is a great area but I am biased as I grew up in Stark County and now live about a 1/2 hour south.  I invest in Canton, though.  We have two hospitals, Timken Company, Diebold and of course the Pro Football Hall of Fame!

We are many flippers in the area(but not that area) mostly in the suburbs of Canton! No one would buy a house there except for an investor.  Buy and hold it is good.  Not as much appreciation as other areas but things are coming back!

There are at least two others in the area that loan hard money.  I know they have money right now!!! One comes to the SCREIA breakfasts on Wednesdays.  @Sarah Miller

@Matt Kauffman Welcome to BP! I grew up in Jackson and invest in Stark and Carroll counties. The site has lots of information. Don't forget to come see the Stark County REIA group too!

Hi Lyndsey,

I am from Ohio too! Don't worry about interest on a security deposit if you only hold the same amount (or less) than one months rent. Our sec deposit is only equal to one months rent.

And sometimes I give the whole thing back and sometimes I don't. Depends on how the property was maintained and left. As long as I give a letter stating all the expenses I incurred (not normal wear and tear) and how much I am keeping out of the sec deposit. The letter must get postmarked 30 days from the date you got keys.

Example is last tenant had and outstanding water bill and had taken down the smoke det. Both came out of the sec deposit.

I am starting to take pictures of everything, also. The house before and the house after!

My husband and I each have self-directed IRA's. Our last deal, we were the lender on an investors rental for 3 years. We were the "private money" everyone wants. When he couldn't refinance yet, because the regular banks said the area hadn't come back, we just refinanced for him. We upped the % of the note. It is relatively easy to do.

Although, we have heard, not to put our own rentals in since you can not work on it or take any money out of it.

But I would check around at different Self-directed companies. I would like to get out of the one we are with(high fees) but to switch would costs $$ to get out and $$ to get into the new company. They get ya coming and going!! We are just trying to get as much interest as anyone is willing to take to off-set the high fees.

If your debts are more than your income (even if you have millions of houses..) that is not a great place to be! Please try to increase your income and you will see doors open!

Definitely call her supervisor. But also ask him/her what her pay is. If she would be a new tenant, you would verify income. This will let you know if she can still afford your rent payments. And what the future holds in terms of income.

Thanks guys! I've listed all the major repairs. Baths, kitchens look good unless the rehabber wanted to update them. I don't know any numbers since I haven't rehabbed in a while. But I do think that the spread is too small. I don't want to get stuck if I cant wholesale it. Repairs are one thing, but the sewer and mold are another that I don't want to deal with if I can't wholesale it. Thanks!