All Forum Posts by: Marc Rice

@Kelson Alexander

Congrats! Good luck through the rest of the closing process

@Kalib Williams

You'd have to refinance the loan. Most will require a 80% LTV on a single family.

You also want to see if your down payment assistance program requires you to pay back all or a portion of the down payment assistance grant or if it’s completely forgiven - id check this before you do any down payment assistance

@Corey Reese

I like mid cap cities with appreciation and population growth. Columbus, Ohio is where I live and invest.

@Alexis York

Great! I would advise to buy something that cash flows when you move out so you can actually stack and not be tied down to brute forcing a deal alive.

Dig into books and podcasts and let everyone know you’re looking to buy more properties. I personally liked doing the work on my first property so that I could have the knowledgeable foundation for future ones.

Keep pushing!

@Rick Rolfe

That’s on your contractor and not your obligation. The contractor employs the subs, you employ the contractor. You could have a basic contract with the contractor outlining expectations and obligations of both parties .

@Jon Blackburn

Tricky, following this to learn. If you had them all month to month then could you raise them all at once?

@Mark DiPietro

I believe you have to allow them to make any handicap improvements they need, but they have to pay for it and pay to return it back to the condition they were given it to.

@Austin Hawthorn

B, the use that equity down the line to snowball

@Joseph Harrison

1. Find cash buyers

- join your local Facebook investor groups, visit you REIA local meetups, post on bigger pockets in your local market, post on craigslist/Facebook marketplace you're looking for cash buyers in a "for sale" post. You can watch YouTube videos also on how to find recent cash buyers in your local area from Propstream or MLS

2. Drive and find run down properties with some form of distress (tall grass, peeling paint, vacancy signs), then go on your local county auditors site and find the owners name. Then type that into google or a skip tracing service and find a number to cold call them on

Overall, it doesn’t hurt to get a mentor starting out to learn the ropes and have a strong buyer by your side to learn along

@Fawzi Mudawwar

If you only have a few units then it may not be a bad investment. Although $10-30 seems very cheap, I’d dig further into that. Also the WiFi is going to be an issue if you have a lot of units and getting WiFi to all those locks. What if it goes down and your tenants are so used to not using a key?