All Forum Posts by: Michael Czepil

Thanks @Kimberly T. and @Simon Campbell. Seems like market and location has an influence on where these types of properties become profitable. Appreciate all the feedback

That's good to know James thanks for that. Did you go in knowing you had to complete a rehab on the properties?

Thanks for the reply Seth, I apprecicate your input. It definitely looks like they can be good performers on paper, I would just need to do all my due dilligence to make sure the property is in good enough shape to at least move forward. Thanks again.

Hello all, im curious to see what your thoughts on the age of a property are. I am currently evaluating a new market for me and have come across many properties in the 15-40k range, however they are dated in the early to mid 1900s. Are these properties people generally stay away from? Or do you go into it knowing a rehab is in order? Do people buy these, renovate them accordingly and have them operating like it is a younger property?

Thanks everybody.

Awesome thanks for the advice Bill. I did graduate in mass communications/public relations and I do work in marketing now so that definitely might work for me. Appreciate the insight Bill.

Hi everybody, I am looking to make my first purchase in the new year and I am starting to look down the path of a government backed FHA loan to start off with. Can anybody recommend a lender in the New Orleans area that somewhat specialises in producing these types of loans? My credit is in pretty good shape but my length of employment straight out of college is short and I have had some trouble getting conventional financing. Thanks for any input everyone!

Yeah that is one thing I thought about Ellis. Definitely no harm in asking the question.

Thanks guys, I appreciate all of the feedback.

10k down on a duplex that is 49k. I haven't had it looked at by a contractor yet, but I wouldn't be surprised if 20k in repairs are in order. It is that 20k that I am trying to work out how to finance.

Hello all,

I'm looking for any feedback and advice on what I am trying to do at the moment. I am just out of school and started a full time job so I am having difficulties getting conventional financing to make my first purchase (both property and investment purchase.) Lately I have come across a couple of owner financing deals that I might be able to work instead. My question is what experience do any of you have with owner financing a deal that needs repairs? A couple of the properties I have looked at (duplexes) are livable, however need a decent amount of work. Any creative ways to finance the renovations/repairs? Or is it more of a savings and credit card kind of situation?

Thanks for the help everybody.

Mike