All Forum Posts by: Michael J.

Have the current homeowner try and file a wind/hail claim before the sale goes through. If you can find/know an experienced contractor, they should be able to navigate the insurance process with you. I do this all the time with homeowners as well as real estate agents here in the Indianapolis market. The buyer will want to get the roof replaced, the homeowner doesn't want to foot the bill.. ok, well we step in and get the roof purchased with insurance money. Just make sure the sale agreement states that the current homeowner has to see through the claim as well as the installation of the new roof. Definitely find a contractor that specializes in insurance work. There is an art to working with insurance companies that takes a few years to master, especially when dealing with a home for sale. If you have any questions, I am very experienced in this field.

I was coming here to say this. I try to get all the sellers I deal with to file a claim with insurance on the roof to see if we can get it replaced before purchasing. I will then add the deductible to my offer price. So if they pay $1000 deductible, then I increase my offer by $1000.

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Is this a traditional bank that you are applying for a loan through? I would definitely look at connecting with a lender who specializes in investment loans. Other options would be hard money lenders/private money lenders, borrow the additional 11k from a family member?

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@John Wright has a great suggestion! You could also look in local FB investor groups to see if anyone would be interested in helping you out.

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If they are good tenants and pay on time, start by rehabbing the empty side, then move them to that side once complete and then rehab their unit. Then rent it out for increased rent. At that point you can decide to keep or sell.

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if you like eating out, become a secret shopper and get paid to eat out. This will save you hundreds a month!

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Are you the end buyer?

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I prefer Greenville as I like to be able to get to my properties in less than 30 minutes.

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All Forum Posts by: Michael J.

Michael J. has started 6 posts and replied 202 times.

Post: New to real estate looking to reach out for mentor

Post: Collecting the keys remotely

Post: Can I Make Investing Simple by Using Other’s Skills?

Post: First Rental Property - Needs Roof Replaced

Post: Creative Financing Ideas/Suggestions

Post: Tips for Finding a Field/Boots on the Ground RE Assistant

Post: Is it difficult to remove tenant to do fix and flip?

Post: The best way to save money?

Post: Buy under personal Name and then Assign or buy under LLC directly

Post: Greenville SC vs Huntsville AL