All Forum Posts by: Mike German

Thanks @Jeremy Brown! Simple,

Straight-forward approach!

Thanks @James Wise!  I’m planning to do some exterior grading after we close to alleviate some basement water issues.

HI BP,

I’m a relatively new investor (have 2 units/ under contract on 6 units) and wanted to survey those seasoned landlords out there:

1. When checking out a Buy/Hold property, what are your “deal breakers” that you avoid? (For me, anything more than light rehab, I don’t have the stomach/experience for yet.)
2. For interior, minor maintenance items, do you let it go or do until tenant turnover or do you knock it out as soon as you take possession? (Loose handrail; chipped linoleum, trim damage, etc)
3. What’s your method for determining fix now or fix later? (I’ve heard some say if it has less than 5 years life, take care of it.)

Thanks in advance!

Mike German

I agree with @Justin Shum; COREE is the best combination of networking, education, meetups, etc.  Every time I attend the monthly meeting, I am slowly building my network.  Check it out: first Tuesday eve of each month.

Mike German

Hi @Ron Wayne

Definitely check it out.  My plan is to attend each 1st Tuesday of the month meeting this year.  I’m 1/1 so far and will be there next week.  Last month, I met a couple wholesalers at the end (who didn’t have business cards and didn’t follow up with me :-) and a couple Buy/hold investors as well. 

Good call @Neal Collins and you are correct.  I’ve found the money and looking for the simple approaches to set up the deal for a “debt” partner in 3 off-market duplexes in the Columbus, OH area I’m pursuing.  A sent a note to my attorney this AM about some basic structure and set up as well.  I’m curious on what the average rates people offer (assuming 5- 7%); what average duration is for a buy/hold rental loan that doesn’t need much work (just steep down payment).

I’ll check out that book- thanks!

I’m interested in setting this up as well and just sent @Don Konipol a message.  Big Thanks for sharing your document!

Hi @Troy Rucker- I'm in the same boat as you and looking for this (just received the first water bill and until it's sub-metered, I predict potential challenges).

When I spoke to the service reps at Cbus Water/Sewer, they mentioned Spectrum and Guardian as two potential companies to that can do this; I haven't contacted either one yet but figured I'd pass this along.

Thanks @John Whalen!  I will reach out to Chip as well.

Thanks @Robert Ellis!  I appreciate the referral and will reach out to him.