All Forum Posts by: Marty Rini

I wanted to thank everyone for the nice comments.  I hope I answered everyone's questions and sorry for the late replies.  I was in San Diego watching the Steelers beat up on the Chargers.

 Hi Will,

I purchased for $174,500.  The seller paid all the closing costs.  I put about $33,000 into the rehab and sold it for $281,500. My wife and I moved in with the inlaws for 5 months while I worked on the house.  I did all the work except for the plumbing and electrical.  I was not allowed to pull equity out of my rental in Pittsbugh (my first flip) which is about $130k.  I didn't want to refinance that loan since there was only 11 years left on it so I funded most of the project on an interest free for 18 months credit card.  I don't recommend this for everyone but I considered it a small business loan. Let me know if you have any other questions.  Thanks.

Marty

 Hi Jerry,

The REO I found was on the MLS. It was at a higher price point so it most likely scared off a normal investor that wasn't going to move into the property.

The Brick was behind the plaster.  Anytime you can expose brick that is in good shape do it.  It gives the house character and adds pop to the room.

The property was on the MLS in 2012. It was an estate sale. We scooped it up in less than 24hrs. Deals were easier to come by back then. I went the REO route on my latest property.....now those are even hard to come by.

Here is a live and flip I did in the Clintonville area of Columbus Ohio.  After Realtor fees and closing costs I netted about $67,000k.  I just finished my 3rd live and flip (staying for two years) and am currently looking for my next opportunity which will be a flip I wont live in.  Looking to bail on the JOB.  Check out the transformation below: