All Forum Posts by: Patricia Smith

Oh yes! So true. Same happened also with our contractor. I was more than disappointed. 

 Thank you Steve! I will reach out to you about new business opp. 

I agree. E.th. you mention in the post is correct. I guess we just picked a foul apple... 

@Steven Foster Wilson Hello Steven, I have sent you a message through BP. I would be happy to connect with you! 

Hi BP Crew,

Would love to get some recommendations on property management companies in Cincinnati, Ohio. We got really burnt with our previous PM Company and are looking to change. Does anyone have a great PM there? Thank you!

I do live in Portland but don't have a recommendation for you yet because we just moved here.

Here is a good educational link how to find a great contractor and this is what I use as well to find my "team" of experts:

https://www.biggerpockets.com/...

Too me it looks like there isn't to much meat on the bone with this deal. 285K sales price, 35K rehab as you mentionned. That's already 320K. Then you have closing costs (inspection, appraisel, commission, title, etc.) and holding costs.

Because the property is built around 1900 you might expect higher rehab costs then previously calculated. 

If I was to do a flip I would use the 70% rule and get a good contractor to tell you how much rehab costs you can really expect before it turns into a money pit.

Hi Phat T ran,

first of all what do you need help with? What is your real question? Is it about the financing or is it about the location the property is sitting on or the age of it? 

Hi Chaas,

I have found this article written by Craig Curelop to be very helpful : The Surefire Way to Find the Best Real Estate Agent in 3 Simple Steps.

And here is a quick excerpt of the article with some questions to ask an agent during the interview: 

1. "Are you a full or part-time agent?  You will want to work with someone who is a full-time agent. If the person has another W-2 job, you will likely not be their priority.
2. What percentage of your clients are investors vs. homebuyers?  You will want someone whose client base is made up of at least 50 percent investors. You want them to think more like an investor and not a homebuyer so they’ll be able to help you get the highest return on your investment.
3. Are you an investor yourself?  If they do not currently have rental properties, they will not be able to guide you through the transaction with expertise—even if they claim to know how. There’s really nothing like doing it yourself. Try to find an agent who is currently or has recently carried out the exact strategy as you."

I hope this helps a bit. Patricia