All Forum Posts by: Pavlos Kasselouris

 I can share more detailed numbers as soon as the refi is over, since the appraisal will play big part in the overall calculations. 

 Central Florida, Deltona

 I wish you good luck, I hope you left some buffer in your numbers. 

If you have picked an agent he should be able to tell you all about the sale. Pricing is the most crucial in my opinion. Just be in the buyers shoes how they buy and you will figure out the marketing plan.

Title agent does the searches for free, and I use her for title work later in a sale or refi.

 Of course over budget, but nothing that compromised the project. 

I'm happy to report that project is finally OVER, tenant in place and after refi is finished I project over 18% CoC return! Now time to figure how I can do this and leverage OPM...

Lessons learned:

1. It is extremely difficult to manage effectively a rehab from 4 hours drive. From getting bids, to buying materials, from managing time to perform quality control...everything was a challenge...BUT it CAN be done!

2. Order the kitchen cabinets first...

3. Auctioned properties are given in a discount for a good reason...

4. Not so happy with the performance of the contractor on scheduling. This is what you get when you hire a self-performing "Jack of all trades" that has only two helpers... but at least I knew from the start that since this was first one, it would be kind of slow.

5. Rental market is crazy, I had 20 inquiries before even I was done with everything, just with a craigslist ad, and zillow listing!

6. Put in my formula more profit, and more repair estimates.

7. Have contractors bid with them removing their debris, unless I can bring in a good price a 60yd dumpster for the whole project! 

I would also like to join these meetings. 

 You dont have to get the whole 35K amount. You can do as little as you feel comfortable. 

If your goal is to build building credit do it as Allen says above. Just get a loan with a secured CD on the back end. Thats how I started building personal credit and work just fine. Also I got for my company Home Depot and Lowes credit cards using my SS but the cards are in the business name. Thats another way to start building business credit. 

Use every means available to you, among them BP :)