All Forum Posts by: Randy Dargan

@Martez Mitchell I am local to Cincinnati area too! Looking for the next investment

Closed on my second and our partnerships first investment in Dayton KY. It is a 2 bed 1 bath 800SF house. 

PP-42,000

Rehab budget - 10,000

Projected ARV we had was about 80k

Potential rents - 1,000/mo

We got our pre-appraisal back yesterday for based on the rehab plan came back at 108,000. 

With these uncertain times, would you look to flip this? Even if we would sell at 100,000 that stands to be about 48,000 profit in 2 months. Less closing costs and capital gains (unless we do a 1031) would be about 30,000?

Or would you look to do a cashout refi of say 75% of 108,000 (or just minimum to get out with no cash in the deal) and take the $1000 rental income/mo and long term hold it?

property is in Dayton KY - a Greater Cincinnati suburb 

Home Depot? @Account Closed 

what color or sheen do you ususlly use?

See so many blogs for what type of paints to use for interior or rentals but wanted to get an updated chat going

Color, brand, sheen, etc? thanks!

@Evan Polaski makes sense. The #s you provided are they based on the 80k or the 100k or the 105k after refi?

Looking at a house for sale that needs work. At my offer price and market rates I believe it could work for a flip or BRRRR method.

Cincinnati market west side

LP 100,00

Offer price 80,000

Sold comps 140-160k

Potential rent 1200-1400avg/mo

Rehab cost 20k

If I get it for 80,000 put 20,000 into it. 100,000 all in can sell for 140ish or hold on to for 1400 in rent (1% rule)

Would you recommend BRRRR method or just get all the profits and move on?

I have one other rental property too. SFH

Thanks BP

@Andrew Postell where do I find thr Ohio forum?

Newbie as well but from my learnings i had my first unit ready October last year but end of the year is the hardest time to rent so i did an 18 month lease that gets them to the following April/May timeline which is the best time to rent/fix up should they move out and get ready to rent again. I dont think you want to be in perpetuity in Q4 

@Chris Fischesser i would be interested in mastermind too!

I am a beginner and have 1 Single Family rental now. Looking to network and get more as i grow and learn more.

I plan on attending Tuesdays meeting as well (if i am back from South Carolina in time). 

Regardless, would either of you want to grab coffee and network next week sometime?

Randy