All Forum Posts by: Richard Schubert

I think that’s a great first step to do some of the leg work on potential financing for buyers. Once you have a lender already available, it certainly has to help with marketing to a potential buyer. 

I have a relative who owns and lives in a dome and she really loves it. The only think I hear about hers is it is difficult to have work performed on it by a contractor. More so that it is uncommon and throws most smaller town contractors into a loop of uncomfortable bidding. Good luck

 Hello, welcome to BP. I really like the fact that you made a profile with a picture first before your first post. You are already ahead of most of the others just starting out.

I have LTR’s in Akron, I will continue to buy more. Like others said, you have to know the areas. Neighborhoods can change in a couple blocks. 

Some appliances just pays to get new. Unless it is a gently used 1 year old fridge, I would get a new one. Stove maybe used, dishwasher- I would not. Built in microwave, I would not. Washer dryer, maybe if I could fine nice looking ones.

Depending on the quality of the rental property, I would look at nice used replacements for a range if the house was just in service and between tenants. But if I am doing a full rehab, I would get new myself. The service call on a used appliance would negate any money saved. 

I have a beach house in the outer banks of North Carolina. The OBX beaches have 10 of thousands of STR. Never seen one that does not supply linens, bedding, and basic supplies. Especially in the million dollar and up homes. It's pretty expected.

As others have stated, stay close to home. You have a similar market all around you already. 

Thank you to everyone who has sent me information and who has posted here. I have written everyone’s information down and replied I think to everyone. As a deal presents itself I will reach out to those who have products that match the property parameters. Happy new year everyone!

Quote from @Brandon Croucier:

How much $$ Are you looking for on the purchase & rehab side?

The owner stopped communicating so the deal might be falling apart. I was looking at 14k for the purchase and then a rough estimate (since I have not had access to the inside of the property) would be about 60k for the rehab. ARV in this neighborhood is a little low and I would conservative estimate 110k to 118k. With holding cost I estimate 80k coming back on a cash out refinance. I would keep the house after renovation and use cash out plus any additional funds out of pocket to pay off any private money. Of course I still need to get inside so I could get a real idea of the numbers. A least this house has vinyl siding and many windows replaced already. I would buy the house with my cash even if I did not have rehab funds yet. I have several other homes I own free and clear I could refinance. I am rehabbing another home right now, once it is finished I would refinance that one as well. I would like to get about 10 more houses in 2025. 

Quote from @Bobby Macik:

Quote from @Richard Schubert:

Message me when you’re in town. Maybe I can help.

 Hey Richard, Sorry I never connected. I was in town for 4 very busy days. Haha..I received a list of contractors from another posting on here. If you have any info you'd like t share, that would be great. [email protected]. I'm looking for a contractor/handyman who specializes in getting a home ready for Low income housing appvoal. Small tweaks to get the home ready and approved. Thanks! 

 No problem, hope it works out for you. Feel free to reach out anytime.

Quote from @Givo Aghasi:

@Richard Schubert Happy to connect and build a relationship. We provide fix and flip loans and DSCR loans.

Hello Givo, thank you I will reach out