All Forum Posts by: Robert Arquilla

@William Broxson what are you hoping to get out of this?

Why?

Normally permits are only needed when you're adding MEP type work or framing for new walls.  General finish type renovations you shouldn't need a permit for.  

I invest in Warren which is near Youngstown. Its a good cash flow area but I just read that Intel is investing 20 Billion dollars for a chip plant near Columbus.  I'd definitely like to try to get a couple properties down there.

Hey Chris I recently just bought a SF rental in Warren. It’s a great place to invest. Feel free to reach out with any questions or comments.  

@Tim Johnson

Thanks for the input. I really didn’t think about a cash out refi, that’s definitely an option I’ll have to explore and see if the numbers work.

So after years of listening to the BP podcasts and saving up some capital I finally bought an off market SF rental property.  Im currently in the middle of rehabbing this property, mostly cosmetic upgrades like paint, flooring, new P-lam counter tops to get ready to rent out.  However Ive been crazy busy and had a lot of stuff that has come up recently and I'm starting to wonder if I should flip this for some quick cash. 

The house just had the electrical upgraded, basement water proofed, new roof 5 years ago, newish furnish, newer windows. The hardwood floors look brand new. My mother in law is a realtor and told me when I bought it I already had probably 10-20k in equity in the house due to the current real estate market and demand in our area. After the upgrades I'm expecting 30-40k in profit. The house will cash flow nicely once a tenant is in there and I shouldn't have much in the form of repairs or large repairs soon. (knock on wood)

My question is should based on the current market does it make sense to flip this property and make a nice profit which I can then use to find an off market multifamily at some point or should I stay my course and work through the busy times get a tenant in there and collect the nice cash flow for years to come?

Thanks for your advice!

@Stan Wu in 5 years I’d like to have 10-15 units.

@Stan Wu stand I will keep my eye out for larger multifamily properties for you.

I saw that one at YSU. I agree with you college rentals seem to be a bigger risk right now. But if you could stand out from your competition could be worth it.

I’m looking to grab a small multi family duplex to quad or single family for long term. Stocks have been my fund stash to make a return on that money until I can find a rental.

@Stan Wu I look in boardman occasionally. It’s a little farther away and I don’t know the neighborhoods as well but I’ll keep my eye out for something.

Are you looking for multi family or single family?