All Forum Posts by: Rob Wilcox

Hello BP, 

Hoping there are a few investors in Toledo, Ohio who can help with some research. 

My family currently lives and invests in Atlanta, GA.   

However, we have a family house (split level, 3 bed, 1.5 bath) in Toledo, Ohio (southwest) that we are deciding what to do with. The house was built in 1950's, contains about 1,300 sqft. It's in the Rogers High School, school district. 

Anyone have rentals in this area and can share: 

1. Market Rent - What is the realistic market rent for a SFR like this?

2. Demand - how quickly would this rent?

Appreciate the help!

Have you tried renting or buying an ozone generator? We have a rental that had a long-time smoker and after much research we bought the generator and it worked well. This is a hotel and car detailing trick. Odor Free has a good one that we got through amazon. We bought the commercial version. Good luck!

Initially, both...long-term want to focus on 5+, specifically in the 10-20 range, but not stuck on a specific number. Focused on building broker relationships and getting my business actionable so we can move quickly when the opportunity presents itself. 

Hello BP, 

Wondering if anyone has a couple good multi-family brokers in the general Atlanta, GA area that they would be willing to refer. Thanks for the help!

Rob W.

Hey everyone! I too am a new REI in Atlanta. PM me to connect!

Budgeted $40k with my contractor but $50k in my financial analysis, so yeah, we should be able to cover this one...everything you read says you will make mistakes, no matter how much practice and prep and mentorship. Studied like crazy and right out the gate...smh...I actually love it though, great lessons and hopefully this misstep will help the thought process throughout the rest of the Flip!

No doubt! Thx!!

OMG/SMH... I am so embarrassed that I feel obligated to share my vulnerability with the BP community... Quick story - I just burned $200 on fire (figuratively) on my first day of my first flip. It's about the keys to the home. We get the keys, call a locksmith to change the locks. On short notice, this costs us $240...I know, I know...smh. Later that evening, as we are getting new keys made to our new locks, we literally bump into an end cap displaying two deadbolts for $14.98. After a quick conversation with the store sales associate, we realize just how simple the installation would have been had we done it ourselves. Moral of the story to all of us first time flippers: Go to Home Depot first! Hoping this admission helps someone else and saves them some cash 💸💸

For sure will attend!!  I'm a new investor, thinking about changing careers and working on property #3!!

Anyone meeting up sooner than this in north Atlanta?

My partner and I just went through a similar but not exact situation. We decided to work through a real estate attorney to gain specific legal advice. We also engaged our CPA to finalize the capital contribution and distribution language. We still are not completely finalized with the operating agreement but we are well down the path to the exact language that we all feel good about. We have formed two LLC's, one parent company and a second that is what we purchased our first property with. The best advice we gotten is to pay for expert advice. At this point, to start our company and create two LLC's with good leaves and tax advice it's cost us about $2,000. Not sure what is expensive or not, but this has been money well spent for us.