All Forum Posts by: Ross Boesch

I am pretty confident Civista Bank can get this done. It will be through their commercial department. I am in Sandusky and have a mixed use multi parcel loan with them. It will be a 5/1 ARM though.

If you want to lock in a 30 yr, but with a little higher costs, I've used LimaOne and Visio in this area. 

Hey Bonnie. I am an active investor and resident in Sandusky. Feel free to reach out. 

Active Sandusky STR and LTR investor here. Over 50% of the area is rentals and there is a lot of truth the the quality of tenants and the properties. Good contractors are hard to find and keep and PMs are almost non-existent. All that to say, there is money to be made here!

I'm in Sandusky, currently!

First off, Thank you for your service!

Secondly, Kudos for using the VA loan and house hack to get going...the things I would tell 25 year old me.

When I look at this deal, its not exciting. However, it seems you could scale back your repair allocation, but at the same time, I am guessing your wanting to build a reserve. 

I am trying to get my brother-in-law to buy a house hack and the one thing I keep telling him is that, although the physical cash flow isn't exciting...add in the monthly payment that you do not have to come up with....NOW its exciting. 

Overall, in your shoes, I would probably do this deal and if your goal is to get more property, I would save the excess cash flow and whatever you would have spent in rent for the next one. With that rate, I would never pay extra on that loan...EVER.

This property is actually 2 homes on one parcel and is being offered at the Sheriff's Auction. I was driving by and saw the neighbor, so I stopped and talked to him. There is a 5/2 home which has been vacant for 3 years and the neighbor told me it was vacated due to bed bugs. It needs about $20k of work (from what I can tell as these auctions are sight unseen). The smaller home, which I believe is a 2/1 supposedly has squatters and they may be disabled veterans to boot. 

Normally that's enough to run from, but I can't help but staring at these "back-to-back Grand slam" monthly cash flow numbers. 

Anyone have experience with squatters and bed bugs?

I put my purchase and repairs in my acquisition loan since I use a HELOC to finance the entire thing (no cash needed!!). I am assuming $30k purchase and $20k repairs for each home.

This is my first post, so let me know what other info is relevant that I missed. 

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