All Forum Posts by: Ted Fall

i agree with J Scott. Make sure your inspection of the property is extremely thorough so as to keep any "surprises" during the rehab to a minimum.

Another possible scenario would be to leave the renters in place and take an equity loan out against the property assuming that you have enough equity built to use on other potential deals and then put it up for sale. The property might be more attractive to other investors with a renter in place and at closing your 1st mortgage (if any) and equity loans would be paid off and you'd have automatic equity built into your new investment property. Good Luck!

Thanks for this info!

In my rougher farm areas the houses have routinely been boarded up by the city so my inspection kit has a screw gun, hammer, several pry bars, etc. I affectionately call it my B&E kit! BTW, I always have either the property owner or agents permission to enter at will.

I was really tight on the numbers and I just had to walk away from a full price offer on a flip I'm selling because the buyer wanted nearly 12% concessions on the deal. My agent tells me that 6% sellers concessions are common with certain loan types ( VA, HUD). I hadn't factored this in to my figures when I bought the house. What are others experiences with sellers concessions and how are they dealing with them.

Hi Josh and Matthew

Thanks for responding! We're moving to be closer to family and the great outdoor activities that we love.

I'm looking to build a portfolio of 50+ residential, commercial and mixed use rental properties over the next 10 years. I have been involved in many facets of RE for the past 30 years from small rehab projects as a general contractor to a commercial property conversion of a summer rental cottage colony into a homeowners association. Since I have a "day job" I am currently only doing fix and flips in Rochester with a great team but looking forward to developing and scaling up my RE investments when we move. Any referrals to the usual cast members would be fantastic.

Hi All, I'm moving to the SLC area next year from Rochester, NY and am looking to start making connections with other investors, wholesalers, and investor friendly RE agents. I mostly do fix and flips but will hold on the right property. Already planning on joining SLREIA.

Great idea! I'd ask the contractors permission to post though.