This is a relationship-based business.

How big will the duplexes be and what are you targeting as the sale price based on market comps?

They will know market data and trends better, have reliable comps to base their recommendations on, and could even be a great deal flow with current portfolio properties selling.The completely remote, centralized PM function is one of the reasons why you see the homes owned by PE firms sit on the market so long.

What kind of database should I use to keep track of my leads and client base?

SO expect to pay a premium based on what the potential value of the building can be once maximized and stabilized.

I know its not a huge spread but like I said I wanted to try something new.Hey Jonah, Congrats on a good deal, to only need a few cosmetic touches and to get that nice little bounce in value is awesome.And 7% is probably a pretty solid estimate (usually based on FICO) but I think the important question that you are asking is what is your long term strategy with it?

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

This deal was brought to us by our relator and was also a civilian that worked on base that was leaving the area.

My wife and I are investors based in Santa Barbara and have had Croatia in our sites for a few years.

Since your name is on the deed, you have a few options to secure financing for the rehab:Home Equity Loan or HELOC – Since the house appraised at $500K and you own it outright, you may be able to take out a home equity loan or a home equity line of credit (HELOC) based on the home's value.