Hello There,I wanted to reach out to any investors who were interested in placing some offers on a current condo building that is undergoing de-conversion.  

Purchase in an area that is undergoing significant change that will result in higher rental rates7.

After doing some research I've decided to undergo the Direct Mail approach when I am reaching out to the motivated sellers.

I'm actually in the beginnings of the same process you're undergoing as well, just in Chicago.

An nice ready from JUMBO JUNGLE - Mortgages Undergo an Attitude Adjustment

If you're doing a Max LTV loan, the property will have to appreciate significantly or undergo a rehab in order to take cash out.

The property is undergoing renovation and should be done by mid July.

Originally posted by Account Closed:I lived in Wilmington for 18 years and it is recently undergoing a drastic transformation in the form of massive apartment building construction and big money coming in to invest.  

My question is regarding the second round of negotiating I am currently undergoing.  

Sqft of rented rooms are about 2/3 of the mbr.Rooms being rented out will undergo renovations such as new flooring, wood panel walls being replaced w/ drywall, updated bathrooms for rental use, etc.Separate checking and savings account set up to receive rental income and hold tenant depositsAccording to tax rules, I can divide up the shared costs between rental use and personal use by using either sqft of rental vs. entire house (horrible idea since common areas are included), or by number of rented rooms (better idea since it's a larger % on the rental side).