Challenges?

Challenges?

With two years of experience valuing deals and working with wholesaling under my belt, I'm ready to take the next step in my journey.I am looking in the 29205 and 29201 area codes for off-mkt deals in which the rent-to-price ratio is favorable and the property can cash flow.

Hello BiggerPockets Community,I'm embarking on an exciting journey to acquire and renovate a duplex from 1900, aiming to tackle the inherent challenges of outdated insulation and the lack of modern vapor and air barriers.

It sounds like a whole new set of challenges such as finding builders and starting the business from scratch.Next steps:I could really use some recommendations from this group:We need to find an agent/broker, CPA and lawyer that has experience with thisWe are already speaking to 2 local banks about SBA and conventional loans but are there other options or folks we can speak to?

I recommend getting advice from an attorney if you can't figure it out from the law.In Virginia there are specific steps to take during an eviction, if you engage in a "self-help" eviction by the state's definition you create all kinds of problems. 

On the other hand, C-class areas present the possibility of higher cash-on-cash returns due to lower purchase prices and the potential for gentrification, although they also face challenges like higher vacancy rates, tenant turnover, and increased maintenance needs.

Home to The Ohio State University with nearly 60,000 students, 5 Fortune 500 companies, over +25% population change since 2000, and the 2016 smart city challenge award winner (https://www.columbus.gov/smartcity/).

I can't order furniture, set up moving dates, or advertise for roommates.I'm also undecided on whether I should pursue STR/MTR/LTR options. (5 minutes away from groceries, 15 min drive to DT Seattle, <30min bus to DT Seattle)Do you have any advice on what steps I should take leading up to the closing date, which is just 2 weeks away?

I highly recommend you learn the law and educate your tenant that she is not allowed to withhold rent unless she follows these steps completely.