Where you successful in making any progress on getting it established as a triplex?  

Hey everyone,I mentioned in a post about my "business reboot" that I was starting a progressive direct mail marketing campaign. 

M.Just trying to wrap my head around this as i have a similar deal in progress. isnt it risky to guarantee payment regardless of vacancy?

I believe that I am actually in the way of progress where I am right now.  

I'm looking forward to hearing the progress on the renovation. 

Here is the skinny on the one I just closed.MLS listing 44,900, acquired at full price no contingencyassessed value 63,0004 bed 1 bath built 19201286 Sq ft 4 bed 1 bathHardwood floors and oak moldings (unpainted throughout)New vinyl windows 2nd FloorNew tear off roof 1 yr old.New vinyl siding not very old.Off street parkingLocation is in the path of progress (less than 1 mile from Rochester's #1 employer)Screening tenants at 1200 / month, with current applicants.Pro forma:gross rent yearly = 14,400less 35% (10%PM, 10% Vacancy Reserve, 10% Capital Reserve, 5% Repair Reserve)= $9360minus operating costs (2246 taxes, 600 insurance) = 6514cash on all cash return = 14.5%

Initially, you will make more progress with a fork in your mouth, not a phone.

Great thread Lynn, very cool to watch your progress!

@Ken Williams, did you have any progress with VA? 

I only bite off what I can chew and of course the military always comes first but I work around the clock to do what I can to make progress in both aspects of my life.