Established a payment history and begged for mercy if it was ever questioned.

I have been able to re-establish my credit since that horrific moment.

Today my ambitions are less that of a contractor and more focused on investing and establishing a multifamily portfolio.  

I wouldn't gamble on a gutted house unless I was planning on fixing a good portion of it myself and if the house was in a decent area otherwise I look for houses that have at least electrical, plumbing, a decent roof, and most the drywall in tact.

Risks for smaller investments are much harder to qualify than they are for more institutional type assets because situations are often highly unique without a lot of comparable scenarios in the immediate market to establish a true market priceHaving said that, for larger commercial investments a more sophisticated analysis is common.

The point of hold back is not so much to ensure the money is for a business purpose because rehab history and lending to an entity would establish that for legal purposes.

Looking to network with like minded individuals in the Raleigh, NC area.I am open to partner up on deals with other wholesalers and looking to build relationships with established cash buyers.

My plan is to start raising rents and negotiate with existing tenants on 3 year leases, with extension options and incremental rent increases to catch up with the parity of market lease rates.I know some may think that I could be scaring the tenants away by raising rents, passing along the expenses, and adding incremental rent increases to the leases, but the good thing about this situation is that the tenants have been there for a long time (30+ years) and have established themselves at this location.

Fix and Flip a few houses a year for those larger profits and then in keep 1 as a rental for the monthly passive income. this will help you establish as that a steady stream of passive income monthly and larger chunks of change for the saving account. it is possible.

@Ming Lim We aim to establish and maintain a reserve of between $300 & $600 per unit depending on the building and the age of its major systems and components.