Hey Danny, if you spend time building out the right team, BRRRRs will take your money a lot farther in the Columbus market. 

We are going to spend about 20K to bring it up to par but defiantly worth it. 

You can spend as little as $100 to form an LLC, or you could use an attorney and spend $1,000 or more.

gotta echo the sentiment for spending some time on the ground even if a small amount on the front end. 

Many newcomers spend their first few years working under a sponsoring broker, and during that period, the broker often earns a significant portion of the revenue.

Take a look at this chart: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% This is how likely a borrower is likely to default on credit extended to them.

You're going to have to spend a bit of time researching markets but I think picking a market you like to visit is always good. every vacation becomes a write off! 

Hey Peter, thanks for the comment and the insight and you are absolutely correct about knowing what sells in your market, I see this happen with a lot of fix and flip projects that are just in the wrong areas, the investor gets the house for a good price however spends too much on repairs and adds a lot of luxury thinking that it will push the ARV significantly higher than the average in the area.

You said "don't do it for the money," but I'm sure money calculations were part of convincing you this would be a reasonable way to spend your time and money.

So if you want to get into contract make sure that you negotiate an extended or contingent closing to accommodate the sale of your old propertyAll good options - And I'll reach out via pm.