For forty years as a laborer, carpenter/tradesman, residential designer, architect, and construction manager I have worked extensively with homeowners, contractors, and real estate investors in the past as they build their net worth and increase their cash flow from their residential properties.

The properties are old, and there doesn't appear to be a designated student housing area when you get into residential properties near the city/university.

What I am saying is that selling for more than you paid is necessary to drive IRR, and TK, by its' very design, precludes this in 99% of the cases.

Writing offers is a serious business - you need to know and understand every word in that offer and most importantly -- you need to understand disclosures and have a sense of fairness.Also understand that agents DO NOT write contracts (unless they are lawyers) they can ONLY fill in the blanks on a standard approved contract of sale (usually 20-35 pages).You can design your own contract if you are presenting yourself.When making offers nationwide -I always have "Hybrid" clause (sellers love this)Use banking days (nothing goes as expected in real estate deals - you need time to get to the profit)A built-In extension (you need time and don't want to beg for an extension.)Financing clauses - (the sweeter you can make the deal - the easier it will be to assign your contract - we call it CONTRACT CANDY - ask for everything - the furniture - car in the garage - lawn equipment - money back at settlement - paint the house - delayed settlement etc.)A memorandum of understanding - sellers need to understand your motivation and what you are trying to accomplish and who you are - do you have a license, bonded, insured - references - testimonials - etc. remember you are a buyer - sellers look to you to satisfy their financial needs or real estate problems - don't be cavalier about your actions - leave ego at home.  

Upon relocating to Lima one of the things I really enjoyed was no traffic, so you would think Phoenix would be shocking...In actuality, Chandler, Gilbert, Mesa for the most part are so new, and the infrastructure is so well designed, traffic is not an issue.

Also, I don't think we're going to get so much on the back-end back for closets on the back-end, by putting something for $3K+ in it, so worst case we'll do something simple and let them design to what they want.I will call up the Container Store and see what we can do.

What my question focuses on is the 7 year useful life category which is partially defined as "Any property that does not have a class life and has not been designated by law as being in any other class." 

If you default on one or both loans you can eventually rebuild your credit score but it will take several years and you may not achieve the 800+ score, but you could certainly be credit worthy with a score in the 700s in less than 10 years.  

Hey gang,  I wanted to ask the people in the community what they thought about sourcing marketing to a site like yellow letters or open letter, or if people took the time to design the pieces themselves and maybe have them printed locally.Just looking for tips and tricks as my partner and I are getting ready to start marketing Sep. 1st. 

The original electrical would have been installed to run a few incandescent bulbs, a radio or two and perhaps an early appliance and was not designed to handle today's electronic demands.Another thing to keep in-mind, depending on when the property was converted to apartments, is that the conversion may not - quite likely will not - meet current fire codes, which will both impact your insurance rates and your renovation costs when you do undertake a substantial rehab.That gorgeous exterior, with it's clapboard/shakes (or era brickwork) and elaborate trim will be high maintenance - that does not mean it's not "worth it", just that you need to budget accordingly.Personally, I enjoy performing deep energy retrofits on these old buildings (which can be very solidly built), but it can be an involved and costly experience, hence we are always looking for the unloved and run-down which can be purchased cheaply.If that house has been 200+ days on market - and no other landlord or investor has touched it - tells me there is a problem with the value proposition of the deal.