All Forum Posts by: Bryan Blankenship

@Josh Eitingon You don't say! Ha. Small world and all that. :) 

@Josh Eitingon Love it! That first step is usually the hardest, and those first deals always teach us a TON. Having a great team to support you is paramount, I think. It only takes one weak link to sabotage the whole chain, after all.

Thanks for sharing!

@Brent Shaffer If it's a simple unit turn cleaning, then we usually pay somewhere around $125-150. I've seen charges over $250 before for that size from other companies, though!

@Jinglei Cui You're welcome! We do a variety of methods, but our main focus is A/B Class turnkey properties. We have several clients who purchase in cash at a discounted price, then refi out after it's been a bit and re-invest that into another property. :)

@Michael Fradette Yup! I generally go for the option of "keep existing tenant with a good record,spend no extra money right now, get higher rent" rather than "boot tenant out and spend money to get higher rent" whenever I can. You'll have to do a unit turn when they leave anyway, so if they're happy to stay and pay more, worry about the renovations later. Sign the agreement ASAP, but make sure you have all of your bases well-covered in that agreement. Take the time to make sure it's right, because you only get one shot at it until it expires! 

@Billy Thurston You can do it either way. Some people prefer to get the pre-qualification upfront to present to sellers/providers, and others wait until they've found a property they want before they talk to the bank.  If you already know how much you'll qualify for, the order is irrelevant. If you don't, however, you'll likely want to talk to the bank first so you know what you'll be able to purchase when you go looking. :)

@Jinglei Cui As everyone else has already said, there are a lot of factors that go into it, but we've helped get investors to that point on their own timelines. Usually it's between 1 and 3 years if they're aggressive about it, but it can take up to 8 if they're not. They get there faster if they've diversified and they pay attention. :)

@Evan Ryan Welcome aboard! Like @Anthony Wick said, get everything formalized and in writing. I've done great deals with family in the past, but it's best to protect everyone involved. It can be very stressful when things don't go as planned, so keep that in mind. Differences in opinions can make or break relationships, so it really just depends on what the relationship is like to start with. Mutual respect and trust is a must!

@Ashley Rodgers The MidWest offers this, as @John Warren pointed out. 

Some recent examples from Ohio - 1. SFR for $187K, rents for $1850/month. 2. SFR for $137K, rents for $1495/month. 3. SFR for 120K, rents for $1250/month. 4. Duplex for $135K, rents for $1500/month. All B or A class.

They definitely exist!

@Michael Fradette Leases. Now. No matter what you end up doing with the rent increases or renovations. It's not a good situation to find yourself in to have tenants without leases! You never know what will happen, and even if they've been stellar tenants for 10+ years, that can change at the drop of a hat (or a deed, in this case). 

As @Kurt Jones said, this is a business you're running now. Approach it that way, and protect yourself and your interests. Then you can worry about everything and everyone else and do what you feel is right. :)