All Forum Posts by: Adriane Boggs

@Jeff Piscioniere

They are out of Georgia. I have a broker in Cincinnati that works for a local bank who their products were just brought into her bank. Do a google search in your area to see if any brokers offer their products. Using this lender was unlike any other loan I’ve ever done bc I could never actually talk to a representative at Angel Oak which freaked me out but I just had to be patient and trust my broker. We made it to closing so all is well. Good luck!

@Jeff Piscioniere

Check out Angel Oak. I found 15% down on a 4 unit. 8% fixed and paid down seasoning period to refi after 6 months. Best loan I could find for my BRRRR.

Hello Everyone

Newbie here! I have just completed renovations on 3 units of a 4 unit building and my tenant in our fourth unit has just moved out. Wow have I learned a lot.

My question is how should I structure my leases in a way that will benefit me in the future. For example do I do all 12 month leases starting the same month? Should I stagger them in some way so I’m not hit with 3 vacancies all at once and also taking into consideration the time of the year the leases will end. November and December aren’t as terrible weather wise as you would imagine in Cincinnati however I don’t want to do turn overs during these months year after year.

Thanks for any advice

Hello all!

I’m in a disagreement with my partner over the size of fridges in our multi. The units are 1 and 2 bedrooms and roughy 900 sq ft per unit.

The kitchen is 7.5 ft wide and the cabinets are 24” deep. I want to purchase fridges that are as big as possible for the space which I’ve narrowed down to 29.5” depth and 15cu ft. This is actually not a huge fridge and I’ll admit this will be a tight fit but it will fit.

My partner wants to put 10 cu ft “apartment size” fridges in the space for design purposes. But I’m having a hard time wrapping my head around anyone really appreciating the design aspect of a mini fridge.

Any thoughts on this one?

Hey all! I’m a newbie in Cincinnati too! I bought my first multi in Mt Washington. I’ve been to the Joe Fairless meet up and it’s so exciting to be in a room with that many people so excited about real estate investing. I met some great contacts there as well.

I’m very interested in talking with investors specifically in Mt Washington! If anyone happens to be from around my area let’s meet up! Good luck to everyone!

@Joseph H.

Good suggestions! This is last on my list to button up before renting but not one to overlook. Thanks everyone

I have a 4 unit multi in Cincinnati and I’m having a hard time finding specific information on the basement door requirements. My question is does the door leading to basement need to be fire proof?

There are three door in the basement. One is a fire door that opens to boiler room and another fire door that opens to the laundry room and another fire door that opens to the garage.

With these three doors in place would the basement door at the top of the steps also need to be a fire door?

Thanks for any insight!

I just closed on my first multi family. It consists of 2 one bedrooms and 2 two bedrooms and currently has two tenants in one of each. Leaving two vacant. Neither of these tenants have leases.

My question is how to proceed with having them sign a lease? The building needs cosmetic updates so my plan is to keep them there while I'm updating the two vacant and I think it will take me two months. Then do some type of non renewal or cash for keys when it's time to update the two occupied units. Then I can screen my own tenants and fill the building and complete my BRRRR.

Also the biggest improvement I’m doing is new windows in the entire building. What is the best way to go about this with my tenants?

TIA for any advice.

@Jim Goebel

Thanks for the feed back.

Based on the report provided I'm trying to figure out how much I will be able to cash out during the refinance step of the BRRRR process.

This is going to be my first deal so I'm trying to really figure this out and this is my first time posting so forgive me.  Im looking at this deal and trying to figure out the best loan for the refinance.  How much money can I pull out is there any to pull out and how much of my own money is left in this deal.  Im considering a rehab loan which comes with higher rates of course.   Seriously my brain is fried.

thanks

adriane

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