All Forum Posts by: Mark Yuschak

Jon K. what a great testament to this conference!

I can't thank Josh, the speakers, and attendees enough for this great event!

The other option is to submit POF for an account in your personal name. If you will inevitably be the registered agent for the to-be-formed entity, the POF in your personal name is acceptable.

I've done this multiple times and it's never been an issue.

I'm looking for a long-term partner to pair up with me on rehab projects in Michigan.

Up until now I've done all rehabs on my own. This includes everything from analyzing, funding (or finding the money), managing contractors, etc. The profits have been handsome... However, I am limited to be able to grow since I'm my own bottleneck.

This partnership would be limited to my rehab business. I don't have any interest in partnering on buy and hold properties at this time.

Ideally the person would be local and aggressively be able to help seek out deals through means other than the MLS.

I found this thread after it was too late. We opted for PF Changs on Sunday for lunch.

One last lunch gathering would have been a perfect way to top off the awesome weekend!

I did not complete any firm deals while at the Summit. However, I found two more sources of private money which will turn into deals sooner than later.

The networking opportunities at the Summit were priceless. It is literally hard to estimate how much long standing benefit was derived by going to and engaging with other members at the Summit!

You should also consider talking to a local property manager to gauge what they would rent the property for. In addition, I would talk to members of your local REIA.

The problem with online sites is that they're just guides and not based on "closed" sales since the lease agreements are not typically recorded or made public.

I'm very pleased with Denver! I vote for a RE-peat in Denver for 2013!

Jay,

What part of Michigan was the property in? And what part of the state are you relocating to?

I'm glad to help and offer any local assistance since I'm an active rehabbed in the state!

Before prices of drywall went up (as of January 1st) I was getting my jobs done for roughly $.72 a square foot. Now it's upwards of $.82 a square foot. That includes the materials, hung, taped, mudded, sanded.

Drywall is something that is better left to the pros, in my opinion. A cobbled up job can be a pain to straighten out, and it brings attention to itself if left unattended.

I would ask some local builders who they use for drywall. You don't want the jack-of-all-trades guy. You want the drywaller that's been doing it for 20 or 30 years. The old timers are best at it. They let the grunts hang it, and they do the finish work.

The market is absolutely picking up in Michigan. Anything that's half way decent is being sucked up by owner occupants in the first 15 days. Only the junk seems to get past the 15 days. For a rehabber, it's becoming tougher and tougher to get anything off the MLS. I am using other avenues now for my acquisitions.

I'm experiencing the same as Jim...my rehabs are generating multiple offers in the first couple days of being on the market.

With prices beginning to pick up, I'm now trying to load up on rentals. I can buy rehabs in any market, but there will only be limited opportunity to buy rentals this cheap!