All Forum Posts by: Brandon Bohland

@Greg Ramsey I spent the last couple months doing research in my market to analyze which methods I think would work best. I just recently released the marketing campaign, so it would be too soon to tell you if it's working or not. I'll be sure to keep you posted on the results.

@Caitlin Murphy I appreciate the welcome! I've gone to your link and added some alerts. Thank you!

Got it. So essentially, you're taking the benefit of the lower purchase price, then excluding initial rehab exp and including deferred maintenance items. Is this the standard rule of thumb? I'm just curious why you wouldn't, in this example, include the $30k needed to make the electrical upgrade. Or is there another formula to use as an "all-in" capitalized ratio?

Hey Everyone!

I'm classifying myself as a new investor in the Toledo, OH market.

I actually have some experience buying a couple foreclosures, fixing them up and living in them as my personal residence. The first one I flipped was a condo in Sylvania. I bought it for $110k, put $60k into it and sold for $245k in December of last year. I've since bought another foreclosure home in Sylvania that my wife and I plan to stay in for awhile as our personal residence. We've already completed the renovation.

The reason I'm classifying myself as a new investor is because I really haven't invested in anything outside of my personal residence. I'm a big advocate of Kiyosaki's, "Your house is a liability" theory. I see it every weekend when I find myself at Lowe's buying something to fix something else!

I am currently working full time as a financial analyst. My short term goals are to build some capital by buying, fixing and flipping homes. Long-term, I hope to build enough cash flow thru buy/hold investments to allow me to quit my job.

I've since just spent a lot of time doing market research and undergone a massive marketing campaign to find the best motivated sellers. I'll fix and flip what I can, and plan to wholesale any overcapacity.

I would be interested in knowing if there are any BP meetups in the Toledo market (outside of the Toledo REIA) meetings. I would be interested in attending. Glad I found BP and looking forward to some fruitful discussions!

Brandon

Ryan,

You mentioned that your expense ratio includes deferred maintenance items from the new properties you're acquiring. What's the difference between that, and what you're explaining as "initial major rehab items that are done as part of the initial purchase"?

New investor just looking for a good rule of thumb for my purchase.

Thanks!

Brandon