All Forum Posts by: Matt Crusinberry

@Johann Jells, I personally would buy new at this point. Dishwasher's have a typical lifespan between 7 and12 years, which obviously puts you at the end. I'm sure you can keep it going, but new is going to look more favorable to the customer (tenant) and your wallet (cap ex) in the years to come. Good luck, and I hope this helps. 

@Scott Lyons, I absolutely would consider this an opportunity. I understand there may be a few hoops to jump through, but if the neighborhood supports it and the numbers workout, I would consider it. Obviously this won't be the easiest project, but you'll be able to walk away with a lot of lessons learned and a decent property. Also, that's another stepping stone towards your goals. You may want to search out a PM, or at least familiarize yourself with evictions. Also get a contractor to give you some numbers to bring the property up to par, and continue doing your due diligence. Good luck!

@Matt Tallent, there are a ton of companies out there that support this. Zillow now has one, transunion smartmove, cozy, applyconnect.com, etc. I now use applyconnect ($28.50) for their full scope of checks and how well priced they are. I hope this helps and good luck!

@Alexander Ewald, If this is just a quick walk-around via the outside, I look at the foundation and primarily the roof. I also check to see how old the windows are, and compare the rest of the outside with the neighboring houses. If you're able to get into the inside, I would bring someone with me who knows a little more about construction to get an idea of prices. I also have a spreadsheet I use to identify the short comings, just in case my guy can't show. You're more than welcome to have it if you want. Just send me a PM and your email address. 

@Tyler Silver, I personally would stick to the local banks. It helps to start building that relationship early on, as I assume you'll want to continue to grow your portfolio. Good luck!

@Nadia Alrawi, I'm assuming you mean single family? One way to do it is to ask a realtor to run you some CMA's on a potential listing that you may be interested in. Another, would be to use zillow, realtor.com, hotpads, or the many others out there. I use a combination of several of them, and I have my wife (realtor) do CMA's for us. However, to be completely honest... CMA's aren't always the best metric to use, just another tool.

Look at a property that is similar in size (sq. ft.), beds, and baths and view recent sold listings (usually from 6 mo. to 12 mo.). You will also want to stay in that neighborhood to identify these sold listings to get a good idea of potential ARV's. I hope this helps and good luck!

@Glenn Curry, I would hold what you got, learn as much as you can and save as much as you can. While you can definitely do a deal using credit cards, I would wait until you have a little more knowledge. I would also start attending your local meetup groups. This will all pay off in the long run. 

Once you have a good knowledge base and/or mentor, I would start journeying out. Find a deal, and it becomes easier to find the money. Mix that with some "know how" and you'll be well on your way. Good luck, and PM me if you need any help.

@Irina Belkofer, Ctcredit.net-$19.95 only does these reports:

• Tenant Credit Report
• Prior Address Locator
• Eviction Record

And to get something that applyconnect offers (which is 28.50) it's $39.95 through Ctcredit. So I guess it comes down to how much information you want to know about a potential tenant. I prefer the total package with criminal history included.

@Brian Ellis, That's what I do as well. I found it to be difficult for the potential tenant to want to put in their credit card/bank card online, so we just take cash and use our own. It works for them and us. I hope that helps. 

@Brian Ellis, my wife and I just recently switched over to applyconnect.com, they only charge tenant $28.50 for the full screen. We've also used transunion smartmove, which was pretty good as well. Good luck!