All Forum Posts by: Darrin Carey

Massive Congrats. Finally got them to do what should have been done 5 years ago.

@Richard Nix M. CaasiI know several people who are doing flips where they live (CA, NJ, etc), and buying rentals in Dayton. It works well by taking advantage of the market strengths in each location.

Not to mention the Landlord-Tenant law in Ohio are easy to work with, unlike CA.

Yes, I have two great property managers I can recommend for you. Both are good. Both are investors.

Hi @Courtney Cotton, Welcome to BP, there's a great community of the people here. You're already in our great local market, and you've studied with two good people, Anthony & Chris. Look like you're off to a great start in the larger multifamily market.

Hi @Account Closed, welcome to BP, there's a great group of people online here. You're in a great area to invest. 

If you want to meet some other local investors, we do a meetup once a month. You welcome to join us.

@Noel CareyWelcome to BP. There's a ton of great resources and people here. The greetings are great, but nobody answered your question. BTW, great last name. 

Anytime you want to check on a company, Use the search window in the upper right. Search the company name (without the .com in this case), and any posts that mention the company will come up.

Back to your question:

IMO, giving up a large fee that will be refunded after your first deal is wrong.  What if you never do a deal with them? You're out the extra money.

When looking for a lender:

1. The lender should verify the basic parameters of the borrower and the deal will meet their lending criteria.

2. Once the borrower and deal look doable, submit some funds directly or indirectly to get the appraisal and all third party verifications completed. (up to $1000 for appraisal and third party fees on a SFH). Some of the assumptions from step 1 may have been wrong (often value), so a deal may not pass this step.

3. Get the deal bought, and any remaining fees are paid at closing.

@Aaron Canciani If you have really good credit and income, you may be able to pull an unsecured personal loan or credit line from the bank when you buy the property.

Combining the two may be enough to get a cosmetic rehab completed.

Otherwise, you may have to go with the hard money loan.

Keep us posted.

@John Edmerson Welcome to BP. I see you been a member for a bit. We're just up the road in Dayton, investing in all things real estate in this area.

We spend some time in Cincy at the REIA meeting and helping with some deals down there. Give us a shout, we can help each other out.

BTW, If you or @Theo Hicks or @Tyler Weaver are going to the REIA meeting on Thursday, we'll be there, say "hi".

Hi @Travis Webb welcome to BP! There's a great group of people here online. 

We also have a great meetup nearby to meet and learn local investors in person. Feel free to reach out.

I've never seen or heard of Section 8 checking insulation. However, I've heard of many tenants moving out because utility bills are high.

Overall, Insulation is very cheap for an attic (except in unusual construction situations). I always put it in the attic, and any walls I open up. 

If I keep one tenant from moving, it pays for itself many times over.