All Forum Posts by: Darrin Carey

Good call @Bryan C. Most of 45417 is a "D" neighborhood. Some pockets are a bit better. The area is dominated by rentals. Some streets have a lot of vacant and boarded up properties. Some streets are doing ok.

If the property is in one of the decent pockets, and the property is updated and doesn't have any significant deferred maintenance, it could be a reasonable deal. Turnkey/Retail comps are likely limited. The amount of expenses and reserves identified is reasonable.

Tenant history, and the Property Manager are HUGE factors in turnkey deals.

@Han Oh If I had an address, I could give a little more specific information on the area, and potentially the manager.

Wholesaling can be done legally and illegally. Doing it right and legal is the challenge for most people. There is a lot of bad instruction/information out there. 

The answer is officially a definite "maybe", depending how you do it.

And licensing just doesn't matter for wholesaling. (now, that last statement will start an argument.)

Robyn,

Send me the info on the Dayton houses.

Darrin

I'm not sure from your post. Is the easement is on someone else's property, and the sellers have the right to use if for the garden? Or is the garden on the parcel, and someone else has the right to go through the garden?

Is there a formal easement on the deed?

If they represented the garden as part of the property, and it's an easement on someone else's, or just being used on someone else's property, then your friend has a solid position

Is there a real estate agent involved?

--If there is an agent, and they knew of the easement and failed to disclose, your friend has an opening.

-- If there is no agent, and the seller failed to provide an Ohio Residential Property Disclosure as required by law, that's a potential out.  

I read through the Cincinnati Board contract, and the Ohio Residential Property Disclosure, and neither call out easements to be specifically identified.

Since the inspection period is over, he may be stuck, and could be out the earnest money. It's going to depend on a few more specifics than you provided on the initial post.

Hi @Andrea Castor, it sounds like you're off to a great start already. A lot of us have been through similar experiences and survived. We have the scars from bad tenants, etc.

You've found BP, so thanks to whomever pointed you here. There's a great group of people, and they all want you to succeed. There is a ton of info on the site from the Guides, Tools, and of course, all the people in the forums.

As @Ozzy Smith said, locally a group of us get together once a month to talk real estate. Here's a link to the announcement https://www.biggerpockets.com/forums/521/topics/24...

We'd love to meet you and your husband.

As always feel free to call if you have any questions.

@Daniel Wetherill We're your answer for financing. While we can and do lend in most states, we focus on Dayton, Cincinnati and those areas close to us.

And because we are long term investors in the local market, we can help you integrate your finance needs into your overall real estate business and real estate acquisition plan.

@Account Closed is doing, they may not be your best option. But, they are worth considering.

I knew a young man at 14 that had 3 rental houses. He bought and directed the repairs on all them, funded the down payment, and did everything needed. His parents signed the docs, the loans, and anything that needed signatures. (very supportive parents). I think he had owner finance on one.

Take time to learn the basics and core principles. Be VERY wary of partnering with anyone. Speaking with an attorney, and discussing trusts, LLCs and other topics will be needed.

@Sam Boutros 45214 covers both sides of the tracks. I know parts of it is war zone and/or near war zone. (which may or may not be ok for you) Part is also close to the OTR area that being improved. Other parts I don't know well enough to say. 

@Christina Careycan give you a better idea of the area. Because the area has 2 or 3 distinctly different areas, you'll need to be a little more specific than zip code. A nearby intersection would help a lot.

@Chris Gliatascongrats on switching sides, or rather working both sides. BP is a great online resource. Locally, you have the COREE group too. They meetup once per month.

Your last line sums it up well, for BP, webinars, and everything else. Don't fork over the money if you can't or won't use it.