All Forum Posts by: Erickson Sainval

What is your ultimate goal and is this the most efficient way to get to it. If you think this is, than do so. If this has been your current actions and your happy with the progress, than continue it. 

If the numbers work out, I seem to make sense. Only thing is to be wary of material cost, as the prices are fluctuating quite a bit. Also, understand the market, get to know the local contractors, and make sure the margin is big enough. I believe rates will begin to rise so being able to refinance will be a little bit more difficult. Make sure your exit strategy is solid, maybe even provide you business plan to a bank and see if they would be interested in the refinance.

Gross Income - Expenses (mortgage, hoa, utilities, etc) - cap ex (10% of gross, I like) = cash flow

If your positive after that, you should be fine.

I like using DocuSign. There are free ways, but it's something I carried from my real estate agent days.

Is the asking price worth the squeeze? If not, you will need to negotiate, get creative(seller finance), or take the jump. I would see if you can seller finance and work some terms that benefit you and solves their problem.

Great story, enjoyed every bit of it. Keep up the good work!

It all depends on your end goal. I would look at all the strategies at surface level and see which one would interest you the most. Once you have an interest, study that and apply your knowledge.

If the numbers still works with an agent, I would go with that. It is the easiest and fastest way to get your property on as many eyes as possible. If you do not mind waiting a bit you could try and sell it yourself and save the cost.

Yes, I look in Columbus and other parts of OH.

Going to need a commercial loan to buy as a package unless you and the seller want to transact each separately. You may find some hard money willing to loan on the deal if you do some fishing.