All Forum Posts by: Grant Rothenburger

@Maria Mendoza

typically, lease options will put you in charge of repairs/maintenance. Unless of course you pass that to whoever you rent to. If you're paying $600 and getting $800, that doesn't leave much for any repairs or maintenance that comes up.

I only see this being profitable if you're able to get in for like $0 down and charge the people you lease option to a hefty down payment of $5k or more for you to put away for repairs/maintenance. And you don't live in the area, would this be your first deal? Have you seen it in person?

@Andrew S. Like others mentioned, they're probably seeing what the new owner will do. I wouldn't do it if I were you

Here is the video from the last meetup https://www.youtube.com/watch?v=H88Crlw5f-I

Looking forward to seeing everyone next Tuesday!

@Cody Montgomery

For the washer/dryer, it can't be too difficult to throw in a cheap small apartment washer/dryer right? That would be a relief for you and the tenant.

I'd start advertising right up there with the other 1/1's in the area, if it's not getting interest, lower it a little until it does.

Forgive me if someone else said this already, but there's usually something else you can find or come up with to tell them why you are not selecting them as your tenant. I guess then the problem becomes if the few without support animals are lesser quality tenants, you'd rather have the tenant with the animal.

@Presley Grooms

I agree with @Scott Wolf, your local banks and credit unions will likely have some flexibility on lending to LLC's. But you should start building those relationships now.

12% of the tax amount paid to the county or city. If/when the homeowner settles up, they'll have to pay the original tax amount + x% per month to the person that paid the taxes.

@Felicia Hamilton It varies by state and then by county, maybe even by city in some areas how they handle delinquent taxes. You'd need to talk to someone at the county level most likely and ask them about unpaid property taxes. Around me, they'll sell the unpaid taxes at auction, the buyer collects 12% a year for I think two years, at which time they can take control of the property if not paid off by the original owner... Been a while since I've looked at this but I'm pretty sure that's how it works around me.

You MUST RSVP to attend! To learn more and to RSVP visit https://www.eventbrite.com/e/getting-the-first-real-estate-investing-deal-cincinnatis-best-ever-rei-mastermind-tickets-62661817182

This is a monthly meetup held the last Tuesday of every month. Hosted by @Joe Fairless with some help organizing from yours truly!

Our Agenda:

1. Networking & pizza from 6:30pm to 7:00pm

2. Presentation starts at 7:00pm - Joe will lead a panel of three different types of real estate investors, asking them about their first deals. As an attendee, you'll learn what it takes to get that first deal purchased! We'll be covering getting the first deal for wholesalers, flippers, and multifamily buy and holds.

- @Garth Kukla is the owner of https://www.tristatediscountrealestate.com/, a high volume wholesaler in Cincinnati. He started three years ago as a one man show. Fast forward to today - he employs a team of people, and has completed over 180 deals to date. We'll hear the story of his very first deal, and how we can take his lessons learned and apply them to our own investing.

- @Eric Kottner is the owner of https://cincyturnkey.com/ and a real estate vet. Before branching out on his own, Eric worked for a high volume flipping company. He'll share how he was able to get the first deal of his own, which has led to completing 15 flips since going solo.

- @Joseph Cornwell is a full time police officer in Cincinnati, a realtor, and a real estate investor. He bought his first property just a couple years ago (a duplex) and now owns 16 units, with more coming.

3. Go through 60 second update

4. Remaining time for more networking, doors close at 8:30pm EST. A lot of people will hang out outside afterwards (weather permitting).

5. Post goals for next meetup in the Facebook group

The $2.50 fee (plus $.84 for Eventbrite processing = $3.34) is simply for accountability. This way we cut down on people RSVP-ing and not showing up, taking away tickets for people that would have showed up (and it buys pizza for the group) :)

Feel free to email me with any questions [email protected]

You MUST RSVP to attend! To learn more and to RSVP visit https://www.eventbrite.com/e/getting-the-first-real-estate-investing-deal-cincinnatis-best-ever-rei-mastermind-tickets-62661817182

Welcome to BP @Oliver Perry!