All Forum Posts by: Jonathan Styer

You're going to need to pay him for his time. No one wants to work for free, so just be upfront and say, I'm a wholesaler, I want an estimate of rehab costs for this home. What will you charge to come up with this estimate? 

To be honest, this is not the smartest way of going about finding out rehab costs, I believe most wholesalers figure it out themselves by going through the home and determining what needs done then adding up those costs. Once you've been doing it for a while this becomes second nature. 

Good luck!

Hi Brandon, I would imagine $90k is not going to get you very far in Southern California. You can do a lot of damage with that amount of money in Columbus, OH and get a great mix of cashflow and appreciation. 

I would start by calling them up and voicing your concerns about the length of time it is taking to find a tenant. If they are getting applications why is nothing coming to fruition? Three months is long enough to find a tenant, so something is wrong. Either it is the rental amount or something with the property. Your PM should be the expert and help to decipher the issue with you. If they can't help after you call and express concerns, look for a new PM. 

Congrats on taking the plunge! Columbus is great for short term rentals. Where is yours located!

It isn't going to happen with any government loans, you'll need private money or cash to do that. 

You're not missing anything. It all comes down to numbers, if you can find a condo where the numbers work with the HOA fee it's not a bad investment as they can be a little more "set it and forget it" with not having to worry about exterior maintenance.

The issue is, most times the HOA fee is going to kill your numbers.

@John Philip Eugenio, a good Realtor should be able to guide you through all your questions about buying an investment in Columbus. They can also connect you with anyone you need whether that be a lender, property manager, and contractors. Best of luck! Columbus is a great place to be investing.

If you have the equity and want to scale your investments, that is a great way to get the capital for your next deal. While you may not be cash flowing great in Denver, I imagine you're saving a bunch in living expenses by having tenants which helps the bottom line. I'd suggest checking out Columbus, OH if you're looking to invest out of state. Great mix of appreciation and cashflow. 

No one is going to lend to you on a MFH for less than 20% down and honestly, that's pretty good. Can you do a cash out refinance on your current property to pull out cash if you've build up equity? Refinance it to conventional and then move into the new one with an FHA loan. You could also find a money partner. You don't need to move your current loan to commercial unless it is more than 4 units, which it's not because you have an FHA loan on it.