All Forum Posts by: Jeremy Wirths

@Asia Miller Buy right. Know your rehab costs. (+10%) Buy right. Know your holding costs. Know current market rents and have all units rented at market rent when selling. Know what tenant class you are targeting so you know what level of finishings you should put in. Buy right.

There is a whole forum dedicated to 'loans, mortgages and credit lines'. I suggest you start there

In addition to what Joe said, take advantage of your DD period and get your inspections done. 

Other options are FB Marketplace and Craigstlist to see current listings. There is also the HUD fair market rental rate (https://www.huduser.gov/portal/datasets/fmr.html) which you can use as well. I have found HUD to be a starting point but it can also be a backstop for you knowing that if you should choose to rent to people using the program this would be what you could get

@Jaime Rossini sounds like you are showing you care, just keep on doing those things. He knows you are wanting to buy, when the time is right for him hopefully he'll let you know

Did you ask him why right now wasn't the time? What needs to change for it to be the time? He very well could be emotionally attached to the property still. With everything else that you've mentioned he has going on that is just one more emotional strain (letting go of it). Check in and see how he and his wife are doing regularly. Are there little things you can do for him at the duplex to show him you care? 

@Eddie Ward That's quite the feat. What are your top 3 podcast episodes (doesn't matter which version)? There must have been a theme to come out of all that information, what are the top 3 things that were repeated over and over?

I'm not aware of one that does the ratio but you can go on rent-o-meter or other sites and see what rents in the area are and you can figure out the ratio that way.

@Chelsey McMasters I would recommend a second door. Leverage the OPM, your tenant and the bank's money. 

In the BP Bookstore you'll find great books on flipping and estimating rehab costs by J. Scott. Read those. Network with others in your area that are doing the same/similar thing to you and ask them the same questions.