All Forum Posts by: Joel Rodriguez

I'll tread softly. I have a friend who's a licensed contractor and is going to thoroughly inspect it. 

Thanks for the input everyone!! 

Hey Caleb, I've been actively in repair mode towards my credit. Just dug myself in quite the hole through some difficult times. I found the deal and figured why not see what I can do. 

But by the looks of it I'll have to work a little harder for a little longer to pursue my dream. But that's okay. 

I'm truly thankful for all the advice being provided! 

2 units, a duplex. Also has a basement which I plan to convert into a studio at some point. But that's not included in the 80k Reno. The property needs some real work.

Figures, Thanks Randy!

Can you explain why?

Thank you Corby, I served just over 5 years in the Army. 

And will do! Actively searching for a partner. Just trying to get my feet wet and jump start my career. 

Thank you both for your insights!

It's a multifamily property.

The deal looks like this (pro forma numbers):

Asking price - 55k

Reno - 80k

ARV:180k

Rent per unit (comps in area): 1475-1750

Hello everyone!!

Many of my past mistakes now are holding me back from my leap into the world of real estate. I have found quite the passion for the whole "rehab & rent" vehicle and have found such a great deal and am ready to dive in. My poor credit and collections account are a huge roadblock when it comes to the funding part of my journey.

What I'm hoping for is someone who walked my path and found success. Hopeful for some advice on some actionable steps to take right now to get me this God-send of a property. Any help or advice would be greatly appreciated!!!

Thank you for taking the time to either reply or read this.

God Bless