All Forum Posts by: John Mazzella

@Martha Rodriguez I actually moved on from the Columbus market. I do believe it is a great market to invest in, but I didn't want to wait to built up the capital it required for down payments. The only suggestion I can give is to get yourself a team experts who can help (realtor, contractor, property manager and lender). Hope this is helpful, good luck!

Hi BP,

I am an out of state investor and looking for a tax accountant to provide some advice on how to structure my operations and file my taxes next year. How important is it for your CPA to be local to your properties? If you own properties in multiple states how do you handle that?

Thanks in advance!

@Brandon Sturgill thank you so much for sharing this with me! 

@Tanvir Sattar at this time I am focusing on Dayton, once I get a few BRRRR's under my belt I will start to branch out.

Hi everyone,

I am looking at properties and running numbers for BRRRR deals. As expected, the most difficult part of running the numbers is coming up with realistic rehab costs. Does anyone have an itemized rehab contract they wouldn't mind sharing with me?

I am hoping to make a file with estimates by materials and average time for each activity. Would be more than happy to share this with those who need it, but first I need a few examples of prices people have paid in the past.

Thank you!

John

@Tina Tsysh that is good to know, thank you!

Hello BP,

I am working towards a potential partnership and we want to go into this with all of the information to make us feel comfortable. We have both been pretty open about our information but I am not sure it makes sense to trade Social Security numbers. Does anyone have suggestions on how to run background and credit checks on a potential partner? 

I have reached out to a few banks about commercial mortgages for pre-approval prior to jumping into a BRRRR. I have been told that they don't do pre-approvals because the loans are based mostly off the deal not the person since the property is will be held in an LLC. Has anyone had experience getting pre-approval on a commercial mortgage?

@Ronnie Galindo thank you so much for the advice. I have just set up a meeting with an agent to get the ball rolling. 

@Remington Lyman thank you for reinforcing my excitement about the Columbus market. Any suggestions on first steps for a first time OOS investor? I know the team is most important I figure an investor savy realtor should be my first search.