All Forum Posts by: Karee Awls

Please reach out to Jacob Martin at Central Contractors, LLC, 6144005047. To see pictures of his most recent complete rehab look up 718 Westphal Ave. its for sell and pictures are posted there.

I live in Columbus, Ohio. I'd be interested in assisting you.

Coming into this we both said we wouldn't be greedy, and work pretty well together, it's a fair partnership. She lives in North Carolina and I locate and oversee the deals in Ohio for us from A to Z, so if we keep it up it'll be even more rewarding. Before we started working together she cut a check to a fix and flip guru to teach her this same process an as soon as I came into the fold she asked for a full return and was able to get her money back. But now  I'm also ready to start working with other out of state investors. People keep saying raise money, raise money well I'm ready and willing to help other investors raise their bottomline by 15% and oversee the projects here in Ohio. 

So my partner and I both hold title to the property an we've decided to implement the BRRRR strategy. Originally it was a cash deal at $48,000, home now appraises at $95,000 an we're now going to rent it out for $1200.00 a month but hope to get 75% equity from the refinance. My question is should my partner and I still split the equity and flip the rest or do I eat it an just pay myself from the month residue payments from the monthly rent?

I think my partner wants to put her money back in the bank ($48,000) and flip the remaining equity but then I've worked for free and will get paid in the long haul with monthly rents and future BRRRR's.

Thanks guys, I really appreciate your insight!! 

I've definitely been seeking additional money, trust me I'm trying. :)

So now that our property is fully rehabbed and listed on the MLS, it's nothing for me to do but wait.

After all the hours spent on our first fix and flip an all the long mornings at Lowes waiting for material to be pulled; I couldn't wait for a our rehab to be completed, but NOW I'm so ready to start the process of working on closing our next deal. I can't wait for this home to sale. We're going to reinvest it or pursue the BRRRR strategy and pull most of the cash out to start buying and holding process.

BUT in all my boredom I reached out to a few major players in my city to see if they had any unit turns/ rehabs projects an they did. So I picked up a demolition job to hold me over until this first house sells. Think this'll be the way to do it while I'm in limbo. Contract for others. BUT I Can't wait to have financial freedom and just go on a carefree vacation one day. 

So here's my question: (For those just starting out like myself that are self employed) 

How do you guys manage your down time in between projects? Are you still working on your next deal, researching, relaxing at home or spending time raising capital? 

I was a District Manager for Car go Self Storage an all leases were the same for enclosed units and RV/Boat space. But there were lot numbers assigned and the size of space was noted.  Also if you haven't already done so look into how you will handle your "collections". In some states it's against the law to sale a motorized vehicle at a state Auction. 

There's no way to recollect on $0 rent lease, but hopefully you have a month to month clause in your lease so that you can force renewal if not I'd schedule an inspection of the premises just to see if unit is being kept up an go from there. Also if you have an attorney that you use for evictions explain situation to him to see how you can get tenant to renew or vacate. So sorry to hear this has happened. 

Hi April, 

I have a great team put in place an will DM you now.