All Forum Posts by: Aaron Poling

Hey! I am located in the Eastern Panhandle of WV, so not too far away from NOVA. Your ideas of facebook and meetups are on point! I also suggest building your network her on BP, and responding to investors questions, and make posts. You will be amazed how quickly investors that are active on BP will reach out to you. I also suggest setting up some keyword alerts that will let you know when any posts are talking about your area, so you can jump on and comment! 

Let me know what areas you are working in and if I have any investors looking in your areas I can send them your way! Thanks Aaron

Typically if you do not have a lease, it would default to the laws in the area that the property is in. The current owner should get a month to month lease signed by the tenant prior to you purchasing. Otherwise you could have a difficult time enforcing anything and collecting rent. Good Luck! Aaron

There are many ways to learn your rehab pricing, and most of it will happen over time but here are a few ideas. 

Find a contractor that will walk a few homes for you, and write up estimates. Even if you have to pay them to do this, with the understanding this is for info purposes it would be worth it. 

Walk through home depot/lowes and make a list of the pricing they have posted for labor costs. They will have pricing on changing out hot water heaters, doors, etc... This will help you compile a list of general items. 

Meet with distributors/contract sales reps for pricing. For example you could meet with a flooring company estimator and they could give you some basic sq ft pricing for different types and levels of flooring. 

Attend real estate investor meet ups and speak with other investors that are doing rehabs and they will give you some good numbers on their costs. 

These are just a few ideas, hope it helps! Aaron

The answer to all of these will be very specific to who is providing the services, and what options they provide for payment.

The water & sewer bills are typically a city or county agency, it should be whoever you contacted when you first hooked up service.

For taxes reach out to your local assessors office to ask. Also, if you have a mortgage on the property their is a good chance that your lender pays the taxes held in an escrow account. You can reach out to your lender to find out, but should also show on your monthly statements.

Insurance would be an independent company, but you would have set that up prior to purchasing the property. This also may be escrowed and paid by your lender.

For auto payments it will depend on what they offer. In my area all of these except taxes can be paid by cc.

Hope this helps a little. Thanks Aaron

I would recommend dealing with the tenants before selling. If not you will be giving a large discount for the buyer to deal with the issue. I suggest speaking with a real estate attorney in your area, and then following the guidelines exactly to obtain an eviction. You may also want to reach out to some local property managers to see how they are dealing with the same situation. Good Luck, Aaron

Is this listed on on the local mls now? Do you have a listing agent, or are you selling fsbo? If not, you should consider having it listed. It will be much more attractive to buyers agents to show if it were listed with an agent. 

Most likely if you are selling close to market value it isn't something that a wholesaler would be able to make work. It may be worth talking to them just in case they know a buyer but wouldn't tie the property up with an assignable contract. 

If you are assigning the contract and not purchasing yourself, that should be disclosed to the seller. If the seller understands that you are not the actual purchaser, they will probably not expect to see POF. The issue I see here is if you are assigning but leading the seller to believe you are the end buyer. It is always better to be up front about how the process works, and you shouldn't have a problem with this. Thanks Aaron

There is a reason that it is selling so cheap. The lack of parking will be a huge barrior in using this for any other purpose, and could even hinder a new church from opening. There can also be zoning or deed restrictions that keep this from changing its use. In many cases church's were built using donated funds which can lead to title restrictions and issues. You have to decide what the right investment is for yourself, but please please please do lots of due diligence before buying a property like this. Good Luck and let us know what you decide! Thanks Aaron

Tim, When I get overwhelmed (happens all the time) I try to focus on accomplishing one thing, and then move on to the next and then the next. If you try and focus on everything that needs completed, and do a little bit of each, you will never accomplish anything. Start by completing one thing that you have control over like cleaning up the job site, then make a punch list of each room, then go pick up misc materials from your punch list. With each item you complete one small step, and work your way up to the bigger items. It will help organize your thoughts. 

Hope this helps! Thanks Aaron

Not sure if I completely understand your question. Are you trying to figure out when would be a good indicator that a contractor would want to invest, and potentially want to partner on a deal? Not sure if this is what you are looking for but will try and give an answer to the pet peeve question. Most smaller contractors start out as tradesman that are excellent in their trade so decide to go in business for themselves. In general this means they are great at the trade portion but the business and paperwork side isn't what they naturally do good at. If you wanted to partner with a contractor, I would suggest taking care of all the paperwork, organization, and business side details and let them handle what they are great at! I partner with my cousin (he is a contractor) and he doesn't want anything to do with the business side, but makes the rehabs look easy. We both take the lead on what we are both the strongest at and it works great! 

Hope this helps some, Thanks Aaron