All Forum Posts by: Matt Stewart

I've always used Scotts. This is one area where it doesn't pay to bargain shop. Get the good stuff and only do it once.

I couldn't agree more!

I think the answer to your question will vary depending upon each individual situation. There's a balance between time and money. For me I had plenty of time and not much money to get started. So I busted my hump and did it all for a while. It didn't take long before I figured out what I didn't like doing and what I wasn't good at doing. So once I had a little cash inflow I either eliminated those things or hired them out. That's the balance of time and money.

Bottom line, there's 24 hours in a day and you only need to sleep for six hours. That gives you a lot of time to be productive. Don't waste it!

I'm down in Columbus, but I found nearly all my subcontractors on craigslist. Also check in the smaller local papers. Plan on spending a lot of time on the phone and meeting with them to weed out the bad ones. Also try to find someone that understands what you are doing and has worked with investors before. You don't want to pay homeowner prices. You want special pricing that they give to investors because they know they'll get a lot of repeat business from you.

Spend the money and fix it. You could replace that entire shower, tub, faucet for under $1k. The kitchen obviously be more expensive, but I can't imagine any way that you'll get maximum value for your property if you don't spend the money and make these repairs/upgrades.

That's hilarious! And I am a rehabber!

I don't know about Cleveland, but down the road in Columbus there is a ton of opportunity in cash flowing rentals.

Sounds like a good first property. My advice at that price range, learn everything you can about FHA buyers and the process involved there.

Good luck!

There is one REO agent in my area that I don't even bother calling any more because he just will not call back. And it's not just me, because I've heard from other agents that he is difficult to get in touch with. After a while I just learned to go around him and submit my offer through another agent. It makes no difference to me how my offer gets there.

Any titile company that wants your business will give you a packet of info that will likely include a sales contract. Just let them know that you're an investor and looking for a good title company to work with to handle all your business. They'll bend over backwards for you.