All Forum Posts by: Brandon Schlichter

Ohio isn't too bad, I know quite a few investors in this area that do very well. Cost of living is pretty low too ,and from my last search, we're doing better this year than last, as a market whole.

I tried supercheapsigns.com a while back, they've been good to me.

Paid $130 for 100 signs! Talk about a good deal compared to the others.

Auditor first, use the property address to find a parcel number.

Some auditor websites will have the owner's name/phone/address , some will not ,you can always trace back the history and maybe find a prior owner. Asking neighbors is always a good thing to do (You can get deals from them too!).

Might want to see if a local appraiser/real estate agent may have software for the auditor. I know i do and it'll come up with a current phone number and the like, when the auditor doesn't.

Hope this helps

First off, you need to decide on what kind of person you are.

You are either a :

1. Doer
2. Talker

If you're a doer...DON'T GIVE UP! Maybe you've spent $16,000 , maybe you've spent $20,000 , it doesn't matter, it's in the past, stop paying money, and start paying attention to this website.

To invest in real estate, i don't think there's anything i'd spend money on for education at all. There's a ton you can learn on this website about putting together deals, keep learning and start looking!

Of course ,it will all vary a little bit depending on what part of the country you're in, but you need to be a sponge for information ,keep learning and it will get easier and easier. Start putting money back for the specific purpose of investing. Some deals may not require capital from you, but it's always a good idea.

To get access to the "MLS" In 98% of the cases you must...

Hold a Real estate license
Have a membership with the National Association of Realtors
Have a membership with a state orginization
Have a Local board membership
Pay for MLS Access

It runs in the area of $1500/year.

Or you could just find a company that sells access to an advanced auditor search. Most auditor departments have good resources to find comparable properties. For finding comps, i use the MLS 75% of the time, and the auditor 25% of the time, i must say , the auditor has way more results than the MLS does, i just like how the MLS displays the information.

The current owner lives in a 4br 2.5ba section of the home, at one time it was a 5plex , but they converted it to a 4plex for financing reasons. To do that, they had to put a door that allowed access to both sides...Door has to be blocked to make it a 5plex.

Yes, there's a local bank we deal with for commercial stuff, they're always pretty great about commercial. 7.5% fixed for 5 years, baloon at 10 years, amoritized for 30 years. 75% LTV....They get "Creative" if they have to.

Zoning is ok with it being a 5plex, it has been a commercial property in the past (Small town, no formal zoning).

That's what i said when i saw it too. Property also has 2 long-term renters (Past 4 years) that don't take issue with a rent increase every year.

Most likely, we expect that, the refinance is going to pay 5% on a 4plex that can be converted to a 5plex for about $100 (What a great deal).

The 5plex is expected to rent out at a total of $600 per unit at a purchase price of $125,000 with no immediate repairs needed.