All Forum Posts by: Susie Ivanov

Hello! I saw a post from you 3 years ago regarding buying a foreclosure with tenants. I just “won” a foreclosure with tenants at auction yesterday and will be hopefully closing in 4 weeks. Did you end up buying that property wholesale with tenants?  Wondering how it worked out! 

I see what you are saying! Thanks! 

I am investing in Cincinnati OH and I am having trouble finding a realtor that is willing to put in more than 1 offer for the same property. I don’t know if the seller is looking for a higher price or if they just want to be done with the property. Therefore I want to enter 2 offers, one for an as is lower price where buyer pays everything and one for a higher price where we have inspections and seller pays most things. Any thoughts?! 

@Ron Brady sounds like you have been scaling quickly! Thank you for the insights! I hope to follow in your foot steps! 

@Jon Kelly, @Dan Sundberg, @Andrew Syrios

Thank you for these points, and for the numbers, these are the types of thought processes I need to be going through!

I am working on my first BRRRR and just finishing up the rehab. I purchased the property in Nov, 2021 and at the time when I pulled comps I was looking at between 160K-180K. I had budgeted for 160K for the refi and rent would be around 1600 per mo which would cash flow 200-300/mo. Now pulling comps they are more north of 200K. I am thinking if the appraisal value comes higher I could either:

1. Still borrow that money with potentially less monthly cash flow for the first few years on this property but giving me more capital to scale, OR

2. Only take the 160K as planned which would still not leave any capital in the property. 

Any advice or a hidden 3rd option I have not considered?  Thanks so much for any expertise/insights! 

@Shaun Troyer

So you and her would agree upon the terms. If the terms were payment over X-yrs +/- down payment +/- interest you’d determine the monthly payment and then subtract that from market rent and that would be the payment she’d give you each month. With some creativity and an open discussion of her needs and you being aware of your numbers you may be able to find a win-win. 

Does she have a mortgage? If not, I’d approach her with seller financing.  0 money down with infinite returns so there’s no cash in the property. Sounds like a dream!  

If you would share the TK co and PM that would be huge! I’m like 15 minutes from Hamilton. Let me know if I can help. 

Have you checked out your local RE association? Here is the link https://www.acreia.org/ 

They should have networking events for your area! Also sometimes they have vetted vendors including agents etc. Good luck! I am just starting out myself with my first rental.