All Forum Posts by: Trent Dues

Best of luck Troy! If you aren't already, listening to the Bigger Pockets podcast will give you some of the best advice out there, outside of speaking with experienced investors directly. Be sure to have a written business plan and run your comps through a reliable software program before placing an offer on a property to make sure the numbers match your goal for the investment.

Best of luck Heather! I lived in Columbus for five years, and just visited friends living in Grandview last week. Columbus looks nothing like it did a few years ago. The city is changing and growing rapidly, and a lot of new businesses are moving into central Ohio. It's a very hot market to invest in.

Hi James, are you doing most of the renovations yourself, or do you have a contractor handling the labor? Your costs will obviously jump if you buy out of state and have a third party doing the contract work, but the turnaround time to get a tenant in place or sell the updated property may be worth it. What areas outside of Cincinnati are you targeting?

Best of luck Christie, that's a great attitude to have! Have you already located a property or a general area that you plan to focus on? What are your timeframes for the rehab and flip? Is your team doing most of the hands-on work, or do you have a contractor lined up and just need the financing side figured out? I'm guessing a hard money loan is likely what you are searching for, but that depends on your timeline and financials. You could look to source a seller-finance or subject-to mortgage if you don't want to be pressured to a quick turnaround time to pay off a higher interest hard money loan.

Getting into business with family only ends in one of two ways, and its often times not positive. Is there a specific reason preventing the owner from selling to you outright? I would think it'd be pretty simple to calculate his actual rent income based on the properties current conditions and explain that at best, the tenants in place stay for years to come, he continues doing the bare minimum, and his highest predicted income is x dollars, barring any emergency spending to keep the tenants happy. Compare that to your offered purchase price and surely it would be more profitable for him to wipe his hands clean and let you take over.

The easiest route is likely to narrow into a general region or city, and find a real estate agent who knows that area and can source off market properties or utilize the MLS. If you don't want to pay an agent, your next best option would be to locate wholesalers in the area and find out what properties they have under contract and have them send you comps. Then get an inspection done and run numbers to see if their ask price makes sense for your goals of the property.

The exclusivity agreements are popping up more and more as the market is struggling, and agencies losing business with the limited buyer pool right now. But, keep in mind, the agents 3% commission is coming out of seller proceeds. You as the buyer have access to the agent and their knowledge and hands-on in the area experience and at the end of the transaction, you're only paying them $350 out of your pocket

Hi Bryan, what type of projects are you looking to take on? Some wholesalers tend to specialize in finding SFH properties while others focus on multi units, and I think any recommendation given is dependent on how much rehab you as an end buyer are looking to take on.

Who are the water, sewer and garbage providers to the property, and what townships are your properties in? At a minimum you will want to have these three bills in your name so you can monitor and pay them on time. The majority of water, sewer and garbage providers in PA are able to file liens against the property that will become your responsibility when the property is sold. Even if the tenant has an account in their personal name, the liens themselves stick to the house, with a few exceptions, such as PA American Water. That said, other utilities like gas and electric typically follow the tenant in most PA townships; one exception being the City of Philadelphia where all utility charges are paid out at close by the seller.