@Tariq Khan Thanks! Enjoy your time in Ohio but pack warm clothes! Maybe we can meet up at a local REI meetup. I've been to NOCREI once but would like to start going more often.
@Justin Wotring way to go
@Chris Christensen thanks! We did a video walkthrough on a couple other properties that didn't work out for one reason or another. Between the photos he sent of this property on a previous walkthrough with another client of his and photos from the property inspection, I felt confident on the condition and knew what work needed to be done. The goal is to raise the rents in the spring of 2020 after we tackle the immediate repair lists from the property inspection, tenant requests, and provide value adds. The biggest expense will be a new roof in the next 2-5 years.
@Daniel Mendez right here on the forums after asking for referrals! We PM'd and then had a couple phone conversations to ensure our goals aligned.
Thanks @Victor Gutierrez !
@Chris Christensen Tomorrow I'll post some before/after pics and explanations of some of the repairs.
@Justin Wotring congratulations! I’m also looking into purchasing my first multi family unit.
Sounds great! I look forward to seeing them.
Very nice Justin! I grew up going to Cedar Point. I live in Long Beach now. It would be cool to meet up sometime and chat. I have some property in the metro Detroit area and am looking for other opportunities as well. Please PM me if your interested in chatting more.
@Justin Wotring Congrats. Impressive your first house is out state and a duplex.
@Justin Wotring Congrats on your first purchase. I am hoping to be in your shoes sometime soon myself.
@Justin Wotring congrats!
Congrats! You bought a out of state multifamily as your first rental, very brave. Sounds like you haven't seen the property in person, that was so awesome.
@Justin Wotring Thanks for sharing
@Justin Wotring Congrats! I'm familiar with that initial fear, we're offering on our first possible deal. Glad yours went so well, it's encouraging!
@Justin Wotring hi congratulations. I'm planning on doing the same. Do you have an LLC. How much is your estimated cost for renovation. Thanks
@Justin Wotring : wow congratulations!
You got your team in place and MOVED FAST!
This is how to do it!
@Chris Christensen here's some pics of the initial repairs we did. We had to remove all the shrubs in front because they were causing the grading to slope towards the foundation which allowed water to get into the basement. We removed the shrubs and threw down some dirt to help guide rainwater away from the foundation. You can see the the water damage and mold in the basement pics below. We removed a rotted wood storage area and bleached/scrubbed the entire wall and sealed it. Night and day difference!
@Justin Wotring congratulations
Wow, awesome work! How much do you anticipate would be your renovation cost?
Congratulations!! I’ve been looking for a deal these past two months but can’t seem to find one. I’m not saying there isn’t any in my area, but maybe my lack of experience isn’t helping. I’ve considered looking elsewhere, in other markets, like you did, but I’m a bit scared. Any tips you can share when choosing a market, or how and why you chose Ohio? Congrats once again!! Way to take action!!
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