HOW TO DO IT OR, SOMETHING YOU WISH YOU KNEW TEN YEARS AGO.

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Presentation transcript:

HOW TO DO IT OR, SOMETHING YOU WISH YOU KNEW TEN YEARS AGO

Introductory contact I will send an introductory to Missy on your behalf. I will also provide you with her and personal contact number. You will have an opportunity to have any and all questions addressed by Missy directly.

Financing You may purchase the properties cash, but many people choose to leverage their purchase with a mortgage You can choose any lender you want If you don’t have a lender, we have one who has worked with Missy’s clients for many years. The rates are fantastic and he knows how to close the loan! I would be happy to provide all the contact information for this lender upon request

SELECTING THE PROPERTY AND ENTERING CONTRACT Once a month a new selection of homes is released to the market Properties are sold on a first come basis Properties can be reserved for a brief period (2-3 days) I would be more than happy to help you select the property that best suits your needs A standard Ohio purchase agreement is used; you can see a copy in advance The escrow period is typically 45 days

PROPERTY INSPECTIONS-DUE DILIGENCE Once in contract it is recommended that you get inspections through a third party Several independent professional home inspection companies are recommended but you can select any company of your choice A property inspection typically costs approximately $250

Closing A mobile notary will come to you with the escrow documents at a time of your choice; the signing typically takes about half a hour. You start collecting the rents from the day you sign- regardless if the property is tenanted at that point. Distributions are deposited automatically into an account of your choice on or before the 15 th of each month. That’s it! You are now on your way to building your portfolio of cash flowing rental properties.