Reminder: we go live in 15 minutes (3 pm EST). Click the link in the Calendar to join Bring a rough idea of your income, expenses, and current rentals if you have them.

@Benjamin Rosales If your goal is “turn-key/cosmetic” for your first few buy-and-holds (and you’re out-of-state), this one reads like a heavier rehab than you want. Major issues from the inspection: rotted floor joist in the crawlspace (structural), roof sheathing damage tied to missing drip edge + rotted rafter tails (roofing/trim), exposed/loose electrical and missing drip loop (life-safety), water heater is 2006 with a leaking TPR (replace), damaged/uninsulated ducts, and exterior wood/siding rot needing real carpentry + paint. That’s beyond “cosmetic.” My advice: 1. Either negotiate hard or walk. For a first deal, I’d pass unless the price reflects a full repair budget + contingency. 2. If you negotiate, anchor with a bundled concession based on rough ranges: structural/joist & porch $5k–$15k, roofing/drip edge/sheathing/rafter tails $6k–$18k, exterior siding/trim/paint $6k–$15k, electrical corrections $2k–$6k, duct repairs/insulation $1k–$3k, new 50-gal electric water heater $1.2k–$2k, chimney/masonry $2k–$6k, misc. safety (handrails, GFCIs, etc.) $500–$2k. That’s ~ $24k–$67k. On a $180k contract, I’d open near $145k–$155k or ask for equivalent seller credits/repairs by licensed pros with receipts. 3. Get a structural engineer letter to quantify the floor/foundation items before you commit (typical ~$300 and worth it). The report already flags a rotted joist and foundation concerns. 4. If seller won’t meet price or fix major life-safety/structural items pre-closing, terminate and move to a cleaner, more “turn-key” deal to match your strategy. Bottom line: great learning rep, but not a great first out-of-state rental unless you get a deep discount and licensed repairs tied up in writing.

@Benjamin Rosales I just skimmed the engineer’s letter. It calls for sistering multiple cracked/broken rafters (and removing the temp attic support), through-bolting the dropped girder, adding several 6x6 posts on new concrete footings where spans exceed 4', reinforcing a girder splice, adding posts at a flush beam, and doing pest treatment. Given that scope plus the inspection items (water heater/electrical/ducts/exterior rot/paint), this isn’t a light cosmetic turn-key. Here are my thoughts if it were me: At a target of ≤85% all-in of the ~$181k ARV (~$154k), and a realistic rehab budget in the $30–60k range, an ‘as-is’ max price for me would pencil closer to $105–$125k. If the seller wants the $140s, I would need them to complete the engineer-specified structural work + life-safety items with permits/receipts before closing. Otherwise I would be comfortable opening low and getting bids this week, but if you can’t make the numbers work, I’d walk and pivot to a cleaner first deal.

go to the calendar tab above and click on the link for Saturday's event.

@Fabrice Siellinou https://www.skool.com/live/tq6MQZFZbFl also here is the link

@Colleen Kamimura I will post the recordings in the classroom tab. I was going to start recording this week but alas it was just I in class so there will not be a recording. I will likely record the lesson I was going to do tomorrow though and still post it. I think with the holidays people are busy with fun family, friends and shopping :-) I am kind of relieved though because Canva seems to be down so my presentation wouldn't have worked anyway!! I'll record tomorrow, hopefully Canva will be back up and everyone can still get the info when they have time to watch 😁