Ready to do SOMETHING - Market help

[Dan Waugh]

There's dozens of houses that are ready to be bought. Most are in Baltimore and will require some extensive weekends, if I do it alone. My girlfriend/partner is a go-get-er and knows how to swing a 9 oz hammer but with all these houses, some are posted with the AVR and rehab costs, plus comps. One guy is selling 6 homes for 30k cash or 150k total for the 6 (buy 5 get 1) and the rents are 7-900 each. To me, that means that he's collecting up to $4,200 on each one and, theoretically, if I could find a lender .. Essentially, the low end would pay all the mortgages and give me nearly 2k/mo. I'm not sure about all this, though. 

Is there any advice? Maybe a lender or partner that could be paid off later? Dying to do something next month and get out of my shell.

[Account Closed]

There's dozens of houses that are ready to be bought. Most are in Baltimore and will require some extensive weekends, MY THOUGHTS -- Some of those houses could be valued at between $500- and $5,000. Be aware!  if I do it alone. My girlfriend/partner is a go-get-er and knows how to swing a 9 oz hammer SUGGESTION -- Do as she says when she has that hammer in her hand!  but with all these houses, some are posted with the AVR and rehab costs, plus comps  WHO IS TELLING THOSE SO CALLED FACTS? -- anyone can say anything, numbers lie as well as sellers who are self serving. One guy is selling 6 homes for 30k cash or 150k total for the 6 (buy 5 get 1) and the rents are 7-900 each OK....Check the facts and the history behind the houses, get rental records and always offer less, make sure you look at the neighborhood during the day and drive around after 10 pm. To me, that means that he's collecting up to $4,200 on each one and, theoretically, if I could find a lender THE LENDER--  you find will know the area and will give you an education after turning you down for a loan (unless you put up additional collateral, a co-signer and he rights to your next record album.)  Essentially, the low end would pay all the mortgages and give me nearly 2k/mo. YOUR NUMBERS, IF CORRECT --- will entitle you to take care of 6 families that are responsible to pay you rent each every month they rent from you, your other job is to collect rent, listen to maintenance problems, attend rent court, clean up the vacancies and deal with housing code violations, securing the property from squatters, taking care of the lawns and snow all the while making mortgage payments.  I'm not sure about all this, though.

Is there any advice?YES, only my opinion written in bold above. Maybe a lender or partner that could be paid off later? Dying to do something next month and get out of my shell.  You can get out of your shell with this deal, but you may come out of your shell, but be incarcerated to a job that will eat your alive!

Sorry to be negative. I would suggest doing one deal at at time until you get the experience to do more.

Charles