All Forum Posts by: Adah N.

@Kyle Scully

The commercial lenders I spoke to wanted more than 25% down and shorter term.

@Arnie C.

It sounds like you have done a lot of the homework. I say buy if the numbers make sense. Plus you can buy with low downpayment since it will be Owner Occupied.

Would you buy a 2-4 unit property that needs 85% increase in rent to match market rate and purchase price?

@Jason Moomaw

In this scenario seller could have easily put house up for sale, sell for 600k or even 500k( OP said house was worth 600k). Next pay off the 250k mortgage and keep 250-350k. Now why would any sane person agree to 100k?

@Rob Golob

100% agree with @Rob Golob.

@James Thomas it sounds like the homeowner was either not of sound mind, extremely naive about real estate and her property value or was scammed into selling her house.

I also think you are about to commit a scam by selling to an unsuspecting buyer. You could all end up in a lawsuit triangle.

Perhaps consider renegotiating and paying closer to what the house is worth.

You can give them two options, sign a lease with Market Rate rent or stay month to month with inflated rent. That is how a short stay landlord got me to move FAST at the end of a 3 month lease. 

@William Walker Touche

I am surprised by the responses. Where are the "I self manage my property" investors? Pretty sure I have come across a couple posts. 

I remember reading about the investor who guts most of her rental properties. Since everything is new, calls are few and far in between. She uses a service to rent it out and self manages her properties with one of those apps. 

@Tim Oppelt

Thanks Tim. What kind of budget are you seeing in your other markets?

Exactly what should I Google? “Wholesaling PPC” Or pls send me a message with your web address.

Thanks!

@Josh McRay

Great, thanks. I could only come up with 7 key phrases and was not sure if I should force in some more.

What kind of budget have you found is needed in your markets?