All Forum Posts by: Tom Server

In some situations, I might put a blind offer on a property but I would put in contingencies that would allow me to walk if it's not what I expect and never close without having viewed it.

of course! I was born at night , but not last night !!

1 Vote

Quote from @Bill B.:

See what I mean about reduced competition? At least two posters said they wouldn’t even look at the deal. That’s what makes these a win. You eliminate anyone who wants a reason not to put in an offer. If the property was $30k more and cash flowed only a $1,000 instead of $1,200 suddenly they be interested if they could see the inside. You’re being paid to be an investor. Nobody expects you to close without seeing the inside and making an offer costs nothing

Bill thank you for the encouragement!

1 Vote

Quote from @Bill B.:

Try posting the numbers of any deal today that cash flows $1,400/mo. People are dying looking for $1/mo positive cash flow. (A $250k property with 20% down with zero insurance or property taxes where each side rented for $1,400 probably wouldn’t cash flow $1,400)

1) ask a local PM how much they think they could rent the property for . (To make sure the rent isn’t being inflated)

2) there’s no problem having “outs”. Simply verify the leases and the deposits. You get the inspection, the law will have a notice period but beyond that they have to allow inspections.

Personally, I’ve purchased $500k properties without seeing the inside until the day of closing. That’s not the downside. It SHOULD keep the competition away and give you a better price.

property going for
$225,000
rent $1350
rent $1500
taxes $3620
ins $1500

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How is the vineland millville market?

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Would you ever put an offer on a property with out looking at it if it cashed flowed $1400 a months ?

Here is the situation, the property would cash flow about 1400 a month.. tenants are not letting anyone view the property. I was thinking of putting in an offer since it cash flows,(low offer) and during attorney review allow my self an out with any bad findings of the home inspection or the tenants records of payments not caught up ? I know I'm taking a gamble of with ordering a home inspection and then tenants not opening doors.. but i feel tenants are probably annoyed with different people coming to see their homes.. but if planning a few weeks notice to let them know of a home owner inspection.. they might cooperate ? Thoughts?

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So I'm in the process of purchasing my first triplex. The property currently had 3 tenants paying under marker value.. I'm still cash flowing. My questions is 2 of the units contracts are up on Feb 2024 and the other is up sept 2024. All tenants have been there over 5 years. I seen the lease agreement and I don't see anything about the 3 car garage on the property. The 3 car garage is detached and has one of the units above it. Their main electric circuit board in the garage.

Inside the 3 car garage is all kinds of their personal storage, I don't know if its from all 3 units or from the unit above..

What is the best way of finding out whose stuff it is?

How long of a time frame should give them to clean it out ?

How do I go about charging them. ? should I assign a bay to each unit?

I also cant have it locked up cause the upstairs units electrical box is in there.. any suggestions?

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What's a good cash flow for a duplex home? Is $400 a month positive cash flow worth all the possible risks and head aches?

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hello , did you open one up.. would love some assistance

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Any suggestions on managing my property while living 2 hours away?

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All Forum Posts by: Tom Server

Tom Server has started 52 posts and replied 116 times.

Post: Blind purchase of a duplex

Post: Blind purchase of a duplex

Post: Blind purchase of a duplex

Post: Blind purchase of a duplex

Post: investing in South Jersey

Post: Blind purchase of a duplex

Post: garage being used as storage

Post: cash flow.. whats a good number

Post: How to open a New Jersey LLC ?

Post: long distance property managing