All Forum Posts by: Andre Wilson

 Thanks for your response 

After doing some research I found out that the property does need a little bit of cosmetic work I'm doing a walkthrough this Sunday so I will have a better idea of what work needs done the property was once a double that was de-converted, also there is a lien on the property of about 18k which raises great concern, seller says they will take care of the lein at closing.

Thats all the info I have for now until Sunday.

 lol appreciate it

 I spoke with my bank which, is a credit union and was told they cannot lend me money for investments.

Hello BP, 

I've been looking to purchase my first income property and I have found one that I really like at a good price but I just need the money so I can get things rolling. I spoke with my bank which, is a credit union and was told they cannot lend me money for investments. Now I feel stuck and I am not a fan of hard money lending because of the points and high interest rates. Are there any banks that are investor friendly or do I need to create a plan and projected rents before I approach the bank? I only need about 15-20K and I'm all set.

If anyone can point me in the right direction that will be great!!

Thank you!

@greg 

@Greg Mossundefined

What are the red flash that I should be aware of??

I haven't called he seller yet to get the full details yet 

Hello BP,

Last night I came across a good deal where I feel this can be a great opportunity to acquire my first rental but wanted more insight heres the breakdown:

The property is located in the city where there is some crime but the address is on a decent street

It is turnkey with current tenants paying 1125/month

Tax assessed at 30k, the seller is asking for 24k

It is a 5br 2bth home

I am assuming it needs no work since its currently rented, should I attack this deal or walk away? Personally I do think its a good deal and I would like to negotiate for a better price but I wanted more insight from experienced and seasoned investors.

Thank you!

Hello BP,

Last night I came across a good deal where I feel this can be a great opportunity to acquire my first rental but wanted more insight heres the breakdown:

The property is located in the city where there is some crime but the address is on a decent street

It is turnkey with current tenants paying 1125/month

Tax assessed at 30k, the seller is asking for 24k

It is a 5br 2bth home 

I am assuming it needs no work since its currently rented, should I attack this deal or walk away? Personally I do think its a good deal and I would like to negotiate for a better price but I wanted more insight from experienced and seasoned investors. 

Thank you!

@Ethan Summers

Thanks for the info! I will let you know how my search went.

@David Lecko

Ok thanks for your input 

@John Hickey

Thanks for your advice I think handing out cards is a major plus I just created my business cards and cannot wait to get them in the mail to pass them out