All Forum Posts by: Account Closed

Hello Dillon 

You have an interesting market you are in, it is overpriced in most areas, however the population is exploding, in the last 3 years and will continue upwards for many years to come.  I mean, the best thing is if you can get a small group of people together, each with their own strengths.  1 in construction, 1 with technology, 1 with real estate etc.. 

Hello 

Does anyone have a good property management app/web that is easy for tenants & landlords to use, which they recommend 

https://www.meetup.com/Philadelphia-Real-Estate-In...

this is a good place to start 

Good question, and very fair, Yes it is possible without cash, I have not pursued those avenues since I had cash in bank in the beginning.  

The real question is why do you want to get involved with real estate, whats your goal.  

Also, which city are we talking about 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Bradenton.

Purchase price: $175,000

Cash invested: $50,000

Duplex, 1,800 square foot located in bradenton FL, good working class area very easy to rent with expected appreciation and high rents. Currently rents for a little over $2,200. Got a conventional loan through Chase Bank, with 25% down, put another 20-25k into replacing the roof, and other other things to it.

What made you interested in investing in this type of deal?

The cash flow along with the good area it is located in, as well as good purchase price

How did you find this deal and how did you negotiate it?

Through an excellent agent I work with in the Bradenton/Sarasota/Tampa area

How did you finance this deal?

Conventional, 25% down

How did you add value to the deal?

New roof, new electrical panel, new ac unit, minor paint touch ups

What was the outcome?

The ARV is easily worth 225k

 SPOT ON WITH ADVICE, couldn't have said it any better 

Heather grab a good agent in the area, and don't worry about anything else besides focusing on the property, and getting it for RIGHT PRICE ,  LOW BALL HIM with cash, and refinance little later down the line.  

Title companies take care of the money transactions, you will not be giving him any money into his personal bank account EVER.  

Can you purchase the home cash? How long have you had the LLC for, and what does the cash flow look like. Do you have a good relationship with a certain bank? I am interested in knowing how this goes for you, keep us posted