All Forum Posts by: Ashley Kehr

Congrats on your first investment property! How long do you expect the rehab to take? What is your estimated monthly cashflow once it is rented? I am currently under contract on a property that has a mobile home on the land. Very interested to hear more! 

Congratulations on your first rental deal! I love that you did your market research and found a deal out of state. How did you go about finding a contractor?  Did your realtor give you recommendations on contractors or did you do a google search and just call some? 

I think its awesome you want to get started so young! You can definitely do it especially in the Buffalo market. My sister purchased her first duplex at the age of 21 right out of college with only a job offer. She did an FHA loan where she put 3.5% down. I actually partnered with her on the deal. I gifted her the down payment and closing costs (your dad could do this). The FHA mortgage would be in your name and the deed would be in both of your names. It has worked really well for us. My sister is living for $45 a month in a 2 bedroom apartment and her tenants are building equity in our house. We split all repairs and when she moves out we will split cash flow. This beneficial to your dad too because if he purchased a property he would most likely have to put at least 20% down and this way he becomes part owner with a small cash investment.

Hi Raymond, I would recommend Towne Housing. Jeremy Ballsmith is the owner. I think he is a member on BP. 

@Travis Watts thank you for the recommendation! I will check it out!

@Pat L. Thanks Pat for sharing your recent experience! I’d most likely be bidding on properties outside of the city where I know the building inspectors well so I hopefully won’t have any permit issues!

@Michael Lina thanks Mike, great advice. Do you own a paving company? If yes you’re paving for me in Springville soon!

@Joe M. Thank you! I appreciate that!

Is anyone from the Buffalo NY area attending the Erie County Tax Foreclosure auction coming up? It will be my second time attending but I didn’t purchase anything the first time. I’ve gone through the list and found properties I am interested in. I’d love any tips for bidding and selecting properties at a tax auction. Thanks!

@Jody Vilcheck I purchased property in buffalo two years ago and last year. They were both reassessed recently for almost double. The taxes on one decreased and the other increased by $41. I haven’t done a deep dive to see why but that’s what was on the assessors statement. Are you owner occupying the unit? If not I’m interested in what bank you’ll be using to get 4% for 30 years on an investment property. I have great credit, two years of rental income, w-2 income and can’t find below 5%! Thanks!!