All Forum Posts by: Ayodeji Kuponiyi

@Curt Davis never mind, I just Google it and found it. Thanks you so much.

@Curt Davis an online mortgage calculator? That's a great idea. Do I just Google 'online mortgage calculator'?

Before I can analyze a deal and calculate the cash flow, I have to factor in the mortgage payments. Do I call a bank to find out what my mortgage would be on  property first? 

@Ethan Giller LoL good point. I know all you have to do is include add up monthly rent - expense (PM, Taxes, Insurance, Vacany, Repairs) = Cash Flow. My problem is figuring out/finding the total taxes to factor in. In terms of mortgage, would I have to reach out to local bank to find out what my mortgage would be first?

When crunching numbers to figure out if a deal is good or not, I find myself realizling that aside from property taxes, I have to factor in school & county/borugh taxes. This is probably why so many homes are still for sale for over 200 days. My father in law informed me that in the Philly area: the only tax you pay is property tax! I could't believe it. I'm now ditching my initial idea of buying & holding in the burbs to now looking into the city. Any thoughts on this? 

 Well said 

I mentioned utilities like water or electric for when it's vacant

Very creative and interesting. Thanks for sharing and congrats!

I suggest you look for homes in suburbs not to far from downtown(Center City) as well as areas near universities.

My wife and I want to buy a house. We own a duplex free and clear. We rent a unit and live in the other. To maximize on cash returns and cash flow (as well as keep the wife happy) we are looking for a SFH. We found one but the questions are:

• How can we buy a house using $5K as downpayment and having the seller pay closing cost? 
• How can we get buyer's assistance even though we already own a property already? 

I'm not sure if there's any program in PA that could help. I'm thinking of trying Seller's financing but can't seem to find the numbr of the company that renovated the house. 

I suggested to my wife that we could refinance our duplex or get a HELOC to cover closing costs, but my wife thinks that having a mortgage on the duplex may hurt us in trying to get a loan for SFH. I understand where she's coming from so what are our next options?