All Forum Posts by: Bil Casimir

Would you guys rent a house out with a pool? I am asking for trouble?

Thanks,

BP,

I am new to Sub 2, I was hoping to get some feedback on this deal.

ARV: $195K

Rental: $1850/month

Rehab: (Carpet, Granite updates in Kitchen and bathroom, fixtures, and landscaping) $22,000

Cash to take over loan: $23K+Closing

Interest rate: 4.625%

Unpaid Balance: $142K

PITI: $1650 approx

Principal: $258

Interest: $538

Escrow: $850

Maturity Date: 08/2040 Looks like 23,000 plus closing fees, plus 22,000 rehab, I would be out $45,000 approximately?  

ARV: $195K
Rental: $1850/month
Rehab: (Carpet, Granite updates in Kitchen and bathroom, fixtures, and landscaping) $22,000
Cash to take over loan: $23K+Closing
Interest rate: 4.625%
Unpaid Balance: $142K
PITI: $1650 approx
Principal: $258
Interest: $538
Escrow: $850
Maturity Date: 08/2040 Looks like 23,000 plus closing fees, plus 22,000 rehab, I would be out $45,000 approximately, no way someone going to give me $45,000 down to owner finance. 

Appreciate it guys, Going to stick with what I am good at, wholesale and fix and flip!

Thanks,

Doug, that was great information, I appreciate it!

Jerry, owner financing is what they are doing! 

I keep reading this is a bad deal but I know of 5 investors in Houston that buy subject 2 properties all the time with similar numbers.

Sorry guys for the confusion.

I would pay out of pocket $13,500 plus some closing fees to take over this house. I realize there is no equity in the deal but I was thinking renting the house out or owner financing with 20% down. 

With the rentals in the area I show $200 monthly cash flow..

Hope this helps,

I am trying to help my mom purchase some rental properties. We have wholesaled and flipped houses but never purchased homes for rentals. Trying to figure out if this is a good opportunity, looking for some input.

The Number:

ARV 135,000
$13,500 Price to take over
Rents $1350
3.5% Interested Wells Fargo
22 years left on the loan
Loan balance $152,000
Yearly Taxes $4057.00 or $338.00 per month

Built in 2008 House is in excellent condition

Thanks,

I live in Texas I want to know if there is a service that can obtain death certificate in 24 hours? Trying to close on one my deals and the only thing holding this up is the death certificate. The deceased passed this year, so it shouldn't take long. I was going to order from the the State of Texas website but they say it would take 10-15 days. Any suggestions?