All Forum Posts by: Benjamin Allen

Dominic Jones

Yea I turned 24 in August. Yea for sure thank you for posting!!!! Wow, 20-50 units Big Swing how many do you own now?

 Yea man, its very area specific in my opinion, but being a stalker on there as well as having a good relationship with your agent usually always helps to properties to go see then eventually deals.

I used an agent and also stalk the zillow website. Its in the finger lakes region in upstate New York

 I actually live extremely close to stomping grounds!!!! I love it! Thank you for posting!!!

John Van Uytven This is the beginning of my second year end of my first year of investing in Real Estate. I want to purchase 2 properties every year. I am very excited I am looking to continue this process at least for the foreseeable future. Last year I was thinking only one property per year, I have a feeling my goals will grow as my level of wealth increases to be honest. Thank you for taking the time to respond I really appreciate it!

This is my 3rd party and I'm so excited! I did the math I should be cash flowing 8k a year after all expenses, I believe it is a great deal in my opinion. I have a plan to implement over these next 5 years to by the time I hit 30 years old to quit my job, and to own over 20 units also 7 properties. I would like to be producing maybe 3 times the amount of money I currently make at my job now. They asked 55,000 I offered 45,000. We ended up settling on the purchase price of 50,000, oh and I almost forgot, this has only been on the market 3 days! 

Hello Everyone, I just about finished my investing for the first year as a real estate investor. I have one SFR investment property and one duplex I currently live in one of the units. I have a meeting with my CPA, I'm curious what documents should I have? What type of documents should I keep in the future? I've already been keeping track of my receipts, but should I keep bank statements? I only use this account for my real estate. Any help, would be most appreciated thank you!!!

 So, My agent posed the question to their agent, I got them down from 114,000 to about 95,000. In all likelihood, if I'm able to be patient I think I can get to to 85k or 90k. Not bad in my opinion. I should be able to put the offer in a few weeks as soon as I can sure up all my financing. 

A big reason I'm tempted to make that offer, they've stated they inherited and just don't want to take that "headache" anymore. When I saw the property earlier this year, I told them up front if I made the offer it would be a starting point not a take it or leave it option.  While I agree the property value in the area are comparable with the 100-120k value. I refuse to buy unless I get it at least 10% under market value, using this I automatically again value from the purchase, even allowing me not to put down as much while til "putting 20% down"

I've had my eye on a certain property for a few months now, I would have to raise a little rents that are current, but ultimately I should get around 45% cash on cash return. The assessed value is around 125,000 for a 4-plex. They are asking 114,0000. I want to put an offer in at 70,000. What should my back-out acceptance value be? I value this based on the numbers I've calculated and also being that the utilities are not separated. I'm think I might just hand them the total utility bills quarterly or monthly had have the tenants reimburse me after the fact, bad idea? I was wondering your thoughts biggerpockets! This is in line with my goal of getting close to cash-flowing one property at 1,000 per month. This would be around 800 per month and I will attempt to pick another one up later in 2016. I accomplished my firsts years goal in real-estate by cash-flowing 500 per month from my portfolio. 2016 is to have a total of 1,500 per month cash-flowing in 2 years.