All Forum Posts by: Monique Bright

Hello all I am a property manager and have been for the last 15 years. I am looking to purchase my first investment property. As a single parent I chose to purchase a family home first. So my savings is pretty much depleted at this point. Does anyone know of any creative financing or will to JV a deal with me? I'm trying to put little to no money out of pocket. I am willing to manage the property and refi to get your money back. I am in the Atlanta area.

@David Fernandez yes the numbers are right.  I appreciate the feedback and I think you guys are right.  It would be a great deal for someone but not me at this time.  I do have a question though.  What is the best way to finance deal with no money down?  I have been reading several of the forums here, but I just want to make sure I present the offer well and it makes sense for both me and the seller.  This is a 72 unit for $540k and it's 61% occupied.

Hi my name is Monique and I am currently a property manager.  I have been in property management for the last 10 years and I have always wanted to purchase my own property.  I ran across a deal and because I'm a newbie to investing I would like some feedback.  It is a 102 unit property with 1,2 and 3 bedroom units, it is currently vacant and selling for $490k.  The owner is offering owner financing and is willing to rehab 10 units to be rent ready.  My questions are:  If I were to do the owner financing what should I ask for as far as terms go?  Because the property is in need of rehab I don't feel a down payment should be an option.  My other question is where would I get the rehab money from?  Should I try to do a 2 fold like a owner financing/repair allowance deal?  Is that even something that can be done?  I really like the property and I would love to be able to purchase it.  Any advice would be helpful.  Thank you

I want to thank you guys for your input. I have actually been in property management for the past 5 years, I just don't want to work for anyone anymore. I want to buy, sell and rent. I would like to find someone to finance my first couple deals. I don't want to just manage I want to be involved in all aspects buying, rehabbing renting/selling, and managing. I have been doing a lot of research for the last couple years because I really want to do this. Again thanks everyone I will continue trying to save money to make my dreams come true

Hello everyone,
I am a newbie! I have been wanting to invest for a long time but I don't know if I am scared or just don't know where to start. I live in Tampa Florida and there are so many cheap houses and this is the best time to buy here. I just don't know what to do I don't have much money and my credit is not great so how do I buy my first property?