All Forum Posts by: Bill E.

Looking at picking up a duplex for 15k, needs 30k rehab. Arv is 70k. If I go to my local bank to get a mortgage on the property and they appraise it for 70k, how much would they write me a check for?

Grant Cardone states that buying anything less than a 12 unit is a bad move. For someone just starting out who may have 1 property or less and not a lot of capital, is this good advice? How do you all feel about this?

Before you do anything, you should read and learn as much as you can

i wouldn't. you may have to lower the rent if you aren't getting enough interest.

what is your end goal?

i used cozy.co worked well.

I understand during a turn over the utilities have to go back into the landlord's name. My question is when a new tenant is moving in, what information do you have to provide them with to put the utilities into their name? Obviously they need to know the utility company, but do they need the account number or will they be provided a new account number? Also how do you check that they did in fact put the utilities into their name?

It's standard for a tenants monthly income to be 3x the rent, but is that for each tenant occupying the house or is that combined ?

I would try different lenders, you will find one that will work with you. Go to all of your community Banks. I wouldn't wait a year just because this one person told you to. Ask to speak to someone else. Time is valuable and you need to have control over your time.

I say go for it! If you find one that you like, and the numbers work, why not do it? I think it's the best way to get a cash flowing property for low $. Don't listen to the nay Sayers, just because it may be hard to find a deal or make it work, doesn't mean it's impossible and that you shouldn't go for it. Just my 2 cents.