All Forum Posts by: Bishoy Girgis

@Jake Gaines hey man i would totally disagree that TKs are good for starters but i completely respect your point of view and might i add it is alot better then if you arent in the position to be able to  just as mentioned by @James Wise they are awesome if you dont want to do anything (basically learn anything and can sit back and be know FOR THE MOST PART) that your investment is doing alright....BUT if you do want to learn i would recommend to go find a fixer uper thats cheap and get some real hands on experience regarding costs of repairs (which includes carpet kitchen washroom) but if this isnt something you are trying to get into and simply just wanting to put your money somewhere safe and make a small return then TK are one of the best and im with you if thats what your trying to do 

Best of luck in the future man

hey @Lee Behr how do you owe 64k in debt when you bought the property for 62k all cash?? my advice would be just rent it out especially at that rate your getting almost 1.5 percent so thats not a bad deal at all

hey @Kevin Phu yeah you should deff set up some guidelines for yourself....each market is different also it depends on what deal you are looking for....rental....fixer...buy and hold??

hey @Lindsay Johnson If your tryna get into the house flipping business some keyyyy aspects would be for you figure out costs of repair like how much contractors are charging in your area...(takin out carpets and putting in wood/tiles....kitchen .......washrooms....paint....electrical complications are the big ones) youll also want to know whats desirable in your area...you know about construction so some areas people like concrete build others wood frame ykno what i mean 

you also wanna look for properties that are foreclosed don't know how viable that is in your area (thats how i find most of my flips) 

a HUGE piece of advice is do not look at a ruined house and think ew...think opportunity to put in 1000 dollars in and get out 2000.... that usually comes with more experience as well as having no emotional attachment to the place you're just trying to make money not marry your house lol

Best of luck and if you got any specific questions just shoot

@Arthur Leao my apologies i thought you were talking about foreclosures.. but it works roughlyyyyy the same jus as mentioned price is set by agent n owner but there usually looking for around that 

Hi @Arthur Leao i do most of my business in florida so my info might not directly be the same to your area...most banks want to get AT LEAST 80-85% of there asking price so you want to give them about 75-80 and see if they'll accept or they might counter abit higher and you can work out something that works for the both of you some banks of course will want a higher percentage and some lower depending on inventory and other factors...All this ratio talk is based upon the asking price being right for the market of the property because you dont want to pay 80 percent of asking while having that value above the market value if you know what i mean....your trying to get it below market value to make a some money off it 

hope that helped abit and best of luck with this property man

hey rashad 

although i see youve gotten some advice that 1 10plus unit may only 1 roof 1 manager etc....Its also important to remember tenant quality of traditional apartment are not the same, the problems that occur also in a large building are also very different such as noise complaints and among other things but if youve got experience already then go ahead with a challenge 

goodluck man