All Forum Posts by: Brandon Johnson

@Noelle Yarn

It's a 1% deal and calculating VIMTM to be 50% (Vacancy, Insurance, Maintenance, Taxes & management), it looks like a negative cash flowing deal for the long term.

What are you looking for out of the deal. Cash flow? Appreciation? There may be details you have that make this a good deal, but from a cash flow perspective... it doesn't look like one at first glance. 

@Carl DiMaria

How are you are you marketing your project and who are you marketing it to? Does it have the same risk as other RE investments. If you really do have something with a great ROI and you present it well, funding shouldn't be too hard to find.

@Eunice L.

A quick web search of "(city) + tax assessor" should bring you to a website where you can search up property by address or pin number. Pin numbers can often be found on Redfin or Zillow.

@Jim Schock A good insurance policy will also not protect your asset 100%. In podcast 109 Attorney @Scott Smith says your insurance company makes money in two ways. Collecting premiums and denying coverage. Once you're being sued all of your friends run away.

https://www.biggerpockets.com/renewsblog/2015/02/1...

You should give it a listen. He gives tons a great information about the different ways to protect your assets.

How does that 8% cap measure up to other SFR in the same area? That will tell you if it's good or not because if I could just as easily invest in a different home and get a better return I would.

It also boils down to what kind of return you're willing to accept.  Some people wont go near anything less than a 12% return, while others are okay with taking 6%.

@john buff

Sounds like a bad idea.

Renting to friends and family is already a bad idea, but with the car you're saying she also has a recent history of not paying her bills on time. Like @Jennifer A. says. It could be a quick way to lose a friend and money.

@Brandon L Brown

Figure what kind of person you want to learn from and then figure out what skills, resources and value you can add for that person. A mentor needs a reason to be a mentor.

Ben Wilkins Andrew Postell Do you guys think it would be possible for him to have the seller carry back less of the sale amount, maybe 20% of the cost, and take out a loan for the remainder. Would the lender still require a large down payment in this situation?

Great, thank you! I just got in touch with my agent. 

Hi Everyone, 

I had my agent place a bid on a HUD home on Thursday June 29th and the exclusive bidding period for the home closed the very same night. The next day the listing was gone from the website and I didn't hear anything until Wednesday the 5th when my agent told me that the seller had accepted another offer. Well yesterday the home was relisted for owner occupants with a bidding period set to expire at midnight tonight.

Do I need to place another offer to be considered, or will my last offer be kept and considered once the bidding period closes? I've texted my agent and left him a voice mail about it, but he hasn't gotten back to me yet. Please send your HUD wisdom!