All Forum Posts by: Brandy Morton

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Good afternoon, I would be extremely grateful for a set of experienced eyes to look over this and tell me what you think please. 

I have found what I feel to be a good deal with most of the major systems having already been replaced or will be replaced with acceptable offer. It has potential to be managed better and have the rents raised to market value. It is located in a good spot, within walking distance to the downtown even though it is in a smaller town. There is a good mix of employment there. Current residents are primarily on a fixed income (but would still be able to afford a rent increase). 

The downside is, the current tenants all have month to month leases, there are pets, a lot of maintenance has been deferred (but would be completed prior to closing) and there seems to be a high turnover rate for 3 units, however, I believe this can be attributed to poor management and the lack of long term leasing. 

I would love to hear your suggestions and feedback please. 

Thanks in advance.

@Nizar Noureddine I would definitely use the BP calculators, they are a great way to help you see if it really is a good deal or not. You also need to look at the area prices where you are purchasing. You want to know an average sale price for the type of property you are buying in that area since each area will vary. Then take into consideration rehab and maintenance and average rental rates. 

The other thing to consider is your purpose for having rentals. Are you looking for immediate cash flow or are you considering forced appreciation, tax advantages, etc. 

Finally, do not forget to take into consideration screening tenants and the management of them once you have them. 

If you share the area where you are located, I can give you some better tips and would be happy to discuss it further.

 @Terry Griffin I am doing well. Would love to network. What type of investments do you do? 

@Jason Bray I am a residential realtor and investor in Winston. I am always looking to build my network and would love to help or answer any questions you might have.

Currently in search of mountain land/property (North Carolina mountains or Sieverville TN) with at least 10 acres and large creek. Must be suitable to build or already have a house. No properties located in HOA.

I was presented with what appears to be a great deal for me, but I have never worked a deal like this one and could use some help. I have mostly dealt with REO or easy deals where the owner has more equity. This time, the landlord is tired of dealing with it and wants it gone. He owes less than market value but is willing to let it go to me for less than he owes. The problem is he does not have the difference right away. He is willing to offer seller financing but my concern is he won't ever come up with the difference. I also do not want it as a rental and plan to flip it. Suggestions? I am tired so maybe I am just over looking the simple solution....

I am considering purchasing a house in Tampa that currently has a section 8 tenant. I have called about 20 property management companies in Tampa and none of them work with section 8. Does anyone have a good suggestion? Thanks!

Price?

@James Wilcox

Bowling Green has 2 colleges and 3 hospitals which provides a very large tenant base. However I am mainly looking there as that is my home town and I have reliable people who could be automatic tenants for me and it would give me a good excuse/tax write off when I travel there ;)

@James Park

For my own personal investments, I have been previously flipping SFH. I am looking to buy and hold a 24 unit and less apartment building.

As far as working with other clients, I am able to assist with whatever their needs are with the exception of office/retail space. I do however know agents who specialize in that area.