All Forum Posts by: Cassandra Sifford

@Yoree Washington  thank you and I'll be on the lookout :)

If you've educated yourself with the process, have people that you trust to help with renovation and insight, go for it!  You can't foresee the future and there's no better time than the present!  Just imagine if you wait, 2-5 years and the crash doesn't happen or it does happen, but you have the opportunity to gain invaluable experience and passive income, but didn't.  You'd be kicking yourself in the tail for waiting.

Hi @Yoree Washington born and raised in Newark, DE and feeling really good about this site as well!!!  It's given me a wealth of knowledge to educate myself and feel comfortable enough to go out and purchase my 1st property at the end of last year in New Castle.  So many people to connect with on a variety of levels.  Well wishes to you and if you ever have any questions ASK 😊

I just read a post about a person not renewing a lease because the tenant let their animals use the bathroom in the property.  I'm not a pet person, so I don't want pets in my rental.  I've seen some pets use the bathroom where they live; chew and scratch moldings so it's a no go for me.  I don't want the hassle of irresponsible tenants and care free pets.

Hellllooooo BP fam!  I've partnered up with two other individuals to start wholesaling locally, but we never established a legal agreement.   We're working on getting our buyers list together along with locating distressed properties.  Before we get to deep into things, we need to determine who will get paid a percentage of what and when.  Me and one other partner work full time day hours.  Our situation is a bit unusual as one of my partners is blind and does not work.  He's done some cold calling, left messages, but none of the contacts have followed back up.  I've put together a Google spreadsheet so we can share this document and update it as we go along.  Unfortunately he's unable to have it read back to him.  Me and the other partner can update it, so that's not an issue.  Me and the other partner are driving for dollars to locate distressed properties, cold calling and generating / mailing the letters for direct mail and networking.  

My question is does anyone out here have an example of a partnership agreement that we can modify to suit our needs?  I feel that our blind partner shouldn't get equal profits as he is limited in what he can do.  We're going to contact an attorney to work on having something drafted, but was wondering what insight others may have.

Thank you in advance ... Cassandra

@Joel Gierbolini ... yup 30 yr!

 Thank you for the information!

@Jason D. I renovated to tenant proof it, but feel like i over did it. Hopefully the tenants will take care of it and it will last alot of years

My 1st (and only for now) investment property had a loan of $46k.  Lending was through Trident Mortgage, but was sold to Wells Fargo a few months ago.  Interest rate isn't the lowest as points were added, but my cash flow is worth it.

I would pass.  Those reserves to survive are a necessity.  You wouldn't have anything to fall back on which is too much of a risk.  Like others have said, maybe partner up with someone if the numbers work and you'd both be winning.  If it's not enough cash flow to make it worth your while, roll out on the deal and look for something more in line with your goals.