All Forum Posts by: Jim Doine

Hi Robert, another great big welcome to BP from a fellow Oregonian. :D :D Jim

Josh, I already answered this same question in the Indianapolis cash flow investment group, check it out there. :D Jim

In rough neighborhoods (even if they are not war zones) you can throw cash flow figures out the window. Very difficult to find and keep quality tenants so vacancy rates and repairs after move outs soar, especially without exceptional management which is very difficult to find.This situation can create the tired landlord anxious to sell his property. The cash flow may look good on paper but in reality its not. :roll: Jim

Alex, I am not a fan of condo's for the same reasons Brian states. The only reason to buy as you describe it would be if it were dirt cheap, and only then if you could stand the neighborhood, it might get worse :D . Jim

Justin, I'd like to talk to you about investing in Panama. My email is in my signature. :D Jim

I agree also. Jim

Mariah, don't use online resources to try and establish property values. They are unreliable and worthless. You need to have a local Realtor do a CMA on the property. You also need to inspect the interior to get an idea of the repair costs. A lot of the time these auction properties are very easy to get into. You also need a title company to do a title search to make sure it is unencumbered. Whats your exit strategy on this if you are going to tie up this much cash. :D Jim

Tony, my main concern on this property is, are you paying to much? Have you had a Realtor do a CMA? I certainly wouldn't pay more than 70% of ARV in today's market. In Jon's last post he stated it would cost you $743 mo. to live there. I don't see where the positives outweigh the negatives on this one. With a multi-family I would want to be living for free. :D Jim

Hi there Andrea, welcome to BP. You have discovered a great site to help you with your learning curve. Ask away with all your questions and I'm sure someone here will be able to answer them :D . Jim