All Forum Posts by: Jim Doine

Dave, If you plan on holding the property for 30 years you will have expenses of at least 50% of the gross rents, you really do need to study the landlord forums to help you understand all of the expenses involved with long term investing. There are many investors who have lost their properties to foreclosure because they underestimated the cost to hold these properties long term. If you truly feel that if PITI is covered by the rent it makes a good investment you better have a very good day job or very deep pockets. Jim

Dave, If your not investing for profit, why are you investing at all? Jim

Dave, you may be in an area where it is very difficult to find cash flow properties,begin to look outside your immediate area and see if you can do better. Join your local REI club, network with successful investors. The best deals will not be found on the MLS. Jim

Dave,No price drop in a year means an unmotivated seller, its obviously overpriced. You would have to purchase for around 90K to cash flow properly.Move on. :cry: Jim

Good luck Heather. Jim :D

Heather, 56.2% of FMV is great!! Jim

Heather, If your absolutely sure about your projected rent and your comfortable with your other figures the deal looks OK at 48K, as a cash flow property. Have you done a comparative market analysis, is the property at 70% of FMV or less?Only you can decide to pull the trigger,it looks to me like you have a potential deal. Jim

If you have a rich relative that would loan you 650K @ 1% 30 year fixed this could work. Jim

Leesa, just curious, how much would you offer for this? Jim