All Forum Posts by: Chris Wood

@Dustin D.  Even in A neighborhoods, you have to cash flow some to cover the longer terms expenses. This seems to be one of the biggest reasons for any business to fail, no profit=why own it?  Time is on your side, start talking to neighbors. They might be thinking of selling their house for cheap due to needing updates or………….the list goes on. Either way its a great way to talk with people and that will bring u a deal more like how he bought the house, instead of how you are trying to buy the house.  Just my 2 cents. Good luck and stay on the positive cash flow side!

^^^^ I am curious too….

@Ronald Hunt

Let me know if these don't work out.

@Lawson Ott

What is the place worth if you don't mind me asking?   Does 350 cover taxes and insurance or is that on top? 

Didn't touch on the renting part, also a great option with those numbers. But sometimes easier to build up cash for bigger deals with other options.  Depending on what your longer term goal is.

I personally love these numbers. And depending on the area, I would long term sell. But if the area is rough as you say, has a tendency to lead to challenges which take time. So personally I would either try to sell to someone who wants to work for equity. More than likely the won't be able to put the 10k down. But maybe 3-5 and recoup the rest in 2 years.  Or do the quick flip if you think you can get sold before winter.  I will be curious to know what you do, good luck.

@Daniel Feldman, Welcome to the indy market. I am on the southside. But look at deals all over indy. My cpa is on the northside and would be more than happy to send you his information. Let me know I can help with anything else.

So let me get this straight, he wants 405k, 5% down and it is only bringing in 2100 a month? If this is case. Yes u are in the negative. I ran a quick payment on numbers and the payment was more than rent and I didn't even add ins, taxes, capex…….etc. Not a good deal, unless you can get his amount down (a lot). Or you need to get the rent increased. I don't know what area this is in, but does the area call for 2100 in rent on 400k house?  

I am sure he is cash positive being that he bought it so low in price.

@Kelly Wiggs that would be great. thank u!

Yes, currently doing this and have been successful with it. Just want to make sure to lock in rates low before they go up. Great way to grow, being that rates are so low.