All Forum Posts by: CJ M.

@Jamal Jacobs

- Conventional loan

- Hard money/Private money loan

- Use HELOC funds from another property

- Portfolio loan

- Seller Financing

@Mary Jay

It's not as simple as a house costs $X and that equates to me wanting $X in cashflow.

I also look at how much time, money and stress it'll take me to get it rent ready/cashflowing? Is it in a neighborhood that will experience quick appreciation? What are average rents in the area? Can I gain significant equity in the property by forcing appreciation through rehab...or just simply buying it at a low price?

That being said, if you want some very "general" numbers, I would say I don't get excited for anything under a 30% CoC return (I shoot for 100%+ after refi). Cash flow can range from $200-$800+ depending if I refi or not...meaning higher end of cashflow if I don't refi, and lower end if I pull as much $ out of the equity as possible.

Hope this helps.

@Mary Jay

Depends on things like:

1. How much of my time will it take before I cashflow

2. CoC %

3. Cash flow

4. Neighborhood

5. Bank terms (but that's really just a component of #2 and #3)

6. How much equity I'll have in property

7. Etc., etc.

@Mary Jay

Who really cares what the interest rates are for buy and holds. Run your numbers on a deal if it meets your criteria jump on it. I have very good cash flowing properties that have rates well above 6%. Heck I'd take 20% interest if the cash flow and deal was right. People get so caught up in the rates when there are so many other components that make for a great deal.

@Alicia Marks

Within a couple months of learning about REI. I just finished RDPD and Millionaire Real Estate Investor and got laid off after relocating and buying a new condo. I was so afraid of being broke and that happening again. That fear forced me to take the leap. So glad I did!! Nearly 40 deals in 4 years now

@Matthew Paul

Thanks everyone. I like the idea of deducting from SD...so long as the place isnt complety trashed when he moves out down the road. Let me see what happens after next week. The mother is the cosigner and does not want an eviction filed under her name so said she would pay it (I'm not holding my breath however). If they don't pay by end of next week, I will post a notice

@Wayne Brooks

Can I contact someone at the city and ask them? If so, who would it be? Even my attorney was not 100% sure about the lien.

@Kevin Sobilo

Not sure about this. I know lawn company that successfully had a lien on a property for non payment. It was an owner-occupied property however.

Have a lawn care company saying my tenant owes him $205 and won't pay. Because of that, he's threatening to put a lien on my property unless I pay him. I'm of course trying to get the tenant to pay as my lease says he is responsible for the lawn.

2 questions...

1. Can he put a lien on my property?

2. If he can, should I just pay him, then post a 3 day eviction notice?

Never had this issue come up before 🤷‍♂️

@Tad Fallows

I appreciate. I will check it out.