All Forum Posts by: Josh C.

I am not in your area so maybe that's a great area with lots of appreciate potential, but around me in a blue collar low crime neighborhood (which is what that sounds like based in your rents) that property would cost around $100k. The tenants at that price point can be challenging. Not worth 10% cash on cash IMO. Additionally if you can pay cash for that property as you mentioned, you could buy down a run down place and fix and rent it and then surely be in less than $170k. Plus have less maintenance for several years. Just some good for thought. Good luck!

If they are 75k per door and rent is almost $750 a month you are at the 1 % rule. Which means it passes the smell test, so you can start digging in all the expenses. There are lots of posts that go over what they are.

Quick claim deed. 5 properties. Resi and commercial loans and I personally haven't had an issue. When's next reia? I have been missing them.

You could just get an FHA or low owner occ loan and then make double payments. All extra payment goes straight to principle giving you the equity you need. If you pay the 15 year amount on a 30 year mortgage it pays off in 15. If you have the discipline to make extra payments it would be better than getting a special product if one even exists in my opinion. Good luck.

I think you posted in wrong section. Anyway, why not just sell it for 1.7 instead of offering this great deal?

Duplexes are valued off comps. Do that. Don't go off income. Good luck. I will say he'll probably laugh at 70% ARV as it's fully rented.

@Clay Manship mine is one that's been under an exterior renovation for the past 3 months. It's the "fresh paint" dark blue at 21st and penn. Also 5 house down duplex brown brick. It nice being so close to Shoefly. :). 

Oh. Also, that's 1200 per side so $2400 total. Multi-family is great in 2% rule, but it never fails I am running around fixing stuff somewhere every month.

Clay Manship Herron Morton is great if you can afford it. I have 2 in that neighborhood. Both of mine in the 2100 block of penn. Where are you at? Not many quads here.

Rodney Kuhl No problems thus far. $950 per side I get less phone calls then the $500 certainly, but the phone still rings. Once I finish my current rehab I'll be asking $1200 per aide so we'll see how that goes.