All Forum Posts by: Cyndie Rogers

An hour north of Tampa in the town of Crystal River on approximately 2.2 acres.  Four older, but renovated and updated mobile homes with long term tenants and generating excellent cash flow. Additionally, there is a concrete block garage with office/apartment and storage, and a RV parking spot with water and electric.   Currently generating $4,000 per mo. from the mobile homes.  An additional $1,500 per month could easily be added to that by renting the garage apartment and the RV space which is currently used by the seller.   Two units have leases in place, two units are month to month (one of which has been here 15 years the other 3 years).  Seller is a retired but still licensed real estate broker.  We have moved out of the area.  Feel free to call or email with questions.  Updates include 3 new central heat and air units, 2 Electric Poles & Panels etc.    859.533.5205  or email to [email protected]   $399,000

Question-If your taxable income for married filing jointly is less than the $83,350 threshold does that put you into the zero percent tax bracket for capital gains?  So if your gain on the sale of a property is $100,000, do you pay zero percent or 15% or some other calculation?

It seems like it should be easy to understand but, of course, it depends on your perspective.  Thanks for any feedback. 

I asked the same question recently... Fulton Sanchez, whom you can find as a member on here, replied and was extremely knowledgeable regarding real estate investments.  You can start there and have a conversation to see if he fits your needs.

The was an excellent podcast with Brandon and Pace Morby who uses and explains the Sub To process.   Very informative and easy to find on YouTube. I would suggest starting there.

I have a multifamily property and sold earlier this year a property in which I have capital gains.   I am in need of a professional with expertise in real estate.  The more I learn...the more I realize how much I don't know.

You may be surprised that the down payment may not be smaller because it's a mobile home.  It depends on the age and location of the unit as to what sort of financing if any you can find.  I have a property that I bought with four mobile home units 5 and a half years ago.  The rents were below what I knew they should be and I saw potential in some basic cosmetic things.  It has been a lot of work bringing it up to my standards (which for me is if I wouldn't stay in it then it needs upgrading) but well worth the effort. I used seller financing for this project with a 3 year balloon which required a hard money lender at that time.  If you are still reading at this point...this is where it gets good.  The net income is so good that the cap rate makes other investments seem like...well why would you even bother.  So in conclusion, if you are looking at new units they will be easy to finance.  If you are looking at older units you will need seller financing or a very large down payment and a hard money lender.

I'm interested in selling my quadraplex and not sure how to reach buyers who are looking for multi-family properties.  Feel free to comment and send suggestions.   And yes, I have been a real estate broker but I have been away for a while since I have my rentals and now would like to sell one of the two properties as we are getting older.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $65,000
Cash invested: $50,000

A quadruplex with great income potential but in need of updating and renovations. We have completed one unit and currently have two others under construction. The roof was replaced in 2015 so we are focusing on the plumbing and electrical and we plan to do all the windows within the next few months. We have also replaced two of the four heat/air conditioner units. Complete renovations inside with some decorative upgrades should attract good quality tenants for the long term.

What made you interested in investing in this type of deal?

The property was available through a family member who did not keep up with many maintenance issues. Although an extensive rehab was in order the equity was there to allow us to refinance upon completion providing an excellent cash flow.

How did you find this deal and how did you negotiate it?

I purchased this from a family member who no longer wanted to manage it.

How did you finance this deal?

We used a hard money broker that we had used previously to secure a purchase loan with a low payment albeit higher than I would like interest rate for a few years providing ample time to refinance.

How did you add value to the deal?

We added value by doing a renovation of the entire building and updating the basics so that there would not be many issues in the near future.

What was the outcome?

Still in progress but have one unit rented at a substantial increase from the

previous tenant.

What seems like a problem is most likely a blessing even if in the moment it doesn't seem so.  I had a balloon payment last December that I just couldn't get refinanced. I asked my uncle for help, he wouldn't.  Then I came across someone who knew hard money lenders.  I not only refinanced but bought another investment and it has opened the doors to a great future.

I have heard good and bad things about Section 8.  Does anyone out there have any up to date information based on personal experience with this program?   I know they have had defunding issues in the past and with the current administration making a lot of changes I was wondering if it is still a valid option.