All Forum Posts by: Dannie Barlow

Just wanted to share a link to a house that I just completed. I did a lot of the work myself on evenings and weekends. This was my first flip. Im into it for $82,000 but that's not counting my realtor fees or closing cost. I'll try to find the before pics that I have to share. Please let me know your thoughts on the house and the looks. It took exactly 3 months to remodel. Hers the link.

http://www.zillow.com/homedetails/110-Bellegrove-Blvd-Brandon-MS-39047/50836841_zpid/

I have a rental house and the rent is due on the 5th of the month. I give a 5 day grace period after the 5th. Say that they pay on the 13 of the month. Do you charge your daily rate for them being late or do you let it slip. One of my houses in consistent on being late by a few days. Just curious on how everybody handles this. I understand that people have problems that come up. Thanks in advance for your input.

thanks everybody for the input. Yes it does have some minor maintenance issues.  Limbs on the house, gutters cleaned, just normal small things. I'm using these as buy and holds for awhile. I'm not really using them to have any extra cash flow right now, just want to have them for investments for my future. 

wanted to get everybodys thoughts on a deal that I just completed. I bought 2 sfh right across from each other in a b neighborhood. Both appraised for around 95,000, I got both for 60,000 each. The loan is together on them which comes out to 815 a month for both. They both have been rented to the same tenants for 5 years, both are good tenants and are staying. Each house rents for 950 a month so I receive 1900 total a month. Please let me know your thoughts. Thanks for the help.

I'm buying two properties that has no lease agreement signed.  Both tenants have been living there for several years. Is there anything I need to do before they sign a lease with me?

I have walked each property very good, and also have had home inspections done. The repairs I'm talking about are gutters filled with leaves, trees growing against house. Interiors are ok and not needing major repairs

Hello everyone. Ive been looking on the site for awhile and have learned a lot just from reading other post. I wanted to post a deal that I am working on and want to make sure its a good of a deal as it looks to me.

Its 3 single family homes. All on the same street in a nice subdivision. Previous owner didn't keep maintenance up to what it should be, but they are not falling apart either. 2 homes are rented out with long term tenants of more then 4 years and 1 is empty.  2 houses appraised for 96 thousand each and the other for 86 thousand. Im getting 2 for 60 thousand and one for 55. They all need minor tlc, nothing major.

My bank approved me for the loan amount. My monthly note for all three together will be $1100.

They all rent for $1000.00 each

After figuring up ins, taxes, vacancy, maintenance, and trying to shoot above cost for everything I believe this is a fair deal. I have a current job and will be trying to invest most profit back into the business. I trying to build long term investments that will really start showing up for me in 15 years or so. Im 28 now. Thanks for any advice or thoughts on this. taxes are about 1400 annual on each house. No hoa fees. The third one could be rented out, but I asked him to let me fill it with a tenant so I could do some minor repairs in the house (new carpet, fix some cracked tile, minor stuff he overlooks).