All Forum Posts by: David Bridgewater

 Thanks William! Better late than never. Im just seeing this post. 

Yikes! All of this dialogue stemmed from a young lady failing to read the No Refund Policy on a downloaded course. This was 2 years ago, I hope she was able to write it off on her taxes by now.  WAIT! I shouldn't have said that, because someone is going to tell me I have to be a CPA to speak about such things.    

@Randy H I think your information is great, and it is definitely worth learning as an investor.  It puzzles me how lawyers and others think one has to be a lawyer to understand this stuff.  Im not a plumber, electrician, or carpenter, but being in real estate for many years has provided me with the opportunity to learn these trades and in turn save money on my investment projects.  What you don't know will cost you! 

Great Event Guys!!! You All Did An Excellent Job!!!  

I Will Definitely Be Attending Next Year!!! 

Thanks Wayne. I agree, the terms are confusing, they were referred to me as either points and credts. 

Thank you for sharing that article; I was checking it out earlier and wasn't sure if it was a legit source or not.

With that being said, is the prorated taxes that are typically paid by the seller considered a portion of those 6 credits, or is the sellers tax credit separate from the allowable 6 credits?

This is my last question. :)  

Im speaking more on the cash flow side of things once all expenses are paid.

I heard a few different rules of thumbs in regards to 3 and 4 units, but i can't find my notes.

It seem like I remember taking a course and someone mentioning 800-1200 is pretty good.

the property is a really nice brick building in a decent area; built in 2002; attached garage parking for all units.

Nevertheless, i am purchasing the 3 unit for 136k

I feel that I can rent each unit for 900

The taxes just went up 35% to 7600 which cut into my profits. (It sits on 2 lots;hence the ridiculous taxes)

total debt service is about 1500/month

it seem to work out even with the increased taxes, but I wanted another set of eyes on the deal. 

The property actually sits on 2 lots, hence to ridiculous taxes. 

Although its a pretty decent area, the appreciation appears to be minimal. Thanks for the feedback. 

Sounds like a steal depending on what the seller terms are and how soon you can being making a profit .

You will gross 19,200 a year minus the debt service. Im sure the seller is looking for a nice down payment. 

I would definitely consider an inspection and maybe you can find some more barganing points. 

Im speaking more on the cash flow side of things once all expenses are paid.

I heard a few different rules of thumbs in regards to 3 and 4 units, but i can't find my notes. 

It seem like I remember taking a course and someone mentioning 800-1200 is pretty good.

the property is a really nice brick building in a decent area; built in 2002; attached garage parking for all units.

Nevertheless, i am purchasing the 3 unit for 136k  

I feel that I can rent each unit for 900 

The taxes just went up 35% to 7600 which cut into my profits.

total debt service is about 1500/month 

it seem to work out even with the increased taxes, but I wanted another set of eyes on the deal.