All Forum Posts by: Devin Cook

Hello BP! Quick question, if I buy a duplex for $40,000 and put down $10,000 what will my cash out refinance be or if I choose to do a HELOC. Duplex appraised at $72,000. Thank you for all who reply..

I never thought about that thanks. How would you go about seller financing this deal, she is 70 years old. This property would be a flip btw

Hey BP, so I've come across a property that was a pocket listing with an agent in town and did a little digging and found out the owner has 3 other properties that she's going to be selling. She's 70 years old and her husband passed and now she's waiting to get the properties transferred to her name so she can sell them and move to a different state with her sister and take care of her. I skip traced her and spoke with her and she's open to talking with me, I have and told her I was interested taking the property/properties off her hands and making it easy and fast as possible so she can wash her hands and move and take care of her sister. She has only contacted an agent for one of the 3 properties. My question is, what would be the best route to go for making a deal with her for the property that I want without her taking it to auction or getting another agent involved. I'm getting the feeling she just wants to dump them and move on. Thanks for anyone who replys.

so your saying it would constantly be something with the property that would prevent it from cashflowing even at the cheap price and high return? 

hey BP, I wanted to get your take on a property I'm looking at tomorrow. It's a duplex in a not so good part of town but from my understanding of the owner it's been fully occupied for the last 3 years and each side is bringing in $190 a week. When asking why she's was selling it she said that some personal things came up (so I take it she's hurting for money) the property was listed at $60,000 then has been reduced to $48,000. When talking with her agent, she mentioned it has failed 2 previous inspections from other buyers and they didn't pass on the information of why, she's even tried to buy a copy of them. It's under contract and I'm going to walk with the owner and an inspector tomorrow. Is there anything else I should be concerned about? 

Hello, I just thought I'd ask this question and see if there was any way I could go about this. I currently rent a 3 bed house for $1,200. The rent went up this year, it was previously $1,050. It's my girlfriend and I currently but I had a roommate and he moved out in February. My question is should I let him know so maybe he could bring it back down a little bit since there isn't as much income coming in or should I not. It's a small town so there is not much competition and I have a pretty good relationship with the guy, I've helped him out throughout the year with projects that he has needed help with, just to give a little insight. Thanks again for whoever replies.