All Forum Posts by: Dom Lombardo

Also, I meant -$200 for the year not monthly.

Hello BP, I am a novice investor and was intrigued by the idea of becoming a landlord. I see that you could make good money in this particular field but I had one obstacle that I simply don't understand. For example lets say you buy a single family house and the mortgage is $600/month and you rent it out for $1000/ month. So now you'll say wow $400/month positive cash flow!!! But the only thing now is that you have to pay for property taxes. Lets say in the area for your house, the property taxes are $5,000 a year. That now leaves you with a -200/month cash flow. I simply just don't understand how one can make money on a property when property taxes are more than your rental income profit. If anyone could please help, I would like some advice or guidance on how abouts to fix this problem. Thanks

Hi @Michael Modesto 

I am looking for a way to get the deal funded because I'd like to purchase the property. Or if you know someone that would be interested I could just wholesale it to you.

Hey everyone. I have this Fourplex that I visited this past Saturday. It's a beautiful house and it generates $62K net income a year. Tenants pay all utilities. I would like to make this my first rental property. But the problem is that I need help with some ways to fund or finance the property. If anyone has any suggestions please reply asap. Thank you

Hey everyone, I got a call in my local area and we spoke on the phone. He has a 2bd 1ba. He owes $80K on the mortgage. And he is looking for around $100K for the property. I couldn't find any good comps for properties like his. How would you guys go about this type of situation?

Hey everyone, I got a call for a house that this guy was looking to sell. It's not in a great area. But the problem is, is that when I did the comps on it I got 5 different comps of 30K, 47K, 50K, 74K, and 127K. It's only 2bd 1ba 768 sq.ft. I don't know what I should make the ARV to be. Someone please help!!!!!

Hey everyone,I have a question. Let's say one person calls and we agree to a deal. I go to my attorney and we close it. Deal done. Let's say I made $10K on that deal. Now what do I do with that money? Can I just put it in the bank? And also would I have to start an LLC if I were looking to make my own wholesaling business?

Hello everyone, I am new to wholesaling and am located in Hudson Valley, NY. The problem is I do not know where I can get purchase and assignment contracts. If anybody could help me find how to get these would be great. Thanks

Hello everyone, I am a new user to bigger pockets. I am very eager to getting the deals flowing but I have one problem. I had gotten a call today from a guy who saw my ad on Craigslist for buying houses. I have pre-screened questions to ask him when I contact him back but I don't know what to do next when I go to meet with him? Should I bring a contractor with me because I don't know how to estimate repair costs. Please everyone I need your help and feedback. Thanks