All Forum Posts by: Edwin Fisher

@Carolyn Morales LOL I never maried so... yes??? 

@Mike Arias, @David Huynh,@James DeRoest,@Account Closed

Thank you guys for all your advice, there is too much info to answer all your quesitons individually. You make some excellent points and have given me lots of things to think about! I have self manage two properties in this class at the moment. However as I still have a job my thought was to place this with a PM I know who does lots of work in this class. However I would still be a active owner and visit one time per week. I live 35 minutes from this property. Six units are on one lot a dead end loop the 7th is on the street next street over. Thanks Again for all the help and warnings, avoiding a deal you should not do is  as important finding the one you should!

Your city land development office can answer most of these questions many lots in the city limits will not allow mobile homes. If the street dose not already have mobile homes on it is likely not allowed (although still worth checking), Bigger lots out in the country on septic are much more likely not have restrictions against mobile homes. Don't get me wrong if a mobile home is allowed and you have both city water and sewer, as well as a reasonable flat lot. As both @Mark Brogan and @Rich Ferradino suggested take a down payment for what you have in it. If you owner finance the rest you created no cost and hassle free steam of cash flow for the term of the loan. Now that is sweet!

@Jason Dillard Getting the seller onboard my be dificult due to having a real-estate agent involved. I would have to pay his commission and  then maybe i would work out something with the seller but the commission is 10% so then giving the seller a down payment on top of paying sales commotion will not be cheap it is a great idea to try though. The agent is not motivated to lower his cut because he thinks he can sell it for more on loop net, then my 175k offer.

Can I run a deal past you guys?  The deal is for 7 duplexes 14 doors all 2bd/1ba about 675 square feet each for $175k Total in Rossville GA. They have a tone of deferred Mantinance 11k per door, but thats to be expected at 12k per per door. This is class c-d property in a area of c property. You would need to put 150k into rehab updates but In the end you would have a income 550 per door or 7700 gross rents. right now it has 3 units filled at 400 each for a total cash flow of $1200. Thanks for helping me decide if its a deal and sharing your knowledge!  

talk to your land development or city zoning permits office make sure you are able to place a trailer/build a house. if it has restrictions of any kind they will not give out permits. Also find out if this is on city water and sewer system. Drive around and find anyone building in the area, stop and ask if they need more building lots and how much they would give for one describe your lot dont give address if it still seems like a good deal and builders will pay more then you can buy buy it for then go for it! If it is a lot where trailers are permissible you could run a test Craig's list add check the demand over one week. Wish you great luck with your lot.

Hi Christy I would be Intersted in meeting mr March, what is he currently working on? Is he a general contractor, what is his flipping experience? Send me a PM Edwin

welcome, to BP, I am a hold investor in Chattanooga, I'm also working to do more wholesaling, pm me to let me know what your looking for.

welcome to BP