All Forum Posts by: Erika Geoffrey

Thanks for your input! Here in Canada we have nice properties that essentially just break even. Appreciation has been great, but we won’t see any benefit until we sell. So we are hoping to find cash flow to balance. 

I like your views. 

Hi all,

I've been finding really good deals for cash flow in some of the smaller towns. However I'm a bit nervous about purchasing in a town where there's not much going on.

We are foreign investors, strictly purchasing for cash flow - however there's always that lingering thought of non paying tenants, etc. etc. 

Does anyone purchase strictly for cash flow? Knowing that the property itself likely won't appreciate much or at all over time?

Thanks for your input! 
I am definitely not going the foreclosure route, I’m not at a stage to tackle Reno’s as a foreign investor. 
more just curious to the process and why I never hear of investors buying these. 

Your explanation really answered that question, thanks!

Ahhh interesting. I was wondering because the low prices seem like it would be an investors dream but I don’t hear of anyone buying them!

ahhaha that’s a real thing so I’ll accept it 🤣

Hi all,

Does anyone purchase foreclosures? What is the process? I'm from Canada where we don't really have foreclosures so I'm curious what the process is.
Do investors typically stay away from these?

Hi all,

I'm new here - actually a Canadian investor starting to venture into the US. 
I'm hoping to find a good accountant in the New York area who's familiar with real estate taxes and foreign investors.

Any recommendations?

Thanks for your input! 
That’s where my mind is as well. This would likely be a property solely purchased for cash flow and likely wouldn’t gain much equity / wouldn’t even bank on resale at all. 

Thanks for your input!
We are working with a realtor - however we are actually from Canada, so it's hard to tell who's trust worthy and looking out for your best interest vs. who's just trying to sell you anything to make money. When I asked how long tenants have been there, the response was "well I think two of them are still on leases and the other two are longer term"

I tried to ask for updated lease agreements, proof of payment, etc. but apparently that's not really something they ask for in the states.

I'm also curious why the sellers are so motivated if the cash flow is so good, you'd think they'd just sit and wait until it sells for the right price. Who knows

Hi all,

I'm hoping for some advice on a deal I found.
Purchase price is 140,000 for a four flex with monthly rental income at 3545. So CoC and ROI is pretty great (about 1100 a month after vacancies, maintenance, etc.) Apparently the sellers are motivated so I could probably get it under asking as well.

The only downfall is it's in a small town of 6,000 people. So in my opinion might cause a headache trying to find new tenants. Doesn't seem like there's much population growth. Average vacancy rate that I found is about 6.7 - 8.3 which is a lot higher than I'd typically go for. But again, return looks great, IF it can be rented steadily.
It does have about 2 dozen colleges/universities within a short drive. Top jobs are Health care, casino, education, grocery, manufacturing.

Would you purchase this deal?