All Forum Posts by: Eddie Werner

Make your offer contingent on the property being vacant.  If the current owner has conditions in the lease where they can give set notice for them to leave this will save you a lot of money and hassle.

Regardless if you rent or buy you still pay a mortgage.....just not your mortgage.  I would get the triplex ASAP so you have no mortgage/rent/living expense.  Then save up and wipe out your debt.  Once you are debt free just keep saving money like crazy to buy more multi families.

Forget the MBA it is a waste of time and money.  Too much higher education can be a very BAD thing for the debt it will stick you with and the time it will take to pay it off.  If you are disciplined you could probably "retire" by 35 or 40 and travel all you want not having to worry about money because you acquired enough properties early on to facilitate this life style.  Live like no one else now so you can live like no one else later.......I forget who said this lol.

The easiest way is to save cash flow for the next purchase but if your not cash flowing....I guess reduce your expenses or get another job to save what you need.  There is nothing wrong with charging market rent.  If you are priced below what the market will pay you need to raise it.

I would split all utilities as a first and only measure to solve this.  From the weather extremes you experience you will recoup the cost of splitting everything within 1-2 years.  If they don't pay for it expect HIGH bills.

It depends on what your lease says.  I would hope there is a clause saying you give 24-48 hour notice then have the right to enter with or without them present for maintenance/safety inspections.  If you mention quarterly inspections in your lease its even easier.

The issues you find need to be compared to the move in check list.  If there is damage not noted on the move in documentation that is not under the normal wear and tear category then you would be able to take it out of the security deposit.  Documentation and lease wording is key for doing this properly.

@Jeremy T.

Nevermind I found the legend,

@Jeremy T.

Thanks.  I have seen this.  Any idea what the purple areas mean?  It just names the area when you click on it but no real description or data?? 

I see a lot of wholesalers have properties listed in Clairton so I am trying to learn more about the area.  Does anyone own properties there?  Prices seem low and crime maps give stats on whole town and does not show on what streets (areas) crimes are occurring.  I am trying to figure out if certain areas are where a majority of the crimes occur and if other areas may be better for investments.

Once you analyze a property your offer just needs to reflect what you need to get out of a deal.  I would not say there is such a things as offering too low.  Your agent will probably get annoyed or you just won't hear back from the seller.

Someone looking for a primary residence is most likely always going to pay more then a investor looking to make a profit.  Emotional decisions vs. financial decisions equal different offer prices.

After I view a property I make an offer.  The offer is always contingent on the inspection.  I never go off of list price but run the numbers for cash flow purposes, confirm all numbers provided and make an offer based on these numbers and what I need to get in monthly cash flow.