All Forum Posts by: Franklin Romine

Know you market and let the numbers or trends speak... however I've been told always buy properties with a garage. Tenants move in and pack it full... then they don't want to move....

5/2 Sfr, 107K put 20% down, financed the remainder with a bank 30yrs at 7%. $1200mo rent. Monthly cashflow is around $500.

Since then I've learned to buy two properties for the same price and get more cashflow. Why pay more....

I've been in a similar situtation.

Three college students moved into one of my properties. I had three parents and a grandma co-sign. Total of seven parties on the lease. It is difficult having parties signing the lease but not "living" in the property. Parties that co-sign seem to loose sight of the fact they are still liable for the rent and it makes it more difficult to collect the rent and who owes who what. This was a lesson learned for me. I try to keep the lease signers to a min., 1-2. Plus you save on postage. I send every party on the lease a notice when rent is late.

yes

Property State: CA
Property City: Fresno
Property Type: Single Family Home
Owner Occupied: No
Lien Position: 1st
Property Value: $77,000
Loan Amount: $50,000
Loan to Value: 65%
Other: Investment property, rented $800mo.

Interest Rate: 8%
Payment Amount: $333
Payments Made: Monthly
Term: 24

I am the property owner and also own several other properties. We are looking for capital to purchase more properties which is the reason why we are selling a 1st position of $50,000. All of our properties cashflow and we have loans with institutions.