All Forum Posts by: Gautam Venkatesan

@Rivy S. your target audience is not on the MLS. You need to use bandit signs in the neighborhood with words like rent to own, any credit ok, etc. to capture the regular drive bys in that neighborhood. Perhaps someone who frequents that area for work/school or someone who lives in the area already and knows of a friend/relative looking for this type of arrangement. You also need to think like the buyer which is what would my all-in monthly payment be instead of $X down, Y% per year. You want to target the mig-range of the affordable monthly spend (PITI + service fees) for that area. Figure out what that is and then back calculate what your price/terms. I agree with others 10% is high. Also please make sure you are using RMLO to qualify the buyers, close with a title company familiar with wraps, and use a service provider to collect PITI and pay out taxes and insurance when its due. Do not expect the buyer will pay. Good luck!

Time conquers all

Irving is a huge area with 3 or 4 different school districts so you will need to do further research. Plano is established with a mix of older and new homes. Frisco and Allen are other northern suburbs exploding with new homes and good school districts. I'm not sure you can cashflow buying a new home for $500K not sure if that is a consideration.

@Indra H. since the loan in 2 years would be 360K - 144K (I am assuming you would get a fixed mortgage for the balance only) I do not share your concern for the home appraising at 360k. Make sense?

@Roberto Gutierrez like everyone else I feel awful reading the latest update.  Hope for a speedy payout from the insurer.  I've always wondered how builders protect their product during build outs, especially once HVAC is installed, interior finishes are in progress, etc.  Can you please share your experience?

@Jay Hinrichs free and clear closer to retirement sounds like a good plan to me is that what you are referring to or free and clear to cashout refi to purchase another property or investment?

Probably depends on location. I have a small sample size for what its worth.

Rent for my C class location has not changed in 4 years (one tenant turnover + 2 lease renewals so far).

For my township school rentals rent has gone from $840 to $860 to $880 and another from $1050 to $1060 to $1080 currently (over 4 year span).

@Shiloh Lundahl if funds per investor is limited how about fractional ownership on 1st liens to eliminate the need/risk of 2nd position liens?

I would not recommend paying over market value. Also make sure your numbers include 2% property taxes for NOO properties and they cash flow from day one.