All Forum Posts by: Dutch Smythe

Terrific- thanks

So, it is a commerical property. It has 4 units but currently two businesses: one used 3 spaces- the other the remaining.

$1917 rent from tenant 1

$800 rent from tenant 2 who pays all water. (Long term tenant whose rent has mot increased in 15 years)

Insurance and tax currently paid by owner.

Needs a 30k new roof.

Maint: $1600 annual

365k for sales price

Tax on that price would be $8600 annually

Insurance $3400 annually

Question: Should I evaluate this deal from how I would structure rents and payments? I see not profit from the current set up of rents and the other arrangement of tax and insurance. 

What am I missing here?

Hello

I am not advertising. I am asking a question. My last post was misinterpreted and deleted. I am not currently involved with my local REI group. Does anyone know how locate wholesalers in WPB?

Happy Holidays

Thank you

hey man - i passed on that area- it is too risky for me- just like the riviera besch area

where are the private money lenders in West Palm Beach?  I am SoFla resident

okay- thanks- the 500$/month loser is on the market. I understand the idea plan out a strategy- thank you

Hello;

WE have 4 properties. One in Jacksonville is a 500$/month loss- currently for sale. The other 3 in South Florida combine for 1200$ a month.  Property1 we owe 40K- section 8 tenant.  Property2 we owe 80K- a duplex clears 500$/month. Property3 we owe 70k -200$/month. We have 25K line of credit out along with a 13k business line 7K credit card 35K 401K repay over 5 years at 900 a month and 25K 401 repay at 500$month. We are considering selling property 1- a 3/1 sfh for 145K.  Is this the best strategy to sell a property and cancel the debt?

Hello;

WE have 4 properties. One in Jacksonville is a 500$/month loss- currently for sale. The other 3 in South Florida combine for 1200$ a month.  Property1 we owe 40K- section 8 tenant.  Property2 we owe 80K- a duplex clears 500$/month. Property3 we owe 70k -200$/month. We have 25K line of credit out along with a 13k business line 7K credit card 35K 401K repay over 5 years at 900 a month and 25K 401 repay at 500$month. We are considering selling property 1- a 3/1 sfh for 145K.  Is this the best strategy to sell a property and cancel the debt?

Okay, so it's a no? What about if I bundle 4 investments into a "commercial" loan? and include this one?

I have an investment property with a 15yr mortgage. I am $400 a month loss. Now the value is 155k and I owe 153k. I want to refi this, to lower the payment and hold on to this? Will it be posible to refi this property?

Thanks

Dutch