All Forum Posts by: Gerald McCullough

@Julian Lyons they've already seen them 

Hey BP family,

I'm here in Jackson, MS and I've acquired contracts on 6 properties for $250k which we are marketing package deal for only $234k and they are already rented producing $61,680 yearly which at my calculation is 3.79 CCR. Most of the properties have been renovated and properly taking care of by the owner. If you had the opportunity to bite at something like this what do you think will be making this go sour?

So we got this 2/2 set of townhouses for $127k in an upcoming part of North Jackson, MS. Contract has 3 more weeks left and would like to know of some ways to find investors. What questions would you ask ? The taxes are $2846 a year, rent avg around 950-1100 per month, units are 2486 sqft so they are pretty large and could have some value add room. Secondly there are sfh selling for $399k and up in the area. Please share your opinions and experiences.

It also looks like the last owner was struggling with his taxes

So I just had what might be a good deal for someone looking for a prime opportunity with cashflow with a 4 plex 2000 sqft. 1bd/1ba on 9831 sqft lot that could use some nice value add. The asking price $75k which is far pass my savings right now but they are bringing in $425 a door as is. Taxes are $1586 so tell me would this be a good deal to add to a portfolio?

@James Gates Do you have a property manager for them? How did you structure the partnerships?

Not if they start off wholesaling. I literally started with free ads on Craigslist. Got my first deal which was 3 properties from one seller. I sold 2 of them using owner financing to another investor and made $6k. Then from that same Craigslist post I was able to get my first buy and hold thru owner financing. So really anything is possible thoughts become things.