All Forum Posts by: Greg Morris

I plan to purchase tax lien properties, remodel and rent them out to sec-8 tenants. I would only be holding the tax lien certificate. What would l need to carry for insurance? Thanks. 

Make sure there is no mold and all is corrected. Give her notice to move out. Wait and see what happens. Her son is giving her advise, there isn't like you have a history of complaints.  Get her out asap.

Look into a USDA loan. Read about their loans online. These are the easies loans to get. Best wishes

I would not let her build a closet . Just tell her you don't want make anymore changes to the apt. 

Good advice don't even think about a mobile  home park, better yet build a 12 unit senior home apt complex. You will do very well. Best wishes.

Good advice don't even think about a mobile  home park, better yet build a 12 unit senior home apt complex. You will do very well. Best wishes.

Hopefully your working full time when you turn eighteen. Based on your income you can buy a house and finance it under a USDA loan. Check out the local area for homes that qualify. Check out USDA site for more info. You can get in a USDA home for $1000 down and the closing added to your purchase. After working on it for one year sale the house for a profit. Afterwards start looking for your next deal. Make sure you buy a home in a good neighborhood. 

These guys are giving you good advise. Don't stop your sale business. 20 k in the bank is a good start. A 4 unit apt building may sound nice but your not going to make the money you need to survive and grow, even if you live in one of the units. To make money in apts you need at least 12 units. You would be better off keeping your job buying a house under USDA and flip the house over time. Check the rules on selling your USDA house. Last l knew you could resale with no problems and no recapture.  Not sure if you have to live in it for a year. If you still want the units check with USDA and see if it qualifies. A USDA loan is like 3.5 rate 1000 down and low income. Lastly if you want to rent units in the future focus on senior housing, 12 units and you will do well.    

Beware of Craigslist. 

Brain it depend of what kind of structure, is brick, wood etc. Is the outside structure damage from water , dry rot, or whatever. How many levels are you taking about? Do your research before you buy this property. Is it in a prime location? Are you going to get top rent for the place or do you plan to sell it?  If you do decide you want it the first thing to do is hire a building inspector for a full report on the building. Before making an offer. Get back with us after the building report. Be prepared to spend (depending on size) $500-1000 for an inspection report. Once you get the report than you can make an intelligent decision.