All Forum Posts by: Gulfield Jones

Hello BP,

Haven't been here in awhile and need to ask a question. We purchased our first triplex back in 2012 and at the price we bought it for we could live in one unit and make a decent cash flow off of the other 2 units. 

Now we are looking to sell and our property has doubled up in value. The problem is that now the rents won't cover the property value mortgage payments.

We have thought of redeveloping the property to make it a single family with a guest house but don't have the funds to do so. So we are going to list it.

Any advice on how we should proceed would be greatly appreciated!!

A friend of ours used a peer lending program to get the additional money he needed, I believe he only needed 10k too . He was funded pretty quickly and paid it back with taxes this year. Just an idea, good luck!

VA loan

Well after reading a lot and trying to understand everything, we decided to just pull the trigger!

We now own a Triplex in San Diego and bought with nothing out of pocket! Thanks VA. Thanks to great advice from here on BP, we were able to get the seller to install brand new water heaters and stainless steel appliances in every unit!

We've had one renter since we purchased this property. Another moves in this month. We used the smart move trains union background check we found here on BP.

Just excited and very thankful to all the members on this site. Oh just started our LLC even though we got umbrella insurance.

Happy hunting fellow investors!