All Forum Posts by: John Carpo

Did the seller not let you in on this  situation before you bought the home. I hope your journey is over but I would not be so sure

 Ever heard of a match?

I am 37.  I will buying them and racking up manageable debt. Debt is a part of business and life, for me anyways. It will eventually be paid down. By then you will likely want more than the $90k a year!!!

So a little background on me I have about 20 SFR's that I rent out now. Looking to possibly start a Mobile Home Park. Wanting to buy some used trailers and put them in, start renting them to a new influx of migrant workers coming to the area. The local rental market is very tight and I think this would be a great opportunity to build it up and get it rolling, then possibly sell it off in 5 years time..

Thoughts and advice please!!   Would like to buy 20 acres and just start the process. Would rather be out of town aways but also like the idea of city sewer and water hookups.

Max P, I still have all the properties. Just collecting rent...

Brandon, here are the numbers on the deal...

4 bed, 2 bath house.

My last offer was $8500, they countered at 10k today.

I will spend approx. $5k in electrical and plumbing getting it back in order.

Will rent for $600 a month.

Taxes are $900 a year, Insurance $131 a year. I do not supply any utilities or lawn/snow care, nor do I supply appliances besides built in dishwasher when it applies. Living area is basically move in ready aside from one bathroom could use new toilet and vanity and a little paint in a few rooms.

The home is located next to a small power substation, and is on two lots that have no further development value

Hello BP!!!

I haven't posted here for a few years, and I was unable to locate my old login info, so I started a new profile. When I was actively on here I did not post much, but spent hours, days, weeks absorbing this treasure trove of information.

I started buying and holding Single Family Homes as rentals back in 2008 and I invested heavily up until around 2011 . Then my real estate goals shifted and I kind of lost track of this site for awhile. I have been lurking here lately as my attention shifts back to buying more rental properties.

I find myself reluctant to pull the trigger on a deal I have found. Its a foreclosure that was stripped of all copper wire and pipe in the basement and sat vacant for over a year. The living area seems mostly undamaged. The price is nice and I see the opportunity but for some reason I am hesitating "getting back on the bike" Just seeking some positive reinforcement and felt what better place than this!!!