All Forum Posts by: Iris L.

 Thanks a lot for the advice. I think I need to get more information from the seller, and why the property management company allows them not paying  for so long

I mean the current landlord is losing money right now. the rent  received after all the repair and management commission and lawn care was 20K last year.

how long is the eviction process? I heard some are month to month and some are lease. They used to all be 1 year lease. I saw the record for 2014, and 2015. net profits 24K in 2014, 20K in 2015. I think if i manage myself this can produce better cash flow but my husband is scared right now

Hi 

I am a new investor looking to get some multifamily properties for long term rental. I have two sfh rentals. I need honest opinion if I should buy this property or stay away. I am going to manage the properties myself

there are this 5 duplex packages in a B- area. working class, all 4 duplexes are on the same street, another one is close by. all units are 2 bd\2ba, 1000 sqft, built in 1984. All occupied now. rent is from 575-650. owner asks for 525K total for 5 properties. i got the rent history sheet from property management company. the problem is 4 of them owe rent. some owe550, some owe 1500 already. The rent is NOTreceived consistently.

also, I saw a lot of expenses, like $275/month for all the yard work. ready for tenants last year costs $2163. I haven't talked to the property management company yet. If I buy these properties, is eviction the only choice?

 there is another same duplex for sale on the same street for 125K. rent for 650 and 750 for each unit.

My question is for new investors who don't have experience dealing with eviction, should i even consider this? is this too much work too risky?  should I just get a quads or triplex to train myself first? quads at nicer area selling for 300+ here with rent for 2500. 

any advice is welcome.

thanks. but it's not worth it to waste my 5 conventional loan quota only for 100k property.  i think ideally i should buy 250k-300k quads using conventional loans.

5 duplex package for 500k. the seller will only sell them together. i don't want to get commercial loan. besides private money is there any other way to finance this? i have 100k cash and can qualify conventional loans for 500k.

 I am going to rent it  out. the rent in the area is around 1600-1800. i would also consider lease option.

Hi i am analyzing a 4 bedroom, 3 bathrooms 2733 sqft sfh in a working class neighborhood, 15 minutes to work, and shopping mall, downtown. estimate rent in the area is 1600-1700. built in 2011

The rehabber did a good job  to make it move in condition. but the problem is the location, the house is on a corner lot, cross street is a church. the street is not a main road, but still busy.

can someone suggest a price i should offer, there is a 3bd, 3ba, 2408sqft sfh sold for 225K sold at the next door last month. the house is in a rehabber's hand, she needs cash close in 7 days because last offer fell through. she originally listed as 246,900, now she is asking for 216,800. i am thinking of offer her around 190K.

this is my first post on biggerpockets. I  have two duplexes I would like to get some advice on.

first duplex is in a working class neighborhood,close to downtown. $174,900, 2800 sqft built in 2007. new paint, new cabinets,new windows. two units both are 3 bedrooms, 2 bathrooms. both are rented, total rent is $1845. PITI is 872/month assuming 30 year fixed mortgage. property is on market more than 130 days.

2nd duplex is in the same city, working class area, built in 1986, asking for $125,000, 1900 sqft, both units are 2 beds, 2 baths. owner moved to florida. the property is on market for 400 days. the median rent in the area is $770 for 2 bedrooms. PITI is $700.

I would love to get some opinions on these two properties. thanks