All Forum Posts by: Jacob Butler

the mortgage includes tax and insurance, and only paid utility is about 60. i used the calculator but it is foggy still because it doesnt take into account the owner occupied aspect

I am about to invest in my first deal and would like feedback before i do, the numbers are as follows;

Cost 215,000 est value 230,000 money down 11,000 (va loan)

30 year mtg at 1300 a month it is a quadplex and i will live in one of the units while im in college, the other three rent out at 575 625 and 550, bringing the total to 1750, so it makes about 450 monthly cashflow before repairs and maintenance. im curious what people think of the deal, keeping in mind i will be occupying one of the units it seemed like a great deal to me, to have positive cashflow instead of a mortgage payment, and since im just a budding investor its a good step in the right direction, any thoughts?

Which is more important for an investment in your opinion in regards to buy and hold, getting a deal with a lot of cashflow or getting a deal under market value for a lot of instant equity? for example a deal has come up with a lot of potential cashflow about 900 a month after mortgage (less after repairs ect) but the owner is asking far above what i think the property is worth (it was appraised a few years back at 161000 and hes asking 229000) I think i can get it for 170-180. I'm curious as to what people think about this scenario and this topic in general.

this all originated because my real estate agent sent the wrong bid and by the time we redacted they didn't want to go for my offer, so now I'm having my wife make an offer through another agent, she has a different last name so that's where the thought came in, I wouldn't do it simply because there's not much gain to have in my eyes. But I enjoy talking about potential tactics and the such, thanks to everyone for there input.

Thanks as I said, it's a passing thought I'm pretty sure I wouldn't do it, just touching base to see how people felt about it. Ive heard of it being done using llcs but that's more commercial scale, Its a lot of work for as stated probably wouldnt do much help. Thanks for the input!

I had an idea the other day, and I was just trying to touch base to see how other people feel about it, basically it entails, having a friend or partner low ball a property harshly that way when you give your offer (which is still a bit low) it seems like a diamond in the rough, any thoughts? I know it's legal, but I'm not sure how ethical or even if that really matters long term, more interested in how other people feel about it. Also I haven't done this, it's more of a passing thought

Typically you can't buy a new manufactured house much below market value so I'm confused how you were planning on flipping? Otherwise it should just be standard fare as with any house.

Is there any literature on transferring tenants between landlords? I'm negotiating on a property currently and one of the units has an active tenant, and I'm wondering about how to transfer the money that is staying with the property ie: the security deposit, last month rent, pet deposit etc.

haggling. thats going to bother me. consequently if anyone knows how to alter titles that'd also be appreciated

Does anyone know a rule of thumb for a percentage of a price to ask less then what the listing price is? For example asking to pay 90k when they're asking 100k (so 10% less) Just wondering so I don't underbid and rub the seller the wrong way (but also don't want to offer to pay too much and lose out on the bottom line)