All Forum Posts by: Jacob Rzewnicki

Hey everyone!

I have my eye on a duplex in the hopes of living in one unit and renting out the other.

I found a great deal where the numbers work for me, the only problem is that both units already have tenants.

From what I see in other forum posts, I will definitely need to check out the lease agreements as I will have to abide by them too, and also screen the tenants to see who is currently living there.

My question is, when is the appropriate time to get this information? Is it legal to ask to see their lease agreement before it's under contract, does it happen after it's under contract as part of the inspection clause?

And once I have that information, what is the best course of action to ethically remove the tenants in the unit we would want to stay in. I saw a post saying once their lease is up to tell them they can go month to month at x dollars per month. I've also considered cash for keys. Is it worth just asking them to move once the lease is up first and see what happens?

Thanks in advance for any advice any one may be able to offer! I'm really hoping to get this deal done.. it would be my first 😌

@Chauncy Gray the power of compound interest, amiright?? Lol.

In all seriousness though, when you borrow any money there’s going to be a price to pay. While it seems crappy that you have to pay so much in interest, it’s a necessary evil, unless you’re balling enough to buy everything in cash. As long as the mortgage payment is factored into your numbers and you’re still able to cash flow that’s all that really matters. No matter where you leverage money from there’s going to be some form of interest, that’s why you need to make sure the deal is worth your while.

@Anthony Wick is trying to set up a meeting to sit down with them so you’re right, wouldn’t hurt to put it out there! Thanks for the input!

@Anthony Wick my initial thought is always seller financing but he said he has investors he needs to cash out so he would have to be paid up front..I wish

That thread is the exact situation im in, Thanks! 

I have another partner that wants a duplex so ill have to chop it up in to two deals. Ill definitely post the outcome!

@Tim McKelvey

Hey guys,

I came across an incredible deal with two duplexes packaged together. They are technically two separate properties. My plan was to buy one using an FHA loan until I came across this bundle deal which is incredible. If I wanted to buy both in a collective deal, would I be able to use and FHA loan and put both properties on the same mortgage? The properties are right next to each other. Or would I need two separate loans one for each property?

Thanks in advance!

@Ryan Ray

In my limited experience with Facebook ads I would say there’s a lot to take into account. The pixel is definitely a big help but only IF you do your due diligence in creating the right audience for the ads.

I would split test a couple of different audiences meaning try and switch a few different things but only a small bit at a time so you can keep track of what’s generating more traffic. (You can do this by starting out with a small budget for different ad sets like $5/ day for 3-5 days)

Once you have the best audience picked out make sure the media you’re putting out is compelling and original and split test these too. no one wants to click on your typical ‘we buy houses’ ad.

One final note would be to invest into making a good website. If someone is brought to your site but it looks unfinished an unprofessional it’s doubtful they’ll turn into a lead.

I hope I didn’t just say everything you’ve already heard! Best of luck.

Hey guys. Still looking for that first property. 

I came across a condo for a pretty good price. It's listed as for sale by owner so I was considering reaching out and trying to work out a seller financing deal. When I ran the numbers with the seller financing I had in mind, higher than likely expenses and average rent for the area it looks like it will cashflow a little less than 300(!!!) bucks. I have the numbers for HOA included in my calculation but is there something else I should be looking out for when it comes to condos?

Thanks in advance for the always awesome support!

Hey everyone,

I stumbled across a property that belongs to a family friend. My dad is helping her rehab it before the next tenants move in (she had a terrible experience with the last tenants). It’s a town home and I mentioned to my dad I might want to buy it off of her since she isn’t exactly and investor. His first instinct was that she might not want to sell since it’s her primary source of income.

Of course seller financing popped into my head, so she’s still getting paid without the hassle. I mentioned it but he noted that she might still have a mortgage on the place.

How do i go about negotiating a seller finance deal when there’s still a mortgage remaining on the property?

Thanks in advance!

@Maria Luna I love the vision. And the fact that you’re going to make it happen. The only suggestion I would have would be to househack instead of renting an airbnb. Link up with a great agent in the area and learn the market. Have them help you lock down a duplex/triplex which you could use a low down payment loan for(which will cash flow if you run the numbers right) and then using the remaining capital and your newfound market knowledge find your second property once you make the move.