All Forum Posts by: Jairo Rincon

Thanks for the response. I didn't even consider a credit card. Good to know. Did you get the credit card as a business or personal?

Good morning BP!!! So I'm about to close on my first duplex and I wanted to know how I should set up my bank accounts to avoid issues come tax season? Any advice will be greatly appreciated.  Thanks!!

@Bob Okenwa thanks for the feedback. This was along the lines of what my wife and I were thinking. We were just having a few doubts. It looks like the property may appraise for higher so our locked in price of $202K may end up being a good thing.

Hey BP. So I went against my instincts and put an offer at listing price at $199k based on realtor recommendation. The property is in a great location and has potential for forced appreciation. I received a counteroffer of the same price (199k), however, seller is asking for 51% of closing costs. Per realtor, I will put an offer for above asking price at $202k, which is the closing costs added into original offer. Any suggestions/info/advice if property is appraised below listed price???? Any help will be GREATLY appreciated!

Thank you everyone for the feedback! This definitely helps us with our decision moving forward. I will post again with an update when it is all said and done.

Hey BP my wife and I made our 1st offer on a small MFP. The seller was asking for 200K with no upgrades, but after doing our due diligence and reviewing our CMA report the property was listed above market value. We offered at market value, but was rejected with no counter offer. Any suggestions for this situation.

Thank you all for your feedback. @Lane Kawaoka I tend to move a lot due to my job. I'm expect to be moving to Nevada here in the near future so I don't want to get started in a market that I won't have much time in.

Hi Bigger Pockets family,

I wanted to get feedback from anyone who as has any experience with turn key properties. Please tell the pros and cons to help me make a more informed decision. Thank you!

My biggest mistake was my very first house. I let family rent the house out. I was 21 at the time and didn't know any better so I didn't get a property manger or establish a handwritten contract. The biggest issues I had was when it came to the monthly payment they would say, " hey I painted a room for you so I'm deducting that out of the monthly dues." These types of comments happened a few times and I lost some money.  Not wanting to cause issues I allowed it to happen, big mistake on my part. Money and blood does not mix and I would avoid renting to family or even friends if possible. If you have to rent to a family member or a friend make sure they deal with your property manger instead.

I'm interested. Please keep me updated!