All Forum Posts by: Jamaal Rogers

Thanks for the great responses. I'll keep fishing!

It's an owner finance deal, 22 minutes from my house in a decent area.

Sales Price 75,000.00

Down payment 10,000.00

30 Yr Fully Amortized  at 7%

Mortgage-  $432.00 P&I

Tax- $90.00

Insurance- $50.00

Total monthly payments- $572.00

Rent- 850.00

Cash Flow- $278 a month

That's great advice thanks!

Good morning,

I recently became a real estate agent and I'm having a difficult time deciding where to hang my license. I'm interested in building a real estate business that includes but isn't limited to; Property Management, Buy and Hold, Wholesale, List/ Sale as an agent. Any advice would be greatly appreciated.

Thanks

Hello Bigger Pockets !!

I recently passed my Real estate sales person exam and I would like to find an active investor broker to work with. I have been investing in real estate for the past 2-3 years (buy and hold) and I decided to make this a full-time venture. I'm interested in Property management, commercial (apartments), residential and possibly more. Feel free to contact me at anytime I look forward to adding value to your company!

Good evening any and all answers would be appreciated!

I am looking into purchasing a Multi-family for 350,000.00; it will be owner financed. Right now the property taxes are around $1400.00 a year. I would like property taxes to stay at this number. If I buy at a purchase price of $350,000.00 my taxes will increase as well. I believe the county has the home assessed around 100,000.00. What can I do to keep the property taxes the same? Is there a way to record our sales price at 125,000-150,000 and still continue to pay her full asking price?

Thanks

Hello,

Happy Holidays to everyone! I need assistance finding eviction list/ information in Fulton county. I would like to market directly to these landlords in hopes of finding the "burned out landlord". Any advise would be helpful.

Thanks in advance!

Hey Ryan,

Thanks for your response! The mortgage, taxes and insurance are combined in escrow. The entire payment is about 55% to 60% of the potential rent. The area is average C to C minus; I don't anticipate much appreciation. Yes, I have the reserves to handle problems. I'm a buy and hold investor with a few properties. 

My problem is that I've never used this type of strategy (lease option, ect.) to acquire an asset before. I've always bought it with seller or bank financing. 

What is the best strategy to use (Land contract, wrap around mortgage or lease option) to hold this property long enough to pay down at least 20% and then add it to my portfolio? While protecting myself and my money.

BTW- My option purchase price will be less than 1k. My cost to control this asset should be relatively low.

This won't be a Gross lease it would be a Net lease

Thanks in advance!!