All Forum Posts by: James Cress

@Kevin Sobilo it was a private sale in kentucky.

I recently purchased a property that was sold in an as is condition. After closing i learned there was a major irrigation issue causing the duplex to sink. It has been jacked up twice and still sinking. What type of contractor should i contact or what steps should i take to fix this issue?

@Dominick Johnson thank you i will have to look into it.

What is the best way to collect rent? Any good apps for landlords that have a rent payment feature? I just closed on my 7th rental and its beginning to be a bit much to drive to all of them to collect the payments each month.

I am currently in the process of buying a single family home as well as a multi family home. I am shy of the closing costs by about 4,000.00. After collecting everything possible to pay these i have now hit a brick wall. Are there any organizations that help pay closing costs without creating more debt or increasing DTI? Thanks for any suggestions.

Ive found a quadplex that im interested in at a cheap price ($94,500) and today the agent told me there are foundation issues as well as subfloor and joist repairs needed. The outside of the property is brick. On the side of the property you can see signs of settlement. The brick is pulling apart in what appears to be a staircase pattern. Is this a sign of a major problem? What would you do? Proceed with the deal or turn it down?

Found a triplex for $225,000.00 all units are rented and the estimated mortgage is $1,004.00. What would be a good cash flow on this property?

@Joseph Cacciapaglia ok. I met a investor that does this a few days ago and seems like he has a great thing going for him. He has 7 houses right now and each one if supposedly cash flowing around 900/mo. I dont know where to begin doing this but i will do my research.

Does anyone build their rental properties from the ground up? If so what are the pro/cons of this? What are some of the hurdles you have faced and any advice to help get me started would be appreciated.

Looking for good books to read. Ive already read rich dad poor dad and need more material.