All Forum Posts by: J H.

I'm sorry Steve, I wasn't clear. I'm looking at only one unit in a condo complex and want to find out how many units are Section 8 rented in the entire complex.

I'm looking at condo complex in Maryland and was wondering how many units are rented by Section 8 tennants. Is there way I can find this out?

Is anyone in the Southern Virginia area familiar with rehabbing in Abingdon?

Thanks in advance.

Hello, I'm not sure if I'm posting in the right forum. I'm currently wholesaling properties with nice cashflow in Prince Georges County and was looking to connect with investors here on BP in the area interested in adding properties to their portfolio?

Is there anyone in the Northern Virginia area that can recommend any good developers for a potential tear down on a 5,000 sqft lot?

Thanks in advance.

Is there anyone in the Northern Virginia area that can recommend any good contractors for $100K+ potential full gut rehab jobs?

Thanks in advance.

Thanks for the responses everyone. I figured the numbers were bad I just wasn't sure if there was a creative strategy to salvage the deal. I got the rents by walking the neighborhood and checked similar rents online. 2/2 1,100 sqft.

I am currently getting calls from owners looking to sell in Northern Virginia. The rehabs are minimal so they may work as rentals for buy and hold investors. I'm looking for advice from the BP community as to whether or not this latest deal that came in can be structured to work for positive cash flow:

Seller initially said he needs to move
(1) to be closer to he and his wife's job (hates the commute),
(2) because his family has outgrown the property (wants his 5 year old to have more space).
(3) Mentioned that he would be willing to become a tenant for up to year after selling.

I dug deeper and found out the true motivation for needing to sell and stay as a tenant is that the HOA's are killing him and that the only reason he wants to stay in the area for now is so he doesn't uproot his son right before school starts. His mortgage is $1,516/mo and HOA $435/mo. He is open to seller financing.

ARV = $264K
ASK = $250K
Current Mortgage with HOA ($435) = $1951
Remaining mortgage = $203K
Avrg Rent in area = $1450
Repairs < $10K
2/2 1140sqft Condo

From what I understand, The mortgage definitely needs to be payed off in order for there to be any cash flow, so I'm assuming a D/P of $203K would need to be the minimum in a seller financing option.

This is the first time I had a buyer suggest becoming a tenant though, so my question is are there any creative strategies involving him as tenant that I could structure to turn this into a good deal?

Thanks In Advance.