All Forum Posts by: Jay B wolgamott

does this open??

So here's the scoop a four unit with rent at $425 for a total of $1700 a month, asking $124,000.( owner pays water)

It took a couple of weeks to get the cash flow report. So after looking at it the numbers, I had some questions why is the rent not showing $1700 . I asked the management company  Why it was off by so much and was told to just look at the "net other items. That is paid out to owner from property management."

The other red flag was the water bill ? Should I keep looking?  These numbers are off putting to me.

Thanks 

Jay 

Investment Info:

other investment in Mountainburg.

Purchase price: $65,000
Cash invested: $65,000
Sale price: $70,000

owner financed for 20 years cash flow $411

What made you interested in investing in this type of deal?

house we bought when we move here

How did you find this deal and how did you negotiate it?

realtor and no second house that I bought

How did you finance this deal?

cash

Lessons learned? Challenges?

to buy cash generating property

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hello everyone this is my first post and thank for taking the time to look at this. So i this have plan out as.

They are asking $39,000 I would offer $35,000 in cash from a refinance from my current home and $10,000 in  savings for rehab.

I have not seen the inside of this house yet , i am having a realtor check it out today, so I will know more this afternoon.

Then do a purchases option of $3,000 down and $800 a month for 2 years  and purchase price of $70,000.

This is having the the lessee pay for all repairs up to $500. 

Then refinance this property for $55,000 when I can for the next one.

So how should I look at this get he lessee into bank finance or do a note for 20 years

So I have figure out I need two contracts one for the lease and one for purchase. 

How much of the $3,000 do I use for the purchase price.

Do I need to collect more money to help with the down payment or have them do it for themselves?

What else am I missing ?

Would you do this or something else??

 Thanks