All Forum Posts by: J C

yea thanks the advice so far.....insurance = 400. taxes - 550 a yr.

Jon Klaus so your saying 25,000 is the max i should be offering? doesnt that seem a little too cheap?

Hello everyone, i had a friend this mornign who was trying to sell a house he fixed and rehab. he put the house up for sale at 64,900 which was too high in my opinion. he then dropped it do 55,900 and noone inquired. im thinking its worth around 40,000. he says he'll sell it for 40,00 no dollar less then that. Using the 2% rule i should only pay for this house at 30,000 max. This is a all cash deal.

So should i pay for the 40,000 ? is it still worth it or do i offer a smaller number and stick to my guns? and if i should offer a lower number what would u offer max

DaniilKleyman

Thanks, that is what i was looking for. I wasnt sure if i should use all cash then start again..

Appreciate the advice.. To be honest im not trying to do all that wholesaling stuff. Honestly i may be wrong but i just want to puurchase propperties and rent . All it is is numbers . If the number work the property works. I wanted to know maninly should i use my own private cash to buy a few propertires straight out or wait till my credit is right and finance over and over with cash

Philadelphia Area. I Read this whole Forum front to back. I think i have a idea what to do . im 25 and my business plan is to at least have 5k passive income.. Thats my first step. Im not sure to i buy all cash with a little saved over to continue my current business or that is a bad idea and i need to fix my credit which will take a year?.. ALSO im ready to make move NOW.I AM VERY IMPATIENT

I want to buy some rentals and hold and get the cash flow from the properties and im confused how to go about this. I was reading the Cashflow vs Appreciation thread for the longest and assumed that i can buy some cheap properties for about 25-30k and rent them out for 550-650. This is the part where in confused on. I have bad credit and cannot get financing. So do i just pay cash for everything? Or would be the smart thing to do would finance everything and hold on to the cash.. Im so lost. ANy input on the best route i should take?