All Forum Posts by: Jason Dobbins

A home of that age I get Lead Test, Asbestos, Radon, and General inspection.  I have done sewer a few times but not often really depends on how that system looks in the basement.

If your goal is to purchase 1 rental property and that is it, i would buy Cash.  If your goal is to scale and purchase more properties i would use your cash for down payments and leverage bank money.  Your cash on hand right now could get you 3-4 properties on borrowed money.  The cash flow from those properties would be equal or close to if you paid cash on 1 property.  Now take into account deducting the interest on the 3-4 properties you have loans on and your now paying way less in taxes on the money you make from these 3-4 properties compared to the 1 property you purchased cash.

It really depends on what your long term goals are if you just want to buy 1 property now cash and save up cash to buy another in 5 years then if it makes you more comfortable i would buy them cash. 

Thought this was pretty funny

https://www.foxnews.com/us/utah-homeowner-man-breaks-in

Guy clearly has dreams of Bigger Pockets

@Crystal Wilson i charge $35 for a small to medium dog and $25 per cat. Max 1 dog and or 2 cats

I get the DTI argument but it really depends on the purchase price of the car are we talking $10k car or are you buying a new car for $40k. Personally i rather have 40k in my pocket and the solution to DTI is get more income.

I am working with an agent on a property i was looking to buy. Does my agreement with the agent bind me to him for off market deals or is just regarding mls deals

Honestly you charge a tenant 6% late fee, are you telling me that a tenant would then take you to court and pay a lawyer thousands of dollars over a late fee?

Every service has a late fee.  You don't pay your electric bill on time they charge you a late fee, don't pay your cable bill late fee.

I get it a tenant could take you to small claims court over it but if you lose why would you stop charging late fees because a small claims court felt bad for the tenant.

I just looked at the Bigger Pockets Lease for my State and Florida both have late fee clauses.

However sometimes people don't want to take lower but are willing to pay the closing costs.  So you might not get it for your lowball number but i have done deals where i paid slightly below ask and had them include closing costs.  This kept cash in my pocket reducing my cash to close which is always my goal to keep my cash in my pocket.  

So the answer to your question really depends on what you are doing you say they are for rental or flip.  To me you need to decide that before you make your offer.  To me if its for rental have them include closing costs as I personally don't worry as much about the asking price as i do dose the property operate cash flow in a range that is acceptable to me.  If your flipping then I would as above mentioned get the lowest price possible and pay your closing costs.

Excited to see it finished!!

I manage my own properties but have heard many stories when people do not check in on their investments and it never ends well.  Is this property out of state from where you live?

I don't have experience with Property Management companies but it sounds like you need a new Property Manager