All Forum Posts by: Account Closed

So we're about to make our first offer on an investment property that is a tricky-plex.  It was discussed on one of the webcasts, offering optional offers such as low ball bid with no inspection or raise the bid but seller pays for all inspection items.  Can anyone offer suggestions for strategies to use on a conventional 30 loan offer with 25% down and an offer that is 28.5% off of asking?

I'm looking at investing in a multifamily property as a first rental investment. It is currently rented to Section 8 occupants . This time of year, purchasing a vacant SFH with the hopes of renting during the holiday season scares me as I need the cash flow and don't want to cover the mortgage for months that are typically low move months. So, I'm finding currently rented multifamily homes appealing in this regard.

I know there are pros and cons of renting to Section 8s but I'm specifically wondering about what needs to be done by a new property owner with existing section 8 tenants. If the property has already been inspected and deemed acceptable by the Housing Authority is that good no matter who the property owner is... or would I as a new property owner have to redo some paperwork at title transfer?

Hope it is clear what I'm asking. Thanks in advance. Love this group.

Looking at an early 1900's duplex that is currently rented with good cash on cash numbers but is in an economy neighborhood and less than $50,000.  Will the bank even consider lending on such a low price property?  Newbies looking for insight.