All Forum Posts by: Jermell Shavers

@Mike M. Correction she owns it’s free and clear she just can’t sell it and be able to move I made this late night sorry about that. It’s worth about 72k I’ll purchase it for 35k.

So today me and my neighbor were talking and she wants to sell her house to me but she said she is upside down and wouldn’t have anywhere to go if she did sell as she is retired and has limited income.

So I offered to pay her 35k the place is worth about 72k and we would agree she live out her last days and when she is gone I would take it over.

Does this sound like a good deal she would still pay for property taxes insurance and everything. I could still use the property for a Heloc as I would own it free and clear. What are the downsides to this for me ? And her just want to see it from all angles

@Carl A. You get rid of said tenant... don’t let the tenant start telling you what they will pay that’s a recipe for disaster but that is a considerable jump in rent tbh. Most people that rent are already on the edge at least in my rentals they are doing everything they can just to hold onto the place they live in so unless I see something coming I don’t really increase it. Now if they make me mad I increase it and they suffer be nice to me and I’m decent to you.

@Antonio Ramos. I do OOS investing so if I can get them all on the same block or in a preferred area I’ll do that but overall I go where I can get a deal. I found a duplex for 33k but I’ll offer lower than that and rehab it. It just makes it easier when I go into town one stop shop

@Philip Johnson. Honestly you have enough cash to finish the rehab and the house is paid for.. keep the house and just pay the rent to the private investor and explain the situation I don’t have trust in people especially family people you trust see that money and that house you freshly rehabbed and they see a come up slow down keep what you got and wait till you can do it yourself

@Kevin Chan. I do OOS investing and my rentals never sit vacant for long in fact I recently purchased another sfh and I had a tenant before I was done with Reno.. most of the time it depends on the class of asset you’re investing in C class they find you they know who has been there and they know when you don’t live there especially when they see Reno going and my truck sets me apart from everybody in a c class neighborhood so I guess they know I scream landlord and they ask how much is rent

@Mike Kirby. Running the AC a lot burning candles or smoking or vaping and generally if they have a larger family it will get dirty quicker more people more dirt. I’d just get a higher quality filter and let it go. It’s a filter buy good quality ones and you can go another month with that dirty filter just being honest.

@James Camp. Lousiana and Missouri are landlord friendly for sure. They will put someone out in the middle of winter

@Jiri B. As far as not seeing it if it has tenants in it I have my realtor go in take pics and FaceTime me and I close remotely and absorb the tenants

@Jiri B. When paying cash especially where I invest at they take that deal quick.. especially when I bring cash to the court house I say hey you can get out of this house in 48 hours quick title search and go to the city courthouse it works so much and I get these cheap houses so cheap it’s crazy.. they see that big wad of cash more money then they have ever seen at one time it overwhelms their brains and they just go for it. I am only investing in 40k and under rentals sec 8 and I get what I want and often more than market rent