All Forum Posts by: John Davis

@Scott i need some insight to your attorney...LOL Thaks

How did yu get your closing cost so cheap? I paid 5k...who is your broker/lender? Im considering flipping but Im Green in that area...can we talk?

3, its a Triplex. I'm looking at a 9 unit next. Hubert, you are in Jville. Great city just don't focus on that city look at the outskirts areas. Great opportunity to excel!  

I have just closed on my 1st MF, I have about 51k left to purchase another property this year but I've caught this REI bug. I want more properties than just 2 or 3 this year. I need some ideas to help me get to 5-10properties this year with my limited amount of savings.

Any ideas or connections, links would be most grateful!

John

Hubert,

I just closed on my 1st MF 3rd March! It took me about 3 weeks of research and running the numbers, talking to the owner/tenants as well looking at comps in the area. The asking price was 130k but I got for 105...dropped 26k for down payment. You have to be patience and do your due diligence on RE! I would suggest you either divide your 100k in half or into sections(33k), so now you can purchase two or three properties...remember I'm fairly new. Someone else will have other ideas for you...get on BP an use their calculators(Flipping/Rental/Wholesaling)! OMG...this is a great tool, it gave me the confidences to take the LEAP!!

John

I just closed today(3rd March) on a Triplex, asking price was 130k, I got it for 105k, high county taxes but I'll get 600+ monthly after expenses! 

Triplex in Kenly NC....1st property down several more to go!!

Eric,

Make sure you do your due diligence on your OWN, don't depend or rely only on the info provide to you from buyer brokers. So to answer your question, yes get as much information as possible. 

John

Welcome Joseph,

I would suggest you read, read, identify what type of buyer you are(B/H or Flipper) but be open to learn ideas as you go through this process. Then when you are ready, take actions..."To Win you got to GET IN!"

John

Pamela

Could you explain to me this Tax deed situation....? 

John

Not here in Raleigh NC, no charge at all.