All Forum Posts by: Jonah Walker

Hi BP,

I've been looking into real-estate investing for awhile now and I'm at the point where I am going to be making a purchase.

My question is: I am newly engaged and wondering, with the thought of buying homes in the near future, would it be best for my fiancé to purchase this first home together or should I have it under just my name?

Will it make it easier for us/her/I to get a loan in the future?

What concerns should I have? Financially, legally, taxes?

Any input would be greatly appreciated!

Hello everyone,

I have been looking for investment properties for while now and either can't find a good deal or get out-bid every time. 

Long story short, I still live at home and am at a point in my life where I need to get a place of my own.

I've been wanting to get a duplex to live in one side and rent the other but am having no luck in my area.

Should I hold out until something pops up or just get a place of my own for now?

I feel that getting a loan for an investment property would be more difficult if I am holding a mortgage on a place of my own.

Is this accurate?

I've even considered building a duplex or triplex since none are available.

Any insight on this would help greatly !

I am purchasing a home from my grandparents with my brother. We will be splitting everything 50/50 but I will be managing the money once the property is purchased.

We want to write up some sort of partnership agreement to protect us both.

Any recommendations on what to include?

Cameron, that would be great! 

Thank You both for your rapid response! 

Have either of you dealt with "Foremost" or "Tower Hill Signature"? 

I have seen some not so great reviews. But I feel that is true with a lot of insurance companies.

Hello everyone!

I am a first time home buyer and first time real-estate investor. I am purchasing a nice 3/2 mobile home from my grandparents and plan on renting it out. 

I am in the process of getting insurance quotes on it and am having a hard time finding a decent company. There's also so many coverage options and I'm not sure exactly what to look for or what to get. 

I have gotten 4 quotes so far and the premium ranges from $640-$1,000 a year.

I'm purchasing the property for $60k although market value is about $95k.

Not sure how much coverage I should have on it. And having trouble understanding each part of the quote.

Any help would be greatly appreciated!

You can get higher rent in Sebastian typically. As a cash buyer you're gonna have no problem getting a property. But it is difficult to find one that cash flows. I've been like for about 4 months and cash buyers keep stealing my houses lol, so kinda hate you. Jk! You can get a 4 bed for that price point and rent would start at $1800 minimum

I am looking at a buy and hold investment and quite frankly, nothing in my area seems to cash flow. With that being said, I am wondering what everyone thinks will happen to the market come February. Is it worth getting a property now or waiting?

Thank you for your input, I hadn't even thought about that. 

So I spoke to the Realtor and they said that the seller will take care of clearing a unit and we will close after that point.

The property is listed at 189,000. My realtor thinks I can get it for 180k and have them pay closing costs. I'd be doing an FHA loan. The rent right now is $850/e. Both tenants are month to month. One is good on payments, one is delinquent. I would keep the one in good standing and move into the other unit. I would sign the one tenant for a year lease at her current rate, and then after that year, bring the price up. The average rent in that area for a 2-1 is $900-$1100. It isn't in the greatest neighborhood. The insides are very nice, the outside could use some work, but I'm a handy man, so that's not an issue. There's not crime, just all older homes. Eventually, I would move out and rent both sides.

Really just looking for some input, advice, etc.