All Forum Posts by: Joseph A.

There are two I can't decide between. Just because something looks newish doesn't mean it works just assume it's broken and calculate replacement cost in budget. Second that I was in a bidding war with myself in an online auction. 

I had a property under contract and initially the sellers only wanted to give me two weeks to close but we immediately requested more time for appraisal and title search and they gave us an additional week. The earliest the lenders could schedule the appraisal was for the following week, so we fought for more time and they extended us an additional week. So I go back and request to extend closing by two additional weeks and they say no so we cancel the deal only for them to put the property back on the market and will likely still be there beyond the date I requested to have closing extended to. It seems like they don't want to sell the property. What reason would a seller have to not extend closing?

35 two duplexes and one single family that's set up like duplex. I have three tenants and the other two apartments are on the market.

 Sorry didn't didn't take the money laundering masterclass 🤷🏿‍♂️

Get the biggest commercial washing machine you can find to clean the money, toss the gun in the nearest river, sell the house, leave town, change your name, enjoy the money as you look over your shoulder for the rest of your life......

Do you plan on self managing the entire time you own the property, if not once you add a the expense of a property manager to the numbers it makes it a less desirable investment. 

Have a solid operating agreement that clearly define what each person does in the business. I would also discuss the goals you both have in detail to make sure you are both on the same page. 

I like the cash on cash roi but not the cashflow, but if that amount of cashflow works for you. Other than that it's a decent deal. I see that you're putting down 3.5% for the downpayment and I'm guessing you're using a FHA loan. Technically you're supposed to live in the property, the property looks like a single family property and was wondering how you plan to navigate that.

I am a private landlord and I've received 100% of my rents, I guess that's not really saying much since I only have 3 tenants. I was proactive in reaching out to the tenants early on and they all happened to be essential workers that didn't lose any income

I wouldn't buy it that deal is too thin, just as others have mentioned there are a few expenses you're not taking into consideration.