All Forum Posts by: Joseph Billow

I don’t ask for advise that often, but when I do, I go to biggerpockets! Thanks everyone

Awesome responses. Just what I’m looking for. Thanks all

I'm not sure if there is "one" answer to my question. However I'm not sure how one should determine cash flow on a SFR or small multi family Buy and Hold. Specifically in regards to the term of the mortgage. Is it common practice to amortize your loan over 30 years or something less? Because I am a bit older (late 50's) I was hoping to cash flow with a 15 to 20 year note so as to quicker build equity while still being profitable. Is it as simple as, "do you want cash flow?" or "do you want to build equity?" I'm just trying to determine what is the best business practice.

@Joseph ODonovan  Thanks for the heads up on the equity.  I should be fine after remodel.

Lamont, thank you for your response. I was thinking along those same lines and your answers reinforces my initial thoughts.

I have the possibility for a loan from a private investor for my next investment home purchase. I haven't accepted private money before, nor has my potential investor loaned money for such an investment before. I need help in understanding what is a reasonable or "standard" return the investor can expect and how the loan should be structured.  My intention for the property is to buy, rehab, rent and refinance. I would pay the investor back in full plus their "return" when I refinance. So if things work as planned the loan would be fairly short term. Any advise or info would be appreciated.

I'm buying a auction home that I intend to fix and flip. I'm getting ready to close. I am paying cash so no lien holder but I still want to insure the property. I'm in New York State and I'm finding it difficult to find a policy to cover such a home, being that it will be unoccupied. I have spoken with a broker but they will not insure unless I give them all of my personal insurance which I am not prepared to do at this time. I'm looking for suggestions and information as to what others are doing. Thank you.

I am also going through the same process with Auction.com. That is how I found this thread. I have requested to get title insurance through their co. Servicelink. My main concern is getting clear title. Should I be doing something different? Any advise would be appreciated.

I'm interested in bidding on a foreclosure property that is occupied. My concern is how to proceed if I win the bid as far as gaining access to the property and removing the occupants. 

Thanks for your responses. It is a auction, actually an online auction. I know sometimes they get cancelled or postponed and sometimes the likelihood of winning the bid is slim, so spending a few hundred for a title search can get costly if you have an eye on more than one property. I was just curious as to what others were doing.