All Forum Posts by: Joshua Hollandsworth

In your experience, have you ever been able to score a "cash-back" deal on a rental property? Only if there is enough equity on the property, obviously. What I mean is, If a property is worth say, 100k. Say you talk them down to 90k. Is there any way to make an offer contingent upon cash back to the buyer? So, I'll pay 90k if the seller gives me 5k cash back. Or does this interfere with the "skin in the game clause?" My lender wouldn't let me do this.

Originally posted by @Carly Bailey:

I manage a few duplex's in the Cleveland area and I have some owners who pay water/sewer but other's who don't. Is your duplex only one meter? Water/sewer bill averages about $150 a month. If you only have one meter you can always roll the estimated water bill amount into their monthly rent. 

 Thanks for the input! I calculated $160. I don't own a duplex. I am in the process of buying one. 

@Ryan Ingram What do you pay for insurance for a single family? If you don't mind me being nosy. 😂

@Ryan Ingram Thanks man. I appreciate it! In Cleveland we can pay ours monthly. This just recently went into effect. $700 on a Duplex?! Wow that's amazing. I hope my numbers will be similar. I can only hope to pay $100 for these utilities when I close this duplex.

@Antoine Martel I have to pay them. These expenses can't be passed on to the tenant in Cleveland.

On SFR's in Cleveland Ohio, water and sewer, combined, run me about $80-$85 a month. What is a good estimate for water and sewer on a duplex in Cleveland? Also, what are you paying for insurance on duplexes/SF? Thanks in advance!!!

It's easy to understand why seller finance deals are hard to find. Interest rates are crazy low, and most sellers don't want to carry paper. However, I know that these deals are still out there. I believe wholesalers are going to be my best option for finding these deals. But, how do they make their assignment fee? 

Thanks for all the advice. I am not currently looking to touch anything like this. I am only looking in "less than desirable" working class neighborhoods. It's just something to think about. I understand the whole rent collection issue. I just don't see it being a consistent issue if we're using Section 8. However, you guys know your stuff. So, I will take your word for it. Thanks again

I know there are a TON of threads already. I really want to give wholesaling a shot this year. Any good books, or courses? I understand how it works... I just don't know where to start. Wholesaling could really help me purchase more rentals. Thanks!

I am seeing a lot of negative feedback. As usual. Lol. This is not a business model that I have pursued, so I don't understand how it works. Just testing the waters. I purchase rentals in the 50k-70k range. Often turnkey, with less than 5k required to repair the property. I don't see how you guys will purchase 100k+ houses and make a couple hundred bucks a month, but someone buys a 35k house, cash flows $400/Mo. And they're an idiot? Who is REALLY going to hurt if the economy crashes? The landlord who owns a 150k SFR and pays $6000/ year for taxes and insurance, or a landlord who owns a 35k duplex and pays $2000/yr for taxes and insurance, (and no matter the state of the economy, low income housing will always be needed)?