All Forum Posts by: Joshua Springer

Looks good.  Now make sure you take your check and put away some of it for the taxes on that bad boy :)

Getting your money back in 3 years isn't bad but you're assuming all cash purchase if you say that and even then you're discounting any normal expenses like taxes & insurance. Even if your PITI is only $300 you would net $500 which turns 3 years into 5.

Meanwhile you could take 25k buy a 125k house in a nicer neighborhood.  Net $300 month and get $2400/year in appreciation over 5 years and you'd generate the same wealth with less risk(if done right).  You'd also have 5k leftover for any major issues that arise.

Of course you'll have to provide before and after photos.  If these squatters are anything of substance they'll put some holes in your walls to help get you started ;)

Keep your eye on the property it might come back up.  One of my properties was a great deal that got under contract as I was getting ready to offer.  It fell out of contract after a few months and I got it in contract immediately afterwards.

Good luck.

 Are we hitting the walls or the squatters? ;)

@Alex Nope

I wonder if you could schedule your "private" visit to the home and have the person meeting you arrested :)

A stable family is more likely to pay.  Ultimately what happens if you add him to your lease?  Without stereotyping too much I'm guessing most section 8 tenants won't/can't pay a judgement if they stop paying rent.  If they're being good tenants, don't screw it up to try to add someone to a lease you ultimately won't be able to collect from anyways.

thank you aaron I appreciate your help!

@Aaron Mazzrillo What is that product you have in that picture called?  I'm looking to replace flooring on first floor of my house since I will be renting it out after I move and I currently have 2 little kids and a cat that doesn't like when i'm not at home.  

That looks like a great solution for me minus the kid jumping around like a lunatic and breaking himself.

Thanks.

I've used First Merchants (formerly cooper state bank).  Arlington bank, vinton county bank, middlefield...just to name a small portion of the others.