All Forum Posts by: Justin C Huggins

Thanks everyone! So looks like I should probably stay away from the houses unless I feel pretty confident I can turn around and sell the homes.  Not sure I have enough reserve to take the risk at this time.  I will probably just stick to the duplex for now.  

So I have found a duplex , which is bank owned, which will cash flow very strong with a little rehab. I am definitely going after the duplex. The bank also has 2 houses right next this duplex, which all have same rustic style, built same year.  Both houses need a little rehab work, but mainly cosmetic.  They could easily appraise for quite a bit more, which could give me roughly 30K per house I can put to other rental properties.  Unfortunately, this is somewhat a rural area and I do not believe I could get much more than $600 a month rent.  So after the refi, I would only net around $100 a month on each and this is before maintenance, vacancy rate, etc.  Would it be a good idea to even go after these homes, or would they be more trouble than they are worth after the refinance?   Any suggestions on this, I am fairly new investor.  

I have been reading several books about investing over the last couple months.  I have heard a lot of talk in regards to Seller financing down payment, which sounds very attractive since I am looking into apartments mainly.  How does this actually work?  Does the seller have to give you the cash upfront then you turn around and give it to the lender?  Or does the seller pay the lender directly?  Just curious about it, seems like it could be potentially a good option for some very profitable property outside of my price range.