All Forum Posts by: Kareem C Micheli

Thank you Jay

Spencer Taylor - I’m trying to hear things up just not having any luck. I’m think I’m in search of a mythical creature, owner financing, with low down payment, and a longer terms. But I’ll keep looking, hope it warms up for you down in salt lake.

Chris Baldwin - currently we live in a single family home here in Ketchikan. The duplex we own is down in Idaho, and we rent both of those out. We are looking to buy another place here in town and possibly do some house hacking but just have not had any luck finding something that meets are needs here or is in our price range. Mountain point area is nice, congrats on the duplex. Do you do all the managing of the property?

Jason Jutila The house was in Gloucester Virginia, Adams creek Rd. It was a little ways outside of town down this horrible dirt road that would fall to pieces everytime it rained. I rushed into buying that house didn't do any kind of homework, and was listening to all of the horror stories that comes with being a landlord so did a short sale. 

Welcome Erik, your story sounds a lot like mine, I just closed on a duplex and used a lot of my own $$ for the down payment that if I have done a little more research I might have been able to spread that around a little more. But I did find a second place where the owner would offer Owner Financing will have to wait and see if we can make a deal. Sorry i'm out west so don't know anything about the Daytona area but I like your goal!! Best of luck!  

Thank you Gerald!!

Thank Don, yeah I have been using the rental calculators a lot!! They have really helpful. Now just need to find the endless supply of owner financing homes in south west Idaho. 

@Jonathan White Thank you for the great idea, the lot is a corner lot so we only have one neighbor. The neighboring house  was for sale two years ago and we let our realtor, and the listing agent of that home know that we would throw our lot in with the sale of the home for a great deal, but no luck! Currently my plan is to possibly put a duplex on the property sometime next spring or summer and then rent that out. 

Thanks, yeah just got done closing on a duplex a couple of weeks ago. Was able to take what I have learned on here and through books and get the deal done, good to have the first one done with. 

Hello everyone, I hope everyone is doing good on this thursday afternoon. Currently I live in Ketchikan Alaska, been here with my family for a year now. I was brought to this site because I was interested in starting to invest in real estate, I found a lot of useful information from the forums about some of the more notable gurus. After learning a lot from just the forums I decided to become a member. 

My wife and I are both from Idaho we recently just bought a duplex back in Idaho i'm sure I overpaid but I just really wanted to get started and just stop sitting on the sidelines. I guess it will be safe to say this is my second attempt at real estate, back in 2004 I bought 40 acres that I will finally have paid off in a couple of months. Then in 2005 We bought a vacant lot with owner financing. Felt I had enough bare land that wasn't really doing anything to bring in cashflow so we bought a townhouse that was part of a triplex this was early in 2007. Lived in that for a year then in summer work moved us out to Virginia where we bought another family home. Then as we know everything kind of changed the first house we bought we rented that out to family, learned some great lessons there!! Then in 2009 my property taxes doubled I was getting a homeowners exemption for the property and didn't even know it. Plus the rent we were charging family was just enough to cover our mortgage so when the taxes went up we were now losing money. With losing money and having to track down rent every month we sold that house for just what we had left on the mortgage that was pretty much a loss of 25k. Had to do a short sale on the home in Va a couple of years later, and that vacant lot, i can't give that thing away. Had it for sale for three years paid 45k had it as low as 12k never got an offer.  

This time around I am trying to be smarter, trying to learn from my mistakes, and just needing to do it right this time for my family. Always looking for any kind of advice or help, i don't know what I can offer in return but i will do my best to do what I can to payback any help. 

Nice to meet everyone and look forward to working with you in the future. 

Kareem