All Forum Posts by: Kwame Darko

@Brendan Lawrence @James G. @Jaron Walling @William Joseph Thanks for all your responses. My goal is primarily buy and hold but made the mistake of taking on too much and doing both. This flip will actually sell for a loss since I did a million things wrong but it was a good a experience. I was successful on my first flip so I thought the second would be a cake walk. Even though this cash flows, it doesn’t offer a good cash on cash return but in hind sight wouldn’t mind keeping it and starting over or selling, taking a loss and again starting over.

How long would you typically wait for a flip to sell before deciding to potentially refinance and keep it as a rental. Listed a flip in early December and although it has received some attention (atleast 1 showing a week) there has been just 1 low ball offer. The house has been remodeled pretty well with an open concept, granite counter tops etc. I know that the time of year was not the best so that maybe a factor as well. It will cash flow about $100-$150 A month.

Yea that sounds outrageous. I get charged $125 per return and I have 3. Personal, LLC and rental income.

@Sunny Burns How did you finance your properties?

I actually just went through this exact situation many are here are talking about. I recently bought a duplex and the first months rent was due via cozy. Tenant decide to pay only 70% of the rent. Within hours of receiving the notice to pay or be evicted they paid the remaining balance plus the late fees the next day. My numbers included an eviction so it didn’t matter either way but I guess it takes doing that for some tenants to put some respect on your name.

I would be glad to take his info if he services the Manchester/Vernon area. I sent you a connect request. @Shirley R.

Recently purchased a multi family with an inherited tenant. I feel like Connecticut is the only state that allow 10 day grace periods. Anyway I set up the tenant with cozy and this will be my first month collecting rent. The tenant seemed to have found out that cozy allows for partial payments. The tenant decided to make a partial payment yesterday for this months rent and the remainder being due in 4 days. Let’s see how this goes, I have my notices ready.

I use cozy. It’s easy to use and it has other functions such as maintenance requests etc. 

My degree is in Pharmacy. I can’t really say it helped in my real estate journey per say but provide me with the income to accelerate my endeavors. All the real estate knowledge and business aspects that I’ve learned were all self taught and a result of networking.

@Scott Hollister has a meet up that takes place in Manchester every month. Connect with him and follow his page. It’ll pop up on your feed when he announces the next one. I’ll do my best to attend for the first time this month.