All Forum Posts by: Account Closed

I suggest:

FAUXSALER

Or

"Cash Buyer"  .. You gotta make sure it's in quotations though! .. because, the irony and whatnot

The only fortunes those con artists are building.. are their own. 

Excuse my beer math:

2.5 hours = 150 miles-ish
Say 300 miles each day
avg 30mph = 10 gallons of gas each day
$22 gas/day 
22 working days/mo = $484/mo in gas

Oil changes at 3k miles = 2 oil changes/mo= $160/mo

You're almost at $650/mo in additional expenses each month, not including add'l wear and tear and accelerated depreciation on the vehicle. 

My biggest question is, what would be more important? Getting this ONE property, or living closer to work and saving yourself $650 dollars and 110 hours of time each month?

Honest question: What do you think you could get accomplished in your investing career if you spent that $650/mo on marketing, and 110 hours a month on learning, networking, and finding deals? :)

Either way, good luck to you!

@Drew Karlberg So it doesn't cover: 1. Vacancies 2. Capex 3. Maintenance 4. Management?

12 years of eating negative cash flow until its paid off.. is expensive. Then once it IS paid off.. its not cash flowing, its $100k/$150k/$200k in equity tied up that isn't making you any money. 

Kick the tenant out, sell it and 1031 that $35k into something that actually cashflows.

Or refi to a 30 year and get some cash flow now

..just gonna keep buying land, seeds, guns and ammo for when this whole thing comes crashing down, and I get to sit back and watch hipsters try and figure out what trees tacos grow on..

Seems totally legit.. 

The first picture a buyer sees.. is of a tarp.. inside a house. 

@Mike O.  

Take the 4plex and negotiate it down to a point where a cash buyer would be interested; assign it and get the rest of the package seller financed. Show him the comps (if you have any) that $50k/door is unrealistic, and If he balks at lowering the price offer to make up the difference in the financing with the rest of the properties. "If you reduce the price on the 4plex by X so i can come up with the cash fast, you can bump the rate up to Y and add Z years to the term .. which will net you an additional $XYZ over the course of the loan"  

Start low and long with the rate and term, especially if he's not budging on the overall price much! Maybe interest only and just enjoy the $0 down cash flow for a few years? Obviously make sure you have an exit strategy either way.

Play around with the numbers until it makes sense for you. If it does, great. If not, onto the next one. 

Good luck man!

Super easy! Make an offer on it, buy it, clean it out/clean it up and sell it to a rehabber for a profit. 

If you're referring to assigning contracts, it's going to be tough to find an agent that will allow you to put a property under contract without the intent (or ability) to close on it.

Have you explained to her what your intentions are? Probably best to just have that conversation with her (and her broker). Good luck man!