All Forum Posts by: JERMAINE LUCAS

Hi BP nation Jermaine here, I just ran into a friend I havent seen in years she asked how was my real estate business doing, I told well and that I was in the process of locating funds for a 6plex $45k at 10% interest, she then told me she know someone who would be interested in lending me the $45k I need but she would like to get a $500.00 finders fee after the deal closed.

What do you guys think, I always use my money in the past but I like this deal.

Jermaine here I would try the embarrassment tangle, just have a talk with the downstairs tenants, would sound like this.

The people upstairs are still complaining of loud sex noise, wow how loud are you guys I don't believe you guys are as loud as thay say, are you? If you guys are as loud as thay say, someone may call the police and say assault in progress. Lol

Jermaine here as I read you post I can't seem to see the up side for you that is probably because there is none, not for you anyway, I would not do it.

Hi Ann jermaine here and welcome to BP, I would suggest you check out the podcast, a lot of useful information you will love it

Jermaine here buy your own, I had a servicing co in place when I bought my 8plex it was a 40, 60 split 40 to me 60 to them, I got checks for $35 to $55, I did not care thay did all maintenance. The turning point was hen the washer keep pooping a leg off and thay would fix it, so I got my own spent $1200 , seeing that my checks were only $55 I gave it 2 months before I empty the coins my take was $367.00, three months later $416.00 and my biggest take with a full machine$434.00. I love it.

jermaine here, don't let that piss you off lol, when thay move just take some pet pee neutralizer and spray the area.

Or even better do it while thay are still living there.

Jermaine here I like to say do the leg work you should visit rental in your market, that will help you know what your computation is doing and will let you know where your property need to be to command top rents

Jermaine here it is my understanding that an "homeowner" can remove 20 feet on any one wall, for a whole basement you would have to get an expert who will gave you a certificate.

welcome to the BP nation, I am all in to the small multi family, if you have questions on the multi's I will try to help.

Welcome aga

jermaine here I would stay with the 3 time rule and if you don't have the worm and fussy double your security deposit.