All Forum Posts by: Marty True

Ok thanks for clarifying.

@Danny N. Having great cash flow AND good (natural) appreciation is hard to come by. It's my opinion that REI's are either cash-flow investors or appreciation investors.

You mentioned that you were more interested in the "long term peace of mind than high income" so that sounds like you're more of an appreciation investor. Like you said, you will get better cash-flow on the C/D class assets than you will on the A-/B but those C/D assets rarely will appreciate much on their own.

I'm a cash-flow investor so I like the B-/C class stuff so that I can get decent cash-flow BUT because I usually buy non-updated assets, I can force appreciation by doing a $10-20k renovation. Although, I don't normally buy for appreciation at all. It's all about cash-flow for me.

And in regards to being a Chase customer - yes, if you are solely using conventional financing methods for your REI then DTI will play a big role there and also cap your loan limit. There are many other financing routes you can take to get more loans and not necessarily hard money.

Ok thanks for clarifying.

@Sylvia Cordes is this rented for $700 or is it vacant?  Pics show it vacant but your ad says $700 current rent

@Robert Rayford has this house had the demo done already or is it currently rented for $800/mo? You ad states that it is currently rented for $800 but then you say trash out and demo done.... ?

@Sam Nunez is this your contract? I've seen this one being daisy-chained around all the wholesalers' lists, all the way up to $599k.

@Terry Dunn - just curious, what do you love about having no debt? No debt = less cash to invest. All the most successful investors I know always leverage debt when possible.

If you only plan to have a single property or two and really need the cash-flow, then paying off the debt makes sense. But if your strategy is to continue building wealth through more assets, then leveraging debt is the way to do that.

@Danny N. - if it were me, I would take the $250k out and reinvest into several more properties. Rather than buying one for cash, why not use the $250k as DP for 2-3 more assets? Unless like I said, you really need/want the higher cash-flow immediately.

@Mark Belenky Try to stay "East of 95" with regards to Miami (Little Havana would be the exception). Little Haiti and Little River are up and coming, as @Chidi Nwadike mentioned.

I echo all that @Jeff B. said (especially the consulting an attorney) but without knowing the "why" for changing the title out of your name and what the relative's status would be in the property (does the relative know your strategy?), I can offer a technical way of doing what you want...

Deed the house to the relative; create a promissory note for (trivial amount) so that you can take "deed in lieu" when you want to sell - that solves the "so I can have right to sell".

For renting, just create a (master) lease with your relative where you rent it for $1 per month and have the exclusive right to sub-let - that solves the "so I can rent it out".

As far as "other legal decisions" - you'd have to be more specific but with the word "legal" in there, I refer back to consulting an attorney there.

@Michael H. you can start here: http://www.jacksongov.org/187/Determination-of-Tax...

I'm assuming the properties are in Jackson County but if not, check that county's property appraiser/assessor website.

Not sure exactly how your assessor does things there but here in Miami-Dade County, when a property is sold, the purchase amount pretty much becomes the new assessed value.

I have an apartment building I'm considering that is assessed at $1.3M with taxes of $27k/yr. The potential sale price is around $4.3M so the taxes will jump to around $83k/yr - this affects CAP rate and NOI.