All Forum Posts by: Mary Joe

@Samara Huntley @David Haynes  

Thanks both for your reply. Will reach out to you if I have further questions. 

Hi Samara, what is the price range like for properties that cash flow well in Gastonia/Concord/Kannapolis ?   I am a buy-hold-rent investor, am considering expanding my porfolio. 

 Many thanks. 

 How much can an investor expect to NET from the $200K B level duplexes that gross $3K in rent? Assuming no mortgage or financing needed. 

I am trying to educate myself to see if I have what it takes to be a hard money lender.  When I searched online, all i see are ads offering hard money to house flippers.  

But for someone who wants to make some passive income via hard money lending, where do I go to search for house flippers who are looking for hard money for their flips?

@Noah Taylor   what are the price range of the properties you are looking to flip using HM ?

@John McKee   I have been using eRentpayment for many years now, not sure if they give you the controls you need, but I am very very pleased with their service and their fees are very reasonable. 

@Emily Liu   I usually ask for an extra month of security deposit for situations like this. I have had very good experience with tenants who are willing to put up an extra month of security deposit.

@Nathan Gesner   Not sure if things have changed now, I used MySmartMove in the past and they only gave me a YES or NO recommendation on the background check.  

Never mind, I just read your other post, please delete this post.  Thanks

Not true that all Quickbooks are online version only.  Do a search for Quickbooks Desktop, I think that's what you are looking for. 

I have used Excel, Quickbooks online and Quickbooks destop for many years. Don't like Quickbooks online at all but I do understand that it does appeal to a certain group of users.

Personally, I would stick to Excel unless we are talking about a lot of transactions every year. As a matter of fact, if you have few transactions, using Quickbooks (whether online or desktop version) may take more of your time because you have to set up your chart of accounts, vendors maintenance, customer etc etc whether you have 10 transactions or 10000 transactions per year using QB.

Good luck. 

 So I will recoup from whatever is left after the bank has foreclosed on the property?  

I am confused, in an earlier post you mentioned Private Money Lenders take first position on the loan and have all the rights as a mortgage company to foreclose.

I guess Private Money Lenders will be 2nd in line for as long as there is a mortgage on the property, correct?